The Penguin Economist Special reports delve into the most pressing economic issues of the day: from national and global economies, to the impact of trade, industry and jobs. Written to be read on a long commute or in your lunch hour - be better informed in under an hour.

Is financial innovation good or bad?

Did it cause the financial crisis of 2007/2008?

Are the current financial systems working for a stable global economy?

Andrew Palmer answers these questions in his special report, but urges that it's more that just a debate on whether financial innovation does or doesn't work. In fact, he claims, it is almost impossible to draw these distinctions.

Using a variety of examples - from social bonds to securitisations risks - he highlights the weaknesses in innovative strategies, revealing how some innovation is doomed to failure.

The consequences of innovation are now so crucial and so scrutinised - it is essential reading for anyone in the business world.

Sections include:

Playing with fire

The ferment of finance

The little guy

From vanilla to rocky road

The fast and furious

Of plumbing and promises

On the side of the angels

Safety first