I.O.U. by John Lanchester
Why Everyone Owes Everyone and No One Can Pay

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...it's something he understands at the level of tone and sentence structure. I'm not quite sure how he does it. But he's written a book that not only zips by, it makes you want to reread it. And it's important.
-Guardian

Synopsis

For most people, the reasons for the sudden collapse of our economy still remain obscure. I.O.U. is the story of how we came to experience such a complete financial disaster, starting with the magical proliferation of credit that led to an explosion of lending on the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history—from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages—Lanchester deftly draws conclusions on the limitations of financial and governmental regulation, capitalism’s deepest flaw, and most important, on the plain and simple facts of human nature where cash is concerned.

With newly updated, superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for expert and casual reader alike. Part economic primer, part fiscal and historical analysis, I.O.U. is an eye-opener of a book.
 

About John Lanchester

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John Lanchester is the author of The Debt to Pleasure (winner of the Whitbread and Hawthornden prizes) and Mr. Phillips. Raised in Hong Kong, he now lives in London with his wife and sons.
 
Published December 26, 2009 by Simon & Schuster. 276 pages
Genres: Business & Economics, History, Political & Social Sciences. Non-fiction
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Guardian

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Reviewed by Nicholas Lezard on Oct 01 2010

...it's something he understands at the level of tone and sentence structure. I'm not quite sure how he does it. But he's written a book that not only zips by, it makes you want to reread it. And it's important.

Read Full Review of I.O.U.: Why Everyone Owes Eve... | See more reviews from Guardian

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