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The end of alchemy : money, banking, and the future of the global economy / Mervyn King.

By: King, Mervyn A [author.].
Material type: TextTextPublisher: New York : W.W. Norton & Company , 2016Edition: First edition.Description: xv, 430 pages ; 25 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9780393247022 (hardcover); 0393247023 (hardcover).Subject(s): Capitalism | International finance | Banks and banking, International | Financial institutions | Financial crisesDDC classification: 330.12/2 LOC classification: HB501 | .K46888 2016
Contents:
The good, the bad and the ugly -- Good and evil : in money we trust -- Innocence lost: alchemy and banking -- Radical uncertainty : the purpose of financial markets -- Heroes and villains : the role of central banks -- Marriage and divorce : money and nations -- Innocence regained : reforming money and banking -- Healing and hurbis : the world economy today -- The audacity of pessimism : the prisoner's dilemma and the coming crisis.
Summary: The former governor of the Bank of England recounts his country's experiences throughout the Great Recession while outlining a blueprint for recovery-era capitalism that is more resilient to modern boom-and-bust cycles.
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Book University of Texas At Tyler
Stacks - 3rd Floor
HB501 .K46888 2016 (Browse shelf) Available 0000002101210

Includes bibliographical references (pages 371-417) and index.

The good, the bad and the ugly -- Good and evil : in money we trust -- Innocence lost: alchemy and banking -- Radical uncertainty : the purpose of financial markets -- Heroes and villains : the role of central banks -- Marriage and divorce : money and nations -- Innocence regained : reforming money and banking -- Healing and hurbis : the world economy today -- The audacity of pessimism : the prisoner's dilemma and the coming crisis.

The former governor of the Bank of England recounts his country's experiences throughout the Great Recession while outlining a blueprint for recovery-era capitalism that is more resilient to modern boom-and-bust cycles.

Reviews provided by Syndetics

Library Journal Review

King (former governor, Bank of England; Alan Greenspan Professor of Economics, New York Univ.) provides a terrific analysis of what went wrong in the global financial system and with economics in general. Readers are shown why almost every industrialized country found it difficult to overcome stagnation following the financial crisis of 2007-08. The central idea here is that money and banking are historical institutions developed before modern capitalism and owe a great deal to the technology of earlier times. The author accepts blame for the poor policy during his tenure at the Bank of England and proposes changes to the banking system. The basic notion is that all banks should have sufficient access to cash to meet the demands of depositors and others supplying short-term unsecured debt and examine the liabilities side of a bank's balance sheet-its total demand deposits and short-term unsecured debt (up to one year), which could run out at short notice. Patrons desiring further readings might consult Alan S. Blinder's After the Music Stopped. Verdict One of finest titles published on the 2007-08 financial crisis, this book deserves wide dissemination among all collections in business and economic history. It should be of interest to general readers and scholars. [See Prepub Alert, 9/28/15.]-Claude Ury, San Francisco © Copyright 2016. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.

Author notes provided by Syndetics

Mervyn King , former governor of the Bank of England, teaches at New York University and the London School of Economics.

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