The End Of Alchemy

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The End Of Alchemy Money Banking And The Future Of The Global Economy

The End Of Alchemy
Author: Mervyn King
Publisher: W. W. Norton & Company
ISBN: 0393247031
Size: 18.43 MB
Format: PDF
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“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.
The End of Alchemy
Language: un
Pages: 448
Authors: Mervyn King
Categories: Business & Economics
Type: BOOK - Published: 2016-03-03 - Publisher: Hachette UK
'A fearless and important book . . . The End of Alchemy isn't just an elegant guide to the history of economic ideas. It also gives a genuine insider's account' Telegraph The past twenty years saw unprecedented growth and stability followed by the worst financial crisis the industrialised world has
Prophecy, Alchemy, and the End of Time
Language: en
Pages: 272
Authors: Leah DeVun
Categories: History
Type: BOOK - Published: 2013-12-01 - Publisher: Columbia University Press
In the middle of the fourteenth century, the Franciscan friar John of Rupescissa sent a dramatic warning to his followers: the end times were coming; the apocalypse was near. Rupescissa's teachings were unique in his era. He claimed that knowledge of the natural world, and alchemy in particular, could act
The End of Alchemy
Language: un
Pages: 24
Authors: Roger E. A. Farmer
Categories: Banking law
Type: BOOK - Published: 2017 - Publisher:
I review The End of Alchemy by Mervyn King, published by W.W. Norton and Company in 2016. I discuss King's proposed regulatory reform, the ‘Pawn Broker for All Seasons’ (PFAS) and I compare it to an alternative solution developed in my own work. I argue that unregulated trade in the
Плутократи. Епоха нових багатих і занепад старої системи
Language: uk
Pages: 328
Authors: Христя Фріланд
Categories: Business & Economics
Type: BOOK - Published: 2017-07-18 - Publisher: Наш формат
Сучасні багатії перетворилися на глобальну спільноту рівних: у них більше спільного між собою, ніж зі співвітчизниками. Цей новий клас два десятиліття досліджувала Христя Фріланд. Через численні інтерв’ю авторка препарує життя плутократів з глибоким розумінням і навіть співчуттям. Йде слідами російських, мексиканських, індійських олігархів під час буму приватизації, показує гендерні відмінності
Переможець завжди самотній
Language: uk
Pages:
Authors: Пауло Коельйо
Categories: Fiction
Type: BOOK - Published: 2016-04-03 - Publisher: Family Leisure Club
Books about Переможець завжди самотній
The Secrets of Alchemy
Language: en
Pages: 281
Authors: Lawrence Principe
Categories: History
Type: BOOK - Published: 2012-11-01 - Publisher: University of Chicago Press
An accessible history of alchemy by a leading world authority explores its development and relationship with myriad disciplines and pursuits, tracing its heyday in early modern Europe while profiling some of history's most colorful alchemists and describing the author's recreation of famous alchemy recipes.
23 прихованих факти про капіталізм
Language: uk
Pages: 296
Authors: Ха-Юн Чанґ
Categories: Political Science
Type: BOOK - Published: - Publisher: Наш формат
Капіталізм — погана економічна система, але всі інші ще гірші, стверджує економіст Ха-Юн Чанґ, перефразовуючи слова Вінстона Черчилля. Від того, чи готові люди (особливо ті, хто має владу) тверезо поглянути на проблеми цієї системи та вдосконалювати її, залежатиме економічне процвітання країн. Чи мають компанії враховувати інтереси лише своїх власників? Що
The Alchemist
Language: en
Pages: 254
Authors: Erin Julian, Helen Ostovich
Categories: Literary Criticism
Type: BOOK - Published: 2013-05-23 - Publisher: A&C Black
The eponymous alchemist of Ben Jonson's quick-fire comedy is a fraud: he cannot make gold, but he does make brilliant theatre. The Alchemist is a masterpiece of wit and form about the self-delusions of greed and the theatricality of deception. This guide will be useful to a diverse assembly of
The Mysteries of the Great Cross of Hendaye
Language: un
Pages: 528
Authors: Jay Weidner, Vincent Bridges
Categories: Body, Mind & Spirit
Type: BOOK - Published: 2003-12-10 - Publisher: Inner Traditions / Bear & Co
Decodes the message held by this enigmatic monument, revealing the alchemical secret of time and the fate of humanity.
Zaïr
Language: en
Pages: 349
Authors: Paulo Coelho
Categories: Man-woman relationships
Type: BOOK - Published: 2005 - Publisher:
A writer's wife disappears from their Paris home, and authorities suspect his role in her diappearance may have been a causal one. A period of introspective self-analysis, aided by the mysterious Mikhail, leads him to a closer relationship with his wife.