The financial crisis explained through fishing

The former governor of the Bank of England Mervyn King likens the financial crisis to investment in a new way of catching fish on an imaginary island where fishing is the only industry.

Lord King explained the story that appears in his new book 'The End of Alchemy' to Martha Kearney on the World at One.

(Image: A Sri Lankan fisherman casts his net into the sea. Credit: AP)