How do we fix this mess? By Robert Peston and Laurence Knight Hodder & Stoughton [pounds sterling]20.

PositionBook in brief - Book review

BBC business editor Robert Peston explains how the world got itself into the current economic mess--and how we might get out of it. He looks at the role played by bankers, investors and regulators, as well as governments and consumers, leading into the downturn--and asks how we can move to a more sustainable economy. Here is a synopsis of the authors' arguments:

  1. The unbroken growth between 1992 and 2008 was based on a number of dangerous illusions, when in fact year after year the UK and the US consumed more than they earned.

  2. The financial crash of 2007/8 and the subsequent economic slump in much of the West was the moment that we realised we had borrowed more than we could repay.

  3. The leaders of some of the world's biggest...

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