Britain is at a crossroads. The decisions we take now about how to reshape our discredited capitalist system will profoundly affect whether the coming years will be ones of indefinite austerity or renewed prosperity. In The Road from Ruin, Matthew Bishop and Michael Green set out an agenda not just to restore Britain to prosperity but to make it a role model for the rest of the world.
A new culture of long-termism is needed in business and finance, to replace the current unsustainable, pervasive short-termism. Bishop and Green explain how this will require a change in the values of our business leaders, and the laws governing how companies are run. They also set out a new approach to financial regulation that works with the grain of human nature and harnesses the enlightened self-interest of the City.
Britain’s public finances need to be brought under control but the real challenge facing the government is to be not just smaller but smarter. Bishop and Green explain why the Big Society could be David Cameron’s most important idea, by connecting government better to the people – but only if it can embrace rather than reject capitalism.
This crisis is not just about toxic assets, it is about toxic ideas. A new paradigm is needed. Drawing both on cutting edge thinking in economics and the lessons of history, in The Road from Ruin Bishop and Green skilfully draw up a blueprint for a new capitalism for a big society.