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Prospect’s new issue: what comes next?

By Tom Chatfield  

“Any great failure should force us to rethink,” begins Robert Skidelsky’s cover story for our new issue. And there can be few failures more lurid than the current crisis of the global financial system. It embodies, Skidelsky argues, a profound moral as well as a pragmatic failure—not only has an “intellectual edifice” toppled, but the world’s largely uncritical acceptance of the very idea of a system built on debt and leverage is wavering.

It is a long time since we’ve entered a new year facing such bleak global tidings. But, as…

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