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The Only Game in Town

The Only Game in Town Author Mohamed A. El-Erian
ISBN-10 9780812997637
Release 2016-01-26
Pages 336
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NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • With a new introduction by the author Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. Praise for The Only Game in Town “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”–Time “A grand tour of the challenges we face, along with ideal solutions and more likely outcomes . . . We desperately need a system in which the central banks are no longer the only game in town.”—Steven Rattner, The New York Times Book Review “A must-read from one of the most astute financial analysts of our time.”—Walter Isaacson, author of Steve Jobs “El-Erian’s gift for clarity and his use of compelling examples make important economic issues accessible.”—Anne-Marie Slaughter, president and CEO, New America “[A] highly intelligent analysis.”—Fareed Zakaria, CNN (book of the week)



The Only Game in Town Central Banks Instability and Avoiding the Next Collapse

The Only Game in Town   Central Banks  Instability  and Avoiding the Next Collapse Author Mohamed A. El-Erian
ISBN-10 9780300222531
Release 2016-03-01
Pages 288
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The Only Game in Town Central Banks Instability and Avoiding the Next Collapse has been writing in one form or another for most of life. You can find so many inspiration from The Only Game in Town Central Banks Instability and Avoiding the Next Collapse also informative, and entertaining. Click DOWNLOAD or Read Online button to get full The Only Game in Town Central Banks Instability and Avoiding the Next Collapse book for free.



The Only Game in Town

The Only Game in Town Author Mohamed A. El-Erian
ISBN-10 9780300223064
Release 2016-03-08
Pages 320
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Surrounded by sluggish growth, high rates of unemployment, rising inequality, growing financial instability and increased social tensions, pessimism about our future abounds. Dr. Mohamed A. El-Erian, one of the world’s most influential economic thinkers, explains lucidly the realities of the economic choices that we will soon face. The path that the global economy and markets are on is ending. But what comes thereafter is far from predestined. It critically depends on choices that we make as households and companies, and decisions that our political representatives take. The Only Game in Town details how the world is increasingly being shaken, both from above and from below. It illuminates the growing internal contradictions, the constraints that are undermining growth and prosperity, and the radical overhaul in thinking that is required. In the aftermath of the financial crisis, central banks were handed responsibility for the fate of the global economy. Lifting the veil on the inner workings of these powerful and innovative institutions, El-Erian explains why they cannot save us this time around. Laying out a road map for growth, The Only Game in Town shows how and why collaboration between central bankers, policymakers and business leaders is essential. Drawing on insights from behavioral science, economics and finance, this book provides the tools needed to understand the uncertainties that lie ahead and return us to a path of prosperity. Thought provoking and insightful, this book is required reading for investors, policymakers, and anyone interested in the future.



Summary of The Only Game in Town

Summary of The Only Game in Town Author Instaread Summaries
ISBN-10 1945272465
Release 2016-04-06
Pages 32
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Summary of The Only Game in Town by Mohamed A. El Erian | Includes AnalysisPreview:Mohamed A. El-Erian's The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse is a discussion of the role of central banks in confronting the current financial and economic dangers facing the world. Following the financial collapse of 2008, central banks pursued aggressive and innovative policies in an effort to stabilize the world economy. Policy makers have failed to enact the measures necessary to ensure growth, and so central banks have had to continue to innovate and stabilize. In the long term, however, central banks cannot sustain growth on their own. If governments do not take steps to create growth and regulate financial markets, there will be another financial crisis...PLEASE NOTE: This is summary and analysis of the book and NOT the original book.Inside this Instaread Summary of The Only Game in Town:Overview of the bookImportant PeopleKey TakeawaysAnalysis of Key TakeawaysAbout the AuthorWith Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.



The End of Alchemy Money Banking and the Future of the Global Economy

The End of Alchemy  Money  Banking  and the Future of the Global Economy Author Mervyn King
ISBN-10 9780393247039
Release 2016-03-21
Pages 368
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“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers 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.



Makers and Takers

Makers and Takers Author Rana Foroohar
ISBN-10 9780553447255
Release 2017
Pages 388
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"Award-winning business journalist Rana Foroohar shows how the shortsighted and misguided financial practices that nearly toppled the global economy in 2008 have come to infiltrate all corners of American business--putting us on a dangerous collision course to another economic meltdown that will make 2008 look like a mere blip in the business cycle"--



