The End of Alchemy.pdf

The End of Alchemy

Mervyn King


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?



Sayfa Sayısı: 448

Baskı Yılı: 2016


Dili: İngilizce
Yayınevi: Little, Brown Book Group

The implication of the title is that the financial crash meant an end of bankers ‘creating’ products (that they defined as money) essentially from nothing. As I read this book I concluded the title was more subtle: Mervyn King explains how the crash was not the end of alchemy, it was the final step in the process.

3.18 MB Dosya boyutu
9781408706114 ISBN

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Güncel Notlar

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ACAR YALÇIN

The End of Alchemy gives an insider's view on the role and evolution of central banking in the last 20 years. The author outlines in plain language how central banks operate, the economic theories that frame those operations and how those theories and the practice of monetary policy have changed as the conditions have changed. 14.03.2016

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KORKMAZ YAVUZ

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 ...

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DOĞAN KARA

By the end of July 2012, exit from the euro for Greece and perhaps others was becoming accepted as likely. The ECB, the European Commission and the German government had plans for how to handle...

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ÖZTÜRK ÖZDEMİR

Mar 19, 2017 ... The End of Alchemy Mervyn King was the governor of the Bank of England during the 2008 financial crisis. Unlike other books about the crisis, ... The End of Alchemy: Money, Banking and the Future of the Global Economy ( English Edition) eBook: King, Mervyn: Amazon.es: Tienda Kindle.

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ÇELİK YILDIRIM

Oct 17, 2017 ... The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King, Published by W. W. Norton & Company; 1st ... 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 ...