How Do We Fix This Mess?
Robert Peston explains how the world got itself into the current economic mess - and how we might get out of it.
'How do we fix this mess? I don't know. But don't stop reading now. Perhaps if we have a clearer understanding of what went wrong, we'll have a better idea of what needs to be done. This book is a map of what needs to be fixed.'
The record-breaking unbroken growth between 1992 and 2008 wasn't the economic miracle that it seemed. It was based on a number of dangerous illusions - most notably that it didn't matter that the UK and US year after year consumed more than they earned. But we couldn't go on increasing our indebtedness forever. The financial crash of 2007/8 and the subsequent economic slump in much of the west was the moment when we realised we had borrowed more than we could afford to repay.
So who got it wrong? Bankers, investors and regulators? And were they greedy, stupid or asleep? What was the role of government? And what part did we, as consumers, play in all this? How do we get through this difficult period of transition to a more sustainable economy, one based on investment and exports, rather than on borrowing and consumption? With the same probing lucidity he brought to Who Runs Britain?, Robert Peston takes us step-by-step towards a common sense way to fix this mess.
The audio rights are handled by Alice Lutyens.
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Lisa Babalis manages the translation rights for How Do We Fix This Mess?
Robert Peston's compelling account of global financial meltdown is essential reading.Peter Preston
The Financial Times
Just when you thought it was safe to go out into the economy again, along comes the BBC's business editor Robert Peston with another dose of grim economic reality.
The Herald Scotland