Free Audible How Do We Fix This Mess? The Economic Price of Having it all, and the Route to Lasting Prosperity –

Robert Pestons compelling account of global financial meltdown is a must read ObserverWhat can we learn from therecession ITVs political editor explains the global economic mess and how to escape it in his characteristically straightforward way How do we fix this mess I dont know But dont stop reading now Perhaps if we have a clearer understanding of what went wrong, well have a better idea of what needs to be done This book is a map of what needs to be fixedThe record breaking unbroken growth betweenandwasnt the economic miracle that it seemed It was based on a number of dangerous illusions most notably that it didnt matter that the UK and US year after year consumed than they earnedBut we couldnt go on increasing our indebtedness forever The financial crash of and the subsequent economic slump in much of the west was the moment when we realised we had borrowed than we could afford to repaySo 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 sustainable economy, one based on investment and exports, rather than on borrowing and consumption With the same probing lucidity he brought to Who Runs Britainand WTF , Robert Peston takes us step by step towards a common sense way to fix this mess A Fantastic read as advised in the FT FINANCIAL TIMES.Though it is not optimistic and sadly very real Robert does superbly well at debunking some of the technical aspects of the banking world and the series of events that led us to where we are today He then moves on with clarity to set out the problems that have led Europe to where it is today Add to this a detailed account of the workings of the Chinese economy and this book becomes a sort of ready reckoner for any student wishing to gain a good overall grasp of what factors or events have brought the world they live in to this point Well done and thank you Robert. Robert Peston seems to be one of the few BBC reporters that actually knows something about economics, which is quite refreshing Having said that, I would not agree with his interpretation of comparative advantage, which exists even where one country is productive at producing every product.This book is a solid and detailed account of what went wrong with world economies over the last decade It is as if someone had distilled ten years of the Economist into a rather solid book At heart this is good quality journalism, explaining some very complex stuff, with reasonable clarity There are plenty of facts and figures, perhaps too many, a little human interest would have made it readable, but he does the best with a rather dry topic.Marked down to four marks because at times it was a bit of a slog working through it, some tighter editing could have sharpened it up, or a bit human interest might have made for a lighter read. As a lay person it is very difficult indeed to truly comprehend the big picture of the current financial situation I have read the other reviews of this book, some of which go into considerable descriptive detail so I will not attempt to replicate this here Robert Peston has a very distinctive style which may not be to everyone s taste but I love it Some of the concepts he has to explain are pretty complex and I appreciate the way in which he explains them in several different ways and then tells you what is really important with his trademark phrase Now here s the thing The fact that he does not provide a definitive solution, which I have seen as a complaint, seems to me to be a bit much considering what a masterly job he has done in analysing the problems I think a simplistic solution is neither probable nor desirable but there are plenty of ideas about the direction we should go and, frankly, it is not something government can solve alone anyway What does come out of this is just how minor are the supposed points of difference between Labour and the ConDems.I have seen criticism that the book was written quickly but I don t see this as necessarily bad However speedily it was written it has been well proof read as I could not find any errors My criticism is reserved for the process of Kindelisation which has led to 2 fundamental flaws Firstly the book is not recognised as being English by the Kindle dictionary system and secondly what looks like an excellent and comprehensive index lacks any numbers