When Markets Collide Investment Strategies for the Age of Global Economic Change

When Markets Collide  Investment Strategies for the Age of Global Economic Change Author Mohamed El-Erian
ISBN-10 9780071592826
Release 2008-07-01
Pages 304
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SELECTED AS A 2008 BEST BUSINESS BOOK OF THE YEAR BY THE ECONOMIST "ONE OF THE SMARTEST INVESTORS ON THE PLANET."--MONEY MAGAZINE “This book is an essential read for those who wish to understand the modern world of investing.” —Alan Greenspan Winner of the 2008 Financial Times and Goldman Sachs Business Book of the Year Award When Markets Collide is a timely alert to the fundamental changes taking place in today's global economic and financial systems--and a call to action for investors who may fall victim to misinterpreting important signals. While some have tended to view asset class mispricings as mere “noise,” this compelling book shows why they are important signals of opportunities and risks that will shape the market for years to come. One of today's most respected names in finance, Mohamed El-Erian puts recent events in their proper context, giving you the tools that can help you interpret the markets, benefit from global economic change, and navigate the risks. The world economy is in the midst of a series of hand-offs. Global growth is now being heavily influenced by nations that previously had little or no systemic influence. Former debtor nations are building unforeseen wealth and, thus, enjoying unprecedented influence and facing unusual challenges. And new derivative products have changed the behavior of many market segments and players. Yet, despite all these changes, the system's infrastructure is yet to be upgraded to reflect the realities of today's and tomorrow's world. El-Erian investigates the underlying drivers of global change to shed light on how you should: Think about the new opportunities and risks Construct an appropriately diversified and internationalized portfolio Protect your portfolio against new sources of systemic risk Best think about the impact of central banks and financial policies around the world Offering up predictions of future developments, El-Erian directs his focus to help you capitalize on the new financial landscape, while limiting exposure to new risk configurations. When Markets Collide is a unique collection of books for investors and policy makers around the world. In addition to providing a thorough analysis and clear perspective of recent events, it lays down a detailed map for navigating your way through an otherwise perplexing new economic landscape.



Grave New World

Grave New World Author Stephen D. King
ISBN-10 9780300240078
Release 2018-05-22
Pages 304
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A controversial look at the end of globalization and what it means for prosperity, peace, and the global economic order Globalization, long considered the best route to economic prosperity, is not inevitable. An approach built on the principles of free trade and, since the 1980s, open capital markets, is beginning to fracture. With disappointing growth rates across the Western world, nations are no longer willing to sacrifice national interests for global growth; nor are their leaders able—or willing—to sell the idea of pursuing a global agenda of prosperity to their citizens. Combining historical analysis with current affairs, economist Stephen D. King provides a provocative and engaging account of why globalization is being rejected, what a world ruled by rival states with conflicting aims might look like, and how the pursuit of nationalist agendas could result in a race to the bottom. King argues that a rejection of globalization and a return to “autarky” will risk economic and political conflict, and he uses lessons from history to gauge how best to avoid the worst possible outcomes.



The Little Book of Economics

The Little Book of Economics Author Greg Ip
ISBN-10 9781118417539
Release 2012-12-17
Pages 288
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An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward. From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening



The Age of Stagnation

The Age of Stagnation Author Satyajit Das
ISBN-10 9781633881587
Release 2016
Pages 337
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"Originally published as A banquet of consequences by Penguin Random House Australia in August 2015"--Title page verso.



Unelected Power

Unelected Power Author Paul Tucker
ISBN-10 9781400889518
Release 2018-05-22
Pages 656
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Guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good Central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. They pull the regulatory and financial levers of our economic well-being, yet unlike democratically elected leaders, their power does not come directly from the people. Unelected Power lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens. Paul Tucker draws on a wealth of personal experience from his many years in domestic and international policymaking to tackle the big issues raised by unelected power, and enriches his discussion with examples from the United States, Britain, France, Germany, and the European Union. Blending economics, political theory, and public law, Tucker explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. He explains why the solution must fit with how real-world government is structured, and why technocrats and their political overseers need incentives to make the system work as intended. Tucker explains how the regulatory state need not be a fourth branch of government free to steer by its own lights, and how central bankers can emulate the best of judicial self-restraint and become models of dispersed power. Like it or not, unelected power has become a hallmark of modern government. This critically important book shows how to harness it to the people's purposes.



The Alchemists

The Alchemists Author Neil Irwin
ISBN-10 0755362683
Release 2014
Pages 544
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When the first rumblings of the coming financial crisis were heard in August 2007, three men who were never elected to public office suddenly became the most powerful men in the world. They were the leaders of the world's three most important central banks: Ben Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and Jean-Claude Trichet of the European Central Bank. Over the next five years, they and their fellow central bankers deployed trillions of dollars, pounds and euros to try and contain the waves of panic that threatened to bring down the global financial system. Neil Irwin's The Alchemists is both a gripping account of the most intense exercise in economic crisis management we've ever seen, and an insightful examination of the role and power of the central bank. It begins in Stockholm, Sweden, in the seventeenth century, where central banking had its rocky birth, and then progresses through a brisk but dazzling tutorial on how the central banker came to exert such vast influence over our world. It is the story of how these figures and institutions became what they are - the possessors of extraordinary power over our collective fate. What they chose to do with those powers is the heart of the story Irwin tells. Irwin covered the financial crisis for the Washington Post, enjoying privileged access to leading central bankers and the people close to them. His account, based on reporting that took place in 27 cities in 11 countries, is the holistic, truly global story of the central bankers' role in the world economy we have been missing. It is a landmark reckoning with central bankers and their power, with the great financial crisis of our time, and with the history of the relationship between capitalism and the state. Definitive, revelatory, and riveting, The Alchemists shows us where money comes from--and where it may well be going.



