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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
Publisher: W. W. Norton & Company
Total Pages: 214
Release: 2016-03-21
Genre: Business & Economics
ISBN: 0393247031

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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.


Unlimited Wealth

Unlimited Wealth
Author: Paul Zane Pilzer
Publisher: Crown
Total Pages: 248
Release: 1990
Genre: Business & Economics
ISBN:

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Modern technology is transforming our most basic ideas about the creation of wealth. Unlimited Wealth reveals how a new way of economic thinking is essential for success in today's world. Thanks to the alchemy of accelerating technological development, unlimited wealth can be achieved in new and creative ways--and those who understand this will best benefit from it. New from the author of Other People's Money.


Alchemy and Economics

Alchemy and Economics
Author: Herbert Stanley Redgrove
Publisher:
Total Pages: 16
Release: 1929
Genre: Alchemy
ISBN:

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The Business of Alchemy

The Business of Alchemy
Author: Pamela H. Smith
Publisher: Princeton University Press
Total Pages: 337
Release: 2016-09-20
Genre: History
ISBN: 1400883571

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In The Business of Alchemy, Pamela Smith explores the relationships among alchemy, the court, and commerce in order to illuminate the cultural history of the Holy Roman Empire in the sixteenth and seventeenth centuries. In showing how an overriding concern with religious salvation was transformed into a concentration on material increase and economic policies, Smith depicts the rise of modern science and early capitalism. In pursuing this narrative, she focuses on that ideal prey of the cultural historian, an intellectual of the second rank whose career and ideas typify those of a generation. Smith follows the career of Johann Joachim Becher (1635-1682) from university to court, his projects from New World colonies to an old-world Pansophic Panopticon, and his ideas from alchemy to economics. Teasing out the many meanings of alchemy for Becher and his contemporaries, she argues that it provided Becher with not only a direct key to power over nature but also a language by which he could convince his princely patrons that their power too must rest on liquid wealth. Agrarian society regarded merchants with suspicion as the nonproductive exploiters of others' labor; however, territorial princes turned to commerce for revenue as the cost of maintaining the state increased. Placing Becher’s career in its social and intellectual context, Smith shows how he attempted to help his patrons assimilate commercial values into noble court culture and to understand the production of surplus capital as natural and legitimate. With emphasis on the practices of natural philosophy and extensive use of archival materials, Smith brings alive the moment of cultural transformation in which science and the modern state emerged.


The Alchemy of Finance

The Alchemy of Finance
Author: George Soros
Publisher: John Wiley & Sons
Total Pages: 420
Release: 2015-06-15
Genre: Business & Economics
ISBN: 9780471445494

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George Soros ist unbestritten einer der mächtigsten und gewinnträchtigsten Investoren weltweit; seine Investmentprinzipien sind immer populärer geworden. "The Alchemy of Finance" ist eine Sonderauflage der 1987 erschienenen Originalausgabe des Buches. Sie wurde umfassend aktualisiert und mit erweitertem Vorwort und Einleitung versehen, die Soros zeitlose Investmentstrategien in einen modernen Kontext stellen. Sie enthält ein neues Kapitel, in dem Soros seine Erfolgsgeheimnisse lüftet sowie ein Vorwort des ehemaligen US-Notenbankchefs Paul Volcker. Soros erläutert detailliert seine innovativen Investmentstrategien, die ihm über Jahrzehnte hinweg gute Dienste geleistet haben und gibt eine theoretische und praktische Einschätzung aktueller Finanztrends. "The Alchemy of Finance" erscheint in neuem Design als Band der Reihe 'Wiley's Investment Classics Series'.


Princes of the Yen

Princes of the Yen
Author: Richard Werner
Publisher: Routledge
Total Pages: 384
Release: 2015-03-04
Genre: Education
ISBN: 131746219X

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This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.


Alchemy

Alchemy
Author: Rory Sutherland
Publisher: Random House
Total Pages: 301
Release: 2019-05-07
Genre: Psychology
ISBN: 0753551373

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‘A breakthrough book. Wonderfully applicable to everything in life, and funny as hell.’ Nassim Nicholas Taleb Why is Red Bull so popular – even though everyone hates the taste? Why do countdown boards on platforms take away the pain of train delays? And why do we prefer stripy toothpaste? Discover the alchemy behind original thinking, as TED Talk superstar and Ogilvy advertising legend Rory Sutherland reveals why abandoning logic and casting aside rationality is the best way to solve any problem. In his first book he blends cutting-edge behavioural science, jaw-dropping stories and a touch of branding magic on his mission to turn us all into idea alchemists. He shows how economists, businesses and governments have got it all wrong: we are not rational creatures who make logical decisions based on evidence. Instead, the big problems we face every day, whether as an individual or in society, could very well be solved by thinking less logically. To be brilliant, you have to be irrational.


The Strange Alchemy of Life and Law

The Strange Alchemy of Life and Law
Author: Albie Sachs
Publisher: Oxford University Press
Total Pages: 323
Release: 2011-03-10
Genre: Biography & Autobiography
ISBN: 0199605777

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Albie Sachs gives an intimate account of his extraordinary life and work as a judge in South Africa. Mixing autobiography with reflections on his major cases and the role of law in achieving social justice, Sachs offers a rare glimpse into the workings of the judicial mind and a unique perspective on modern South African history.


Uneasy Alchemy

Uneasy Alchemy
Author: Barbara L. Allen
Publisher: MIT Press
Total Pages: 234
Release: 2003
Genre: Environmental justice
ISBN: 9780262511346

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How coalitions of citizens and experts have been effective in promoting environmental justice in Louisiana's Chemical Corridor.


Promethean Ambitions

Promethean Ambitions
Author: William R. Newman
Publisher: University of Chicago Press
Total Pages: 358
Release: 2005-10-01
Genre: Science
ISBN: 0226577139

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In an age when the nature of reality is complicated daily by advances in bioengineering, cloning, and artificial intelligence, it is easy to forget that the ever-evolving boundary between nature and technology has long been a source of ethical and scientific concern: modern anxieties about the possibility of artificial life and the dangers of tinkering with nature more generally were shared by opponents of alchemy long before genetic science delivered us a cloned sheep named Dolly. In Promethean Ambitions, William R. Newman ambitiously uses alchemy to investigate the thinning boundary between the natural and the artificial. Focusing primarily on the period between 1200 and 1700, Newman examines the labors of pioneering alchemists and the impassioned—and often negative—responses to their efforts. By the thirteenth century, Newman argues, alchemy had become a benchmark for determining the abilities of both men and demons, representing the epitome of creative power in the natural world. Newman frames the art-nature debate by contrasting the supposed transmutational power of alchemy with the merely representational abilities of the pictorial and plastic arts—a dispute which found artists such as Leonardo da Vinci and Bernard Palissy attacking alchemy as an irreligious fraud. The later assertion by the Paracelsian school that one could make an artificial human being—the homunculus—led to further disparagement of alchemy, but as Newman shows, the immense power over nature promised by the field contributed directly to the technological apologetics of Francis Bacon and his followers. By the mid-seventeenth century, the famous "father of modern chemistry," Robert Boyle, was employing the arguments of medieval alchemists to support the identity of naturally occurring substances with those manufactured by "chymical" means. In using history to highlight the art-nature debate, Newman here shows that alchemy was not an unformed and capricious precursor to chemistry; it was an art founded on coherent philosophical and empirical principles, with vocal supporters and even louder critics, that attracted individuals of first-rate intellect. The historical relationship that Newman charts between human creation and nature has innumerable implications today, and he ably links contemporary issues to alchemical debates on the natural versus the artificial.