'Robert Peston's compelling account of global financial meltdown is a must-read.' Observer
What can we learn from the 2008 recession? ITV's political editor explains the global economic mess and how to escape it - in his characteristically straightforward way.
'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? and WTF?, Robert Peston takes us step-by-step towards a common sense way to fix this mess.
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Robert Peston is ITV's political editor, presenter of the politics show Peston, co-host of the podcast The Rest is Money and founder of the education charity, Speakers for Schools (www.speakers4schools.org). He has written seven books, including How Do We Fix This Mess?, Who Runs Britain?, Brown's Britain, WTF?, The Whistleblower and The Crash. For a decade until the end of 2015, he was at the BBC as economics editor and business editor. Peston has won more than 30 awards for his journalism, including Journalist of the Year and Scoop of the Year (twice) from the Royal Television Society. His blog is itv.com/robertpeston, and he is @Peston on Twitter.
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