The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse
| Author | : | |
| Rating | : | 4.36 (975 Votes) |
| Asin | : | 081299762X |
| Format Type | : | paperback |
| Number of Pages | : | 320 Pages |
| Publish Date | : | 2017-04-09 |
| Language | : | English |
DESCRIPTION:
NEW YORK TIMES BESTSELLER • Dr. El-Erian, one of the world’s most influential economic thinkers and the author of When Markets Collide, has writtena roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis.Our current economic path is coming to an end. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strat
First, he has presented the first really comprehensive assessment of the multiple challenges to sustainable and inclusive growth facing a wide range of countries and the global economy. The Only Game in Town is an excellent primer. It’s a terrific book.”—Jack Welch “The Only Game in Town may well be the only book you need to read on how the global financial system works, the serious trouble we may be in, and what to do about it. Posen, president of the Peterson Institute for International Economics “Illuminating El-Erian charts the changing role of central banks in national economies and the global economy at large. Now El-Erian worries it could fall off a cliff. It’s also a guide on what to expect as the world strug
El-Erian was on Foreign Policy’s list of Top 100 Global Thinkers for four consecutive years, and named by that journal as one of the 500 most powerful people on the planet. . He is a contributing editor at the Financial Times and a Bloomberg columnist. El-Erian earned his master’s degree and doctorate at Oxford University, having obtained his undergraduate degree at the University of Cambridge, where he holds an honorary fellowship at Queens’ College. Earlier in
As Analysis - Desperately Annoying Central banks are forever fighting today’s war with yesterday’s weapons. Every recession is different, and central banks have to worry and flail their way back to a smoother ride, because this time is different. We’ve seen money supply tools come and go, interest rate tools lose their impact and of course, regulation all but disappear. The current tool is QE, necessary because so much of the money supply is beyond the control of the Fed. It will probably prove outmoded next time.The meat of the book is ten short chapters summar. Dr. Martin F. Sturman said Title is misleading for all but the experts.. Probably fine book, but not for the uniniatiated. Requires a considerable knowledge of banking and finance to understand. The title therefore seems deliberately misleading for the average unsophisticated reader of economics. Misbranded in my opinion.Martin F. Sturman, MD, FACP. W. Cogdill said Good insights from an observer with some inside views of the "Good insights from an observer with some inside views of the 2008 crisis and beyond" according to W. Cogdill. Good book with detailed explanation on central banking, it's role in the global crisis of 2008, what they did to mitigate the circumstances (and alternate strategies considered), what central banking is facing now and a prognosis and glimpse of our global monetary future. A little 'self-serving' ('I knew what was going on and they didn't'), but a good read.. 008 crisis and beyond. Good book with detailed explanation on central banking, it's role in the global crisis of "Good insights from an observer with some inside views of the 2008 crisis and beyond" according to W. Cogdill. Good book with detailed explanation on central banking, it's role in the global crisis of 2008, what they did to mitigate the circumstances (and alternate strategies considered), what central banking is facing now and a prognosis and glimpse of our global monetary future. A little 'self-serving' ('I knew what was going on and they didn't'), but a good read.. 008, what they did to mitigate the circumstances (and alternate strategies considered), what central banking is facing now and a prognosis and glimpse of our global monetary future. A little 'self-serving' ('I knew what was going on and they didn't'), but a good read.