Chancellor, Edward The Price of Time 9780241569160

Варианты приобретения

Цена: 22000.00T
Кол-во:
о цене
Наличие: Невозможна поставка.

в Мои желания

Автор: Chancellor, Edward (Эдвард Ченселлор)
Название: The Price of Time
Перевод названия: Эдвард Ченселлор: Цена времени
ISBN: 9780241569160
Издательство: Random House - Penguin
Классификация:

История: отдельные темы и события

Экономическая теория и философия

Экономические системы и их структуры

Экономическая история

ISBN-10: 0241569168
Обложка/Формат: HB Royal
Страницы: 368
Вес: 0.75 кг.
Дата издания: 07.07.2022
Язык: English
Размер: 240 x 156 x 40
Читательская аудитория: Tertiary education (us: college)
Подзаголовок: Interest, capitalism and the curse of easy money
Рейтинг:
Поставляется из: Англии
Описание: The first book of the next crisis. *Longlisted for the 2022 Financial Times Business Book of the Year Award**Shortlisted for the 2023 Hayek Book Prize*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.

The Price of Time, Chancellor, Edward