The End of Alchemy

Money, Banking and the Future of the Global Economy

Author: Mervyn King

Publisher: Hachette UK

ISBN: 1408706121

Category: Business & Economics

Page: 448

View: 6364

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'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 ever witnessed. In the space of little more than a year what had been seen as the age of wisdom was viewed as the age of foolishness. Almost overnight, belief turned into incredulity. Most accounts of the recent crisis focus on the symptoms and not the underlying causes of what went wrong. But those events, vivid though they remain in our memories, comprised only the latest in a long series of financial crises since our present system of commerce became the cornerstone of modern capitalism. Alchemy explains why, ultimately, this was and remains a crisis not of banking - even if we need to reform the banking system - nor of policy-making - even if mistakes were made - but of ideas. In this refreshing and vitally important book, former governor of the Bank of England Mervyn King - an actor in this drama - proposes revolutionary new concepts to answer the central question: are money and banking a form of Alchemy or are they the Achilles heel of a modern capitalist economy?
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Economic Theology

Credit and Faith II

Author: Philip Goodchild

Publisher: Rowman & Littlefield Publishers

ISBN: 1786614286

Category: Credit

Page: 212

View: 815

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Goodchild offers a philosophical analysis of the contemporary economy in terms of the way it structures credit and faith.
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The State of Economics, the State of the World

Author: Kaushik Basu,David Rosenblatt,Claudia Sepulveda

Publisher: MIT Press

ISBN: 0262353482

Category: Business & Economics

Page: 552

View: 1720

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Leading economists address the ongoing challenges to economics in theory and practice in a time of political and economic crises. More than a decade of financial crises, sovereign debt problems, political conflict, and rising xenophobia and protectionism has left the global economy unsettled and the ability of economics as a discipline to account for episodes of volatility uncertain. In this book, leading economists consider the state of their discipline in a world of ongoing economic and political crises. The book begins with three sweeping essays by Nobel laureates Kenneth Arrow (in one of his last published works), Amartya Sen, and Joseph Stiglitz that offer a summary of the theoretical foundations of modern economics—the twin pillars of general equilibrium theory and welfare economics. Contributors then turn to macroeconomic stabilization and growth and, finally, new areas of research that depart from traditional theory, methodology, and concerns: climate change, behavioral economics, and evolutionary game theory. The 2019 Nobel Prize laureates, Abhijit Banerjee, Esther Duflo, and Michael Kremer, contribute a paper on the use of randomized control trials indevelopment economics. Contributors Philippe Aghion, Ingela Alger, Kenneth Arrow, Abhijit Banerjee, Kaushik Basu, Lawrence Blume, Guillermo Calvo, Francesco Caselli, Asli Demirgüç-Kunt, Shantayanan Devarajan, Esther Duflo, Samuel Fankhauser, James Foster, Varun Gauri, Xavier Gine, Gäel Giraud, Gita Gopinath, Robert Hockett, Karla Hoff, Ravi Kanbur, Aart Kraay, Michael Kremer, David McKenzie, Célestin Monga, Maurice Obstfeld, Hamid Rashid, Martin Ravallion, Amartya Sen, Luis Servén, Hyun Song Shin, Nicholas Stern, Joseph Stiglitz, Cass Sunstein, Michael Toman, Jörgen Weibull
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The Rise of Finance

Causes, Consequences and Cures

Author: V. Anantha Nageswaran,Gulzar Natarajan

Publisher: Cambridge University Press

ISBN: 1108633250

Category: Business & Economics

Page: N.A

View: 5593

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Financialisation, or the disproportionate importance of financial considerations in economic decisions, has been a defining feature of the economic history of the last twenty-five years. The wave of deregulation that accompanied the neoliberal agenda in the US, aided by the dominance of US dollar and American economy, has resulted in the globalisation of finance. This book examines the rise of financialisation globally, while charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. Bringing together various strands of the latest research and evidence generated in recent years, empirical analysis, and views of reputed experts in the field, it presents a counter-point to the canonical ideas of analysing financial market dynamics and financial globalisation. It proposes a revision of the current monetary policy paradigm to correct its excessive focus on equity markets and their 'wealth effect', embrace a more symmetric response to the economic cycle, and a mandate to focus on financial stability as much as price stability.
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EMERGO

Journal of Transforming Economies and Societies

Author: N.A

Publisher: N.A

ISBN: N.A

Category: Europe, Eastern

Page: N.A

View: 5034

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Worldview

Author: N.A

Publisher: N.A

ISBN: N.A

Category: Christianity and international affairs

Page: N.A

View: 5971

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