Book by PM's economic advisor on business award list

In what is seen as a boost to Indian non-fiction publishing, a book by Raghuram Rajan, economic advisor to the prime minister, has been shortlisted for the sixth annual Financial Times and Goldman Sachs Business Book of the Year Award.

Fault-Lines: How Hidden Fractures Still Threaten The World Economy was one of six books shortlisted for the award, said a statement by the publisher, HarperCollins-India. The winner will be awarded a purse of 30,000 pounds and a citation.

The book probes the hard choices that can prevent another recession. The financial collapse of 2007 and the 'great recession' that followed left many economists on the defensive.

The book asks what happened to the usual regulatory checks and balances and to the discipline imposed by markets?

What happened to the private instinct for self-preservation? Is the free enterprise system fundamentally flawed? These are not questions that would arise if this were 'just another' emerging market crisis. And given the cost of this crisis, we cannot afford facile or wrong answers. Fault Lines tries to look at answers to the questions raised during the recession.

Full report here Sify