Thank you for your note Phillip. Malm's essential argument, with which as the tone of my review makes clear I am broadly sympathetic, is that as the crisis worsens it will be acknowledged across the political spectrum that state is the sole actor with the power necessary to enact change at sufficient scale: current liberal orthodoxy that market regulation and incentives will be sufficient will be shown to be inadequate. He hopes for strong government from the left, rather than the right. His use of the image of war communism is intended to provoke, and to warn. To provoke, by making it clear that state-directed action on something like this scale will indeed be required. To warn, that we must not allow such concentration of power to result in authoritarianism. Whatever: some curtailment of our current economic liberties - endless consumer choice, cheap flights, cheap meat - will be necessary.

A London-based business writer and essayist. Find me at and @_translucid.

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