Paper Promises: Debt, Money, and the New World Order
| Author | : | |
| Rating | : | 4.26 (849 Votes) |
| Asin | : | 1610391268 |
| Format Type | : | paperback |
| Number of Pages | : | 304 Pages |
| Publish Date | : | 2013-10-30 |
| Language | : | English |
DESCRIPTION:
Excessive Debt or the Illusion of Wealth Serge J. Van Steenkiste Philip Coggan explores with much clarity the different cycles in which money and debt have expanded. Mr. Coggan reminds his audience that money is concomitantly a medium of exchange, a unit of account, and a store of value. Two of these monetary roles - the means of exchange and store of value - lie at the heart of the ongoing struggle between creditors and debtors.Starting in the United Kingdom in the late eighteenth century, the Industrial Revolution resulted into accelerated economic growth, significant population increase, and more trade across the developed world and its co. "Superb book about money, debt and the challenges to come" according to sien. Paper Promises (2011) by Phillip Coggan is a masterful study of money and debt. Coggan worked at the Financial Times for 20 years and now writes at The Economist. He has written a number of books on finance that are all highly regarded. The book looks at the history of money and credit and concentrates on the post industrial revolution world where credit and fiat currency rapidly expanded.The book starts with a brief look at money in history before moving the C19 and then C20 and most of the book looks at the period from the depression onwards. The impact of tight money in the d. Great for general investor reading crowd Great summary of past market turmoil with the credit crunch. He does a great job of bringing together opposing views, so that a reader can hear BOTH sides of an argument and gain some perspective on why the markets got so out of tune. (I don't enjoy the "I'm right and I saw it coming" type of books. Instead, the author has a perspective, but importantly gives opposing views and quotes, developing an understanding of why otherwise rational people and investors go off-track in a significant way). The chapters are clear, and the examples are good. The author notes his sources well,
Now, as the reality dawns that many debts cannot be repaid, we find ourselves again in crisis. But the oncoming defaults have a time-worn place in our economic history. Just as Britain set the terms of the international system in the nineteenth century, and America in the twentieth century, a new system will be set by today's creditors in China and the Middle East. Winner of the Spear's Best Business Book AwardLonglisted for the 2012 Financial Times and Goldman Sachs Business Book of the Year AwardFor the past forty years western economies have splurged on debt. As with the crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge. In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers and
Indeed, it offers a clear explanation of the fresh ideological divisions that have arisen over how to deal with the crisis Paper Promises shows that both Occupy and the Tea Party have real reason to be angry The book should be taken very seriously.” New Statesman"Writing with a lucidity that enables him to convey deep insights without a trace of jargon. Thoughtful and thorough.”Kirkus, November 15, 2011Comprehensive. The book is free from the shrieking ideology that afflicts virtually all contemporary debates over money. Every page brings a fresh insight or a new surprise.