Who Runs Britain? How Britain's new elite are changing our lives [Hardcover]

The title of the book poses a great question, but unfortunately the book itself makes very little attempt to actually answer it. There are some interesting anecdotes on a number of different topics, with no real coherent theme to bring them together.

I would imagine the book will appeal to those with little knowledge of the subject matter. Peston's writing style certainly makes the subject matter approachable. However attention to detail is poor. How can anyone have properly proofed a book that discusses Norman Lamont's 2003! budget, for example in Chapter 7. Some of the "factual" matter is simply embarrassingly wrong. For example when discussing Philip Green's possible takeover of M&S in Chapter 4, Peston cites a sharp increase in the amount of M&S shares borrowed as an indication that "astute investors had a whiff that a takeover bid was coming". You borrow stock so that you can SELL it and profit from the price FALLING. If you think there is going to be a bid then you would be buying, not selling and you have no need to borrow stock. If the author is unable to differentiate between buying and selling it does make you question which other "facts" were actually checked.

On completing the book I was left with the abiding thought that in these interesting economic times, those who really understand what's going on make money from calling the way the markets will move, and those who don't understand make money by selling books.

This is a curate's egg of a book -- good in parts. What ultimately makes it weak is that it is difficult to discern a theme. It asks the question: who runs Britain? but never actually, in say the way Anthony Sampson does, answers it.

From time to time it provides some analysis and commentary but by and large it is weak and doesn't really arrive at any sensible or compelling conclusions -- mostly, it provides an argument that the 'rich' are too rich that this is not good (though never really says why) and suggests that the nations of the world should unite to tax them more highly after conceding that unilateral higher taxation in the UK would lead to an exodus of these individuals. If you like old fashioned socialism then some of his comments and conclusions may resonate but it really is half baked stuff.

On the positive side it has some interesting chapters on Marks and Spencers, Philip Green, the Post Office and Hedge Funds -- all of which to the lay person are interesting and absorbing. The problem again is that there is no real coherent theme or conclusions that compel.

This book could do with a great deal more focus and might have even been better as a series of essays.

For the reader interested in a book to dip into and take pot luck this one provides a few chapters of genuine interest. For the reader interested in who runs Britain, what is wrong with the current set up and how it can be fixed will find this a poor attempt indeed.

Depsite an overlong and rather tedious chapter on M&S and a poor title, this book offers fascinating insights into the global financial crisis we are all facing. For those who want to be inducted into the arcane - but nevertheless important - mysteries of "hedge funds" and "private equities", Peston offers clear, jargon-free explanations. Also an eye-opening account of Gordon Brown's / the Treasury's intense wooing, via tax-breaks, of financiers making speculative bets rather than building robust wealth-creating businesses. The "Morning Star" gave this book a big thumbs up - which certainly says something about Peston's ability to strip bare the mechanisms of capitalism... An important and extremely knowlegeable account of what will doubtless prove to be a major turning point in history.