BBC’s Robert Peston Predicts “The New Capitalism”

The BBC’s Business Editor, an experienced business and financial correspondent, came to popular prominence in 2008 when he “broke” the story that the Northern Rock bank was in trouble. Some have said that it was his report that caused panic amongst the bank’s savers, causing the “run” on the bank which led to it having to be rescued by the UK Government and nationalised. 

His blog on the BBC website http://www.bbc.co.uk/blogs/thereporters/robertpeston/ should be essential reading for anyone interested in the UK and its economy. 

But you may be especially interested to read his end of year (2008) essay in which he predicts a new form of capitalism and makes some economic predictions for 2009 and beyond: 

The New Capitalism

There’s next year, and then there’s the next decade.

Economic conditions in 2009 will be treacherous. There’ll be a formal recession in most developed economies, and the economic contraction is highly likely to be more severe in the UK than almost anywhere else.

Read the full essay here: Robert Peston – New Capitalism