Fault Lines wins business book of the year accolade
28th October 2010
Raghuram G. Rajan has been named the winner of the Financial Times and Goldman Sachs Business Book of the Year Award 2010.
Rajan scooped the GBP 30,000 prize with Fault Lines: How Hidden Fractures Still Threaten the World Economy, which examines how the recent financial crisis was caused and recommends how future recovery can be supported.
Presenting the award, Financial Times editor Lionel Barber commented: 'Rajan offers insights into how to correct the flaws in financial capitalism and illuminates difficult choices in public policy. It is a serious and sober book, but in these times sobriety is a virtue.'
Lloyd C. Blankfein, chairman and chief executive of the Goldman Sachs Group, added that Fault Lines is a 'profound, compelling book', which should be required reading for policymakers and those in the financial services industry.
Sheena Iyengar's The Art of Choosing, The Facebook Effect by David Kirkpatrick, Michael Lewis' The Big Short, More Money than God by Sebastian Mallaby and Andrew Ross Sorkin's Too Big to Fail were the other titles shortlisted for the prize.
Last year's Financial Times and Goldman Sachs Business Book of the Year honour was awarded to Liaquat Ahamed for Lords of Finance. The book then won the 2010 Pulitzer Prize for history.