It’s interesting to watch current events and wonder what will be “the book” on a given subject or event. Sometimes it’s as simple as the first book to market, or the first well-known author, or maybe the best summary, or the most complete and comprehensive account. Occasionally, though, we find that the book that resonates most with the reader is the one that captures the spirit of the event, regardless of its timing, publicity, or scope. We watched after Katrina and saw The Great Deluge and Breach of Faith compete for the right to be considered the authoritative retelling. Countless books on Afghanistan, Iraq, and the War on Terror hit the market and died quiet deaths before Dexter Filkins’ The Forever War captured our attention with its ground’s eye view written in vignettes. And as we watched the housing market collapse and the economy tumble down with it, we wondered who could supply an explanation.
A few attempts have been made. A handful of quick and dirty books on the the housing collapse were churned out, and some older titles were re-released with additional chapters or new appendices. But one came in the other day that may well provide the definitive account in an accessible format. Thomas Sowell’s The Housing Boom and Bust may fail in grandiosity with its straightforward title and bare yellow cover, but it scores highly in what matters: a readable, evenhanded, and linear explanation of the factors that led to the housing collapse. Down the road, we may see another book that exceeds Dr. Sowell’s in size and scope, but I doubt we’ll see one nearly as forthright and lucid.
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