The Curse of Cash

The Curse of Cash Author Kenneth S. Rogoff
ISBN-10 9781400888726
Release 2017-06-27
Pages 320
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From the New York Times bestselling author of This Time Is Different, "a fascinating and important book" (Ben Bernanke) about phasing out most paper money to fight crime and tax evasion—and to battle financial crises by tapping the power of negative interest rates The world is drowning in cash—and it's making us poorer and less safe. Kenneth Rogoff, New York Times bestselling author of This Time Is Different, makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money. Even as people in advanced economies are using less paper money, there is more cash in circulation—a record $1.4 trillion in U.S. dollars alone, or $4,200 for every American, mostly in $100 bills. And the United States is hardly exceptional. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy. As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. This constraint has paralyzed monetary policy in virtually every advanced economy, and is likely to be a recurring problem in the future. The Curse of Cash offers a plan for phasing out most paper money—while leaving small-denomination bills and coins in circulation indefinitely—and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor. While phasing out the bulk of paper money will hardly solve the world’s problems, it would be a significant step toward addressing a surprising number of very big ones. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash is certain to spark widespread debate.



How the Economy Works

How the Economy Works Author Roger E. A. Farmer
ISBN-10 0199756376
Release 2010-04-08
Pages 208
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"Of all the economic bubbles that have been pricked," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore.



The People s Money

The People s Money Author Paola Subacchi
ISBN-10 9780231543262
Release 2016-11-15
Pages 256
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Many of the world’s major economies boast dominant international currencies. Not so for China. Its renminbi has lagged far behind the pound, the euro, and the dollar in global circulation—and for good reason. China has long privileged economic policies that have fueled development at the expense of the renminbi’s growth, and it has become clear that the underpowered currency is threatening China’s future. The nation’s leaders now face the daunting task of strengthening the currency without losing control of the nation’s economy or risking total collapse. How are they approaching this challenge? In The People’s Money, economist Paola Subacchi introduces readers to China’s monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in1978. She revisits the policies that fostered the country’s economic rise while at the same time purposefully creating a currency of little use beyond China’s borders. She shows the key to understanding China’s economic predicament lies in past and future strategies for the renminbi. The financial turbulence following the global crisis of 2008, coupled with China’s ambitions as a global creditor and chief economic power, has forced the nation to reckon with the limited international circulation of the renminbi. Increasing the renminbi’s reach will play a major role in securing China’s future.



Self Made Success

Self Made Success Author Shaan Patel
ISBN-10 1532854773
Release 2016-04-21
Pages 278
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Some people succeed financially. Others succeed academically. Still others succeed spiritually, mentally, and emotionally. But there are a select few who succeed across all fields-the Self-Made Successes. This book reveals the exact blueprint of how you can achieve success on every level.* Universal Success Strategies - From harnessing Parkinson's Law to mastering the powerful Pareto Principle, learn to get what you want out of life.* Wealth Success Strategies - Dream of amassing wealth? It's easy to capture it all if you remember to never trade your time for money and be the big fish in a small pond.* Entrepreneurship Success Strategies - Be your own boss. Launch your company by doing what you already know-and never go to a gunfight without bullets.* Social Success Strategies - Outsider no more. Grow your social skills by learning how to embrace your failures and never playing the comparison game.* Productivity Success Strategies - You can work smarter and harder with these six steps to greater productivity, like starting your day with a Morning Power Hour.* Mental Success Strategies - You are in charge of your own mind. Sweat out these mental bench presses, such as treating entitlement as the enemy, for a stronger mind.* Marketing Success Strategies - Get noticed. Learn the secrets to planting viral content and joining people to your cause to make a splash in the world.* Academic Success Strategies - Go to college-and survive! You'll earn honors with these secrets to studying the easy way.So can you really have it all at a young age? Yes. Throw out the conventional wisdom that says you have to pay your dues or climb the corporate ladder. You can have it all and you can have it now. In Self-Made Success, I will show you how.



Fed Up

Fed Up Author Danielle DiMartino Booth
ISBN-10 9780735211650
Release 2017
Pages 326
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In the early 2000s, a Wall Street escapee writing a financial column for the Dallas Morning News, Booth attracted attention for her criticism of the Fed's low interest rate policies and her warnings about the housing market. Nobody was more surprised when the head of the Dallas Federal Reserve offered her a job as a financial analyst. Figuring she could have more of an impact on Fed policies from inside, she also observed how the Fed abdicated its responsibility to the people both before and after the financial crisis and how nobody within the Fed seems to have learned from the experience.