Coverart for item
The Resource The end of alchemy : money, banking and the future of the global economy, Mervyn King

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

Label
The end of alchemy : money, banking and the future of the global economy
Title
The end of alchemy
Title remainder
money, banking and the future of the global economy
Statement of responsibility
Mervyn King
Creator
Author
Subject
Genre
Language
eng
Summary
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
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-world boom-and-bust cycles
Tone
Writing style
http://library.link/vocab/ext/novelist/bookUI
10473063
Cataloging source
DLC
http://library.link/vocab/creatorName
King, Mervyn A
Dewey number
330.12/2
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/resourcePreferred
True
http://library.link/vocab/subjectName
  • Capitalism
  • International finance
  • Banks and banking, International
  • Financial institutions
  • Financial crises
  • Banks and banking, International
  • Capitalism
  • Financial crises
  • Financial institutions
  • International finance
Target audience
adult
http://bibfra.me/vocab/lite/titleRemainder
money, banking, and the future of the global economy
Label
The end of alchemy : money, banking and the future of the global economy, Mervyn King
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ocn909974163
Edition
First edition.
Extent
1 volume.
Isbn
9780393247022
Isbn Type
(hardcover)
Lccn
2015048306
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)909974163
Label
The end of alchemy : money, banking and the future of the global economy, Mervyn King
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ocn909974163
Edition
First edition.
Extent
1 volume.
Isbn
9780393247022
Isbn Type
(hardcover)
Lccn
2015048306
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
System control number
(OCoLC)909974163

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