Archive for April 14th, 2014

Money. The unauthorized biography. Felix Martin

English: The largest ethnic group as percent o...

Money. The unauthorized biography. Felix Marti. 2014. ISBN 978030796243. This was a fascinating book that slowly drew me in as the author ( economist, columnist , academic) developed his theme.  Like the book on Debt,  the author has a particular economic POV , yet my own readings after the 2008 collapse seem to support his thoughts .  You will trace money/currency from the earliest times ( the stories are fascinating)  right up to present day and its dependence on credit, trust and credibility. . He does make sense out of why economists missed the collapse of banking/credit etc.  You will learn how the credit support of national government was needed to prop things up , that as it stands the govt is still taking all the risk and none of the upside – leaving the financial industry able to make bets and only have an upside , no downside. He gives  ideas from history that show how we can improve the system in each nation state and internationally, with the goal of a stable prosperous economy with benefits for all.  I suggest that this is an important book for all of us and worth the early trudging to get to the final chapters. I especially appreciated his wrap up chapter where he did a great job in boiling this into some very simple ideas.  The language is easy to read, but you can not hurry through this book.

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