Price of Time (häftad)
Format
Ljudbok
Filformat
MP3 (0.0 MB)
Nedladdning
Kan laddas ned under 24 månader, dock max 6 gånger.
Språk
Engelska
Inläsare
Luis Soto
Utgivningsdatum
2022-07-07
Förlag
Penguin Books Ltd
ISBN
9781802061970

Price of Time Ljudbok

The Real Story of Interest

Ljudbok,  Engelska, 2022-07-07
214
Lyssna i Bokus Reader för iOS och Android
Finns även som
Visa alla 5 format & utgåvor
Brought to you by Penguin.

The first book of the next crisis.


All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest: the price that individuals, companies and nations pay to borrow money.

In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law '' s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.

Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead.

© Edward Chancellor 2022 (P) Penguin Audio 2022
Visa hela texten

Kundrecensioner

Har du läst boken? Sätt ditt betyg »

Fler böcker av Edward Chancellor

  • Devil Take the Hindmost: A History of Financial Speculation

    Edward Chancellor

    Devil Take the Hindmost is a lively, original, and challenging history of stock market speculation from the seventeenth century to the present day. Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles ...

  • Capital Returns

    Edward Chancellor

    We live in an age of serial asset bubbles and spectacular busts. Economists, policymakers, central bankers and most people in the financial world have been blindsided by these busts, while investors have lost trillions. Economists argue that bubbl...