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Given the cost to all of us of the global economic crisis, we need to understand what went wrong and what policy choices will have to be made to tackle the true causes of this crisis and to avert futur

Given the cost to all of us of the global economic crisis, we need to understand what went wrong and what policy choices will have to be made to tackle the true causes of this crisis and to avert future ones. The basic ideas of the free enterprise system are sound, but that there are deep "fault lines" in the global economy. This is because, what is best for the individual or institution is not always best for the system.

Our business decisions are made against an understanding of the economic context; we cannot afford facile or wrong answers to what it is all about.

Rajan was one of the few economists who warned of the global financial crisis before it hit. He is a professor at the University of Chicago and has served as the chief economist at the International Monetary Fund.

This book is the winner of the 2010 Financial Times and Goldman Sachs Business Book of the Year Award and was named one of the 2010 Top Thirty Business Books of the Year, by Bloomberg News.