Money Theory

Like all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us? To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how Homo economicus predicts the economic future, and how it can predict it better.

The Great Recession, institutional dysfunction, a growing divide between urban and rural prospects, and failed efforts to effectively address immigration have paved the way for a populist backlash that disrupts the postwar bargain between political elites and citizens. Whether today's populism represents a corrective to unfair and obsolete policies or a threat to liberal democracy remains up for debate. To respond to today's crisis, good leaders must strive for inclusive economic growth while addressing social and cultural issues, including demographic anxiety, with frank attention.

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Pasta, guita, plata, parné, duros. Da igual cómo lo llamemos, pero lo cierto es que el dinero importa ahora más que nunca. En El triunfo del dinero Niall Ferguson demuestra que la historia de las finanzas es el trasfondo de toda la Historia. ¿Cuándo pasó el dinero de metal a papel? ¿Por qué los tipos de interés suben y bajan como un yoyó? ¿Por qué la gente nunca aprende que las burbujas bursátiles siempre acaban estallando? ¿Por qué los seguros ya no son la mejor manera de protegerse contra el riesgo?

ChatGPT Mastery: 12 Books in 1 is a comprehensive guide that encapsulates the breadth and depth of using ChatGPT across a range of professional contexts. This book empowers you with the knowledge to unlock the capabilities of ChatGPT, providing an unmatched competitive edge in your field.

Thorstein Bunde Veblen (1857-1929) was an economist, sociologist, and critic of capitalism. In The Theory of the Leisure Class (1899), Veblen coined the concepts of “conspicuous consumption” and “conspicuous leisure”. His emphasis on conspicuous consumption greatly influenced economists who engaged in critiques of capitalism and technological determinism. In The Theory of Business Enterprise (1904) Veblen looks at the growing corporate domination of culture and the economy, arguing that business interests do not coincide with that of the community.

As one of the first titles in Atlantic Monthly Press' "Books That Changed the World" series, America's most provocative satirist, P.J. O'Rourke, reads from Adam Smith's revolutionary The Wealth of Nations - so you don't have to. Recognized almost instantly on its publication in 1776 as the fundamental work of economics, The Wealth of Nations was also recognized as really long: the original edition totaled over 900 pages in two volumes.

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Keynes's preeminent biographer, Robert Skidelsky, brilliantly synthesizes from Keynes' career and life the aspects of his thinking that apply most directly to the world we currently live in. In so doing, Skidelsky shows that Keynes's mixture of pragmatism and realism, which distinguished his thinking from the neo-classical or Chicago school of economics that has been the dominant influence since the Thatcher-Reagan era and which made possible the raw market capitalism that created the current global financial crisis, is more pertinent and applicable than ever.

Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers - they pay too much and suffer the "winner's curse"; why gamblers bet on long shots at the end of a losing day; why shoppers will save on one appliance only to pass up the identical savings on another; and more.

Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalisation and technological disruption, slowing growth and accelerating climate change - these are sources of great anxiety across the world. The resources to address these challenges are there - what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us.

It has long been recognized that most standard of living increases are associated with advances in technology, not the accumulation of capital. Yet it has also become clear that what truly separates developed from less developed countries is not just a gap in resources or output but a gap in knowledge. In fact the pace at which developing countries grow is largely determined by the pace at which they close that gap. Therefore, how countries learn and become more productive is key to understanding how they grow and develop, especially over the long term.

Frederick Kaufman tackles the complex history of money, beginning with the earliest myths and wrapping up with Wall Street’s byzantine present-day doings. Along the way, he exposes a set of allegorical plots, stock characters, and stereotypical metaphors that have long been linked with money and commercial culture, from Melanesian trading rituals to the dogma of Medieval churchmen faced with global commerce, the rationales of Mercantilism and colonial expansion, and the U.S. dollar’s 1971 unpinning from gold.

Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. Economics 101 cuts out the boring explanations and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.

We have entered an age of disruption. Financial collapse, climate change, resource depletion, and a growing gap between rich and poor are but a few of the signs. Otto Scharmer and Katrin Kaufer ask, why do we collectively create results nobody wants? Meeting the challenges of this century requires updating our economic logic and operating system from an obsolete “ego-system” focused entirely on the well-being of oneself to an eco-system awareness that emphasizes the well-being of the whole.

In a sweeping narrative, the author of the mega-bestseller A Beautiful Mind takes us on a journey through modern history with the men and women who changed the lives of every single person on the planet. It’s the epic story of the making of modern economics, and of how it rescued mankind from squalor and deprivation by placing its material fate in its own hands rather than in Fate. Nasar’s account begins with Charles Dickens and Henry Mayhew observing and publishing the condition of the poor majority in mid nineteenth-century London, the richest and most glittering place in the world.

Games are everywhere: Drivers maneuvering in heavy traffic are playing a driving game. Bargain hunters bidding on eBay are playing an auctioning game. The supermarket's price for corn flakes is decided by playing an economic game. This Very Short Introduction offers a succinct tour of the fascinating world of game theory, a groundbreaking field that analyzes how to play games in a rational way.

Whether we realize it or not, we all take risks large and small every day. Even the most cautious among us cannot opt out - the question is always which risks to take, not whether to take them at all. What most of us don't know is how to measure those risks and maximize the chances of getting what we want out of life. In An Economist Walks into a Brothel, Schrager equips listeners with five principles for dealing with risk, principles used by some of the world's most interesting risk takers.

Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today.

Many books have been written about Doyne Farmer and his pioneering work in chaos and complexity theory. Making Sense of Chaos is the first in his own words, presenting a manifesto for doing economics better. In a tale of science and ideas, Farmer fuses his profound knowledge with stories from his life to explain how to harness a scientific revolution to address the economic conundrums facing society.