<p>Mohamed El-Erian, author of <em>When Markets Collide: Investment Strategies for the Age of Global Economic Change</em> (McGraw-Hill) has won the £30,000 Financial Times and Goldman Sachs Business Book of the Year Award 2008. </p><p>It is the fourth year of the award, which aims to find the book that provides "the most compelling and enjoyable insight into modern business issues".</p><p>Lionel Barber, editor of the <em>Financial Times</em>, said: “<em>When Markets Collide</em> brings together the world of modern finance and macro-economics. It is lucid and prescient in its diagnosis of the present financial turmoil and offers important prescriptions for the way forward.”</p><p>
The other shortlisted titles will each receive £5,000. They are: <em>A Splendid Exchange: How Trade Has Shaped the World from Prehistory to the Present</em> by William Bernstein (Atlantic Books); <em>Cold Steel: The Multi-billion-dollar Battle for a Global Industry</em> by Tim Bouquet and Byron Ousey (Little Brown Book Group); <em>McMafia: Crime Without Frontiers</em> by
Misha Glenny (Random House); <em>Remix: Making Art and Commerce Thrive in the Hybrid Economy</em> by Lawrence Lessig (Bloomsbury Academic); and <em>The Snowball: Warren Buffett and the Business of Life</em> by Alice Schroeder (Bloomsbury Publishing).