Books: To Have and Have More THE PANIC OF '89

Have and Have More THE PANIC OF '89 by Paul Erdman; Doubleday; 304 pages; $17.95

So the world's economy did not collapse as Paul Erdman envisioned ten years ago in his geopolitical thriller The Crash of '79. And where is the return of runaway inflation that he hypothesized for the mid-'80s in The Last Days of America (1981)? Both scenarios have, for the moment, been upstaged by the selective prosperity of Reaganomics. But like many well-known experts, Erdman continues to prosper by being wrong. His writing career was in fact launched by an international banking blunder. That was in 1970, when he was vice chairman of the United California Bank in Basel, where officials participated in...

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