The book The End of Alchemy (2016) is about the thrilling exploration of how the financial system can be fundamentally transformed to prevent future crises. Mervyn King presents a compelling argument for the need to break the shackles of traditional economic thinking and embrace a new approach based on the principles of alchemy.
This book is a perfect read for individuals, that are interested in understanding the fundamental flaws of the banking system and how it can be reformed to prevent future financial crises. It is written for both experts and non-experts, who are looking for a comprehensive and insightful analysis of the financial system.
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The Alchemy of Modern Banking System
Central Banks: History and Importance
Rethinking Financial Crisis Causes
Disequilibrium and Radical Uncertainty
Trust and Interconnectedness in Banking
The Prisoner's Dilemma in Economics
The Audacity of Pessimism: Predicting Financial Crises
The Central Banker's Paradox
Reforming the Current Financial System
The Future of Money and Central Banking
In "The End of Alchemy," Mervyn King highlights the flaws of the current financial system and proposes a new approach to banking. He argues that the current system is inherently unstable and puts too much power in the hands of a few bankers. Instead, he suggests a system in which banks are required to hold assets equal to their liabilities, effectively eliminating the need for government bailouts.
Mervyn King is a British economist and former Governor of the Bank of England. He held the position from 2003 to 2013, during which he oversaw the Bank's response to the financial crisis of 2008. King has also been a professor of economics at both the London School of Economics and Harvard University. He is known for his expertise in monetary policy and has been a vocal advocate for greater transparency in central banking. King was knighted in 2011 for his services to banking.
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