In 2008 the free market crashed.
An economy built on wild financial speculation has been discredited and the privatised utilities are proving to be disastrously inefficient and costly.
The current government has taken the decision that in order to rebuild the economy we need more of the same and that it must shrink the State. Richard Murphy skilfully sets out the argument that the State has an essential and proactive role to play in the economy and in the provision of public services and infrastructure.
Murphy suggests that current economic thinking is far too simplistic and puts forward an alternative approach that has an ethical focus on helping people achieve their full potential emotionally and intellectually aswell as materially.
Only a Courageous State can provide these opportunities.
The Courageous State is a useful and prescient contribution to our current economic debate.
Ricky Stafford is Young Labour Secretary for Ashfield Labour Party.