the only game in town central banks instability and avoiding the next collapse

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The Only Game In Town

Author : Mohamed A. El-Erian
ISBN : 9780812997637
Genre : Business & Economics
File Size : 30. 31 MB
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NEW YORK TIMES BESTSELLER • Dr. Mohamed A. El-Erian, one of the world’s most influential economic thinkers and the author of When Markets Collide, has written a 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. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. 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. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. 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. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. Praise for The Only Game in Town “The one economic book you must read now . . . If you want to understand this bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian. . . . An excellent primer [and] a guide on what to expect as the world struggles to cope with slower, less equal growth.”—Time “How come the global economy is now run largely by unelected central banks? In this highly intelligent analysis, the author, a respected investor and CEO, explains how elected governments are failing in their basic job to take care of the economy and why this might lead to a massive unmanageable crisis.”—Fareed Zakaria, CNN (book of the week) “El-Erian expertly offers a balanced view, commending the central banks for their necessarily aggressive policy views while noting, for example, the failure of the Fed to recognize the pre-crisis housing bubble. . . . A grand tour of the challenges we face, along with ideal solutions and more likely outcomes.”—Steven Rattner, The New York Times Book Review “What better moment could there be for a book subtitled ‘Central Banks, Instability, and Avoiding the Next Collapse’? And who better to write it than Mohamed El-Erian . . . ?”—Financial Times “A warning on the Federal Reserve’s limits . . . For those who consider Washington politicians incapable of acting effectively, [El-Erian’s] diagnosis is chilling.”—The New York Times From the Hardcover edition.

The Only Game In Town Central Banks Instability And Avoiding The Next Collapse

Author : Mohamed A. El-Erian
ISBN : 9780300222531
Genre :
File Size : 52. 32 MB
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The Age Of Stagnation

Author : Satyajit Das
ISBN : 9789385724619
Genre : Business & Economics
File Size : 74. 73 MB
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Essential reading for anyone interested in the future of the global economy and their own prospect, The Age of Stagnation incisively explains the problems confronting us, how we’re making those problems worse, and what the real solutions are. For ordinary individuals, the goal of a steady job, a home of one’s own, a comfortable retirement and a good life for our children is receding. In this brilliantly clear-eyed account, Satyajit Das links past, present and future to show that it’s not just unrealistic expectations, but the poor performance of those governing us that are to blame. The strategies and policies deployed to promote economic growth after the Great Recession have failed, not least because such growth cannot continue indefinitely. The solution – structural change – is electorally unpopular and therefore ignored. The Age of Stagnation explains why the ultimate adjustment, whether stretched out over time or in the form of another sudden crash, will be life-changing. An internationally respected commentator on financial markets, credited with predicting the Global Financial crisis and featured in the 2010 Oscar-winning documentary Inside Job, Satyajit Das is our finest writer about money and the global economy. Informed, impassioned, lively and witty, The Age of Stagnation is the only book you need to understand what the future will bring.

Summary Of The Only Game In Town

Author : Instaread Summaries
ISBN : 1945272465
Genre : Business & Economics
File Size : 43. 67 MB
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Summary of The Only Game in Town by Mohamed A. El Erian | Includes AnalysisPreview:Mohamed A. El-Erian's The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse is a discussion of the role of central banks in confronting the current financial and economic dangers facing the world. Following the financial collapse of 2008, central banks pursued aggressive and innovative policies in an effort to stabilize the world economy. Policy makers have failed to enact the measures necessary to ensure growth, and so central banks have had to continue to innovate and stabilize. In the long term, however, central banks cannot sustain growth on their own. If governments do not take steps to create growth and regulate financial markets, there will be another financial crisis...PLEASE NOTE: This is summary and analysis of the book and NOT the original book.Inside this Instaread Summary of The Only Game in Town:Overview of the bookImportant PeopleKey TakeawaysAnalysis of Key TakeawaysAbout the AuthorWith Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

The Only Game In Town

Author : Fay Vincent
ISBN : 0743288645
Genre : Sports & Recreation
File Size : 69. 87 MB
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In this delightful book that every baseball fan will cherish, ten outstanding ballplayers remember the heyday of the game in the 1930s and 1940s. It was the era of Gehrig and DiMaggio; of Foxx, Greenberg, and Williams; of Grove and Feller. Elden Auker, Tommy Henrich, Dom DiMaggio, Johnny Pesky, and Bob Feller recall some great rivalries: Auker pitched to Ruth and Gehrig, then faced Dizzy Dean in an unforgettable World Series; Henrich was a clutch player for the Yankees who alertly turned a passed-ball third strike into a World Series victory; Dom DiMaggio was a superb center fielder who batted .298 lifetime and nearly ended his brother Joe's hitting streak; Pesky, a Red Sox mainstay, was blamed for Enos Slaughter's dash home that was the most memorable play of the 1946 Red Sox-Cardinals World Series; and Feller was a teenager when he faced -- among others -- Foxx, Greenberg, and Joe DiMaggio. But this was also the era of great Negro Leagues stars who never had the opportunity to play in the major leagues. Buck O'Neil remembers the outstanding players of his day who never got their chance or whose turn came too late -- Oscar Charleston, Cool Papa Bell, Josh Gibson, and Satchel Paige among them. Two great events happened in the 1940s, and one of them would change the game forever. World War II took some of these great players off the diamond and put them into a different kind of uniform. Warren Spahn pitched his first game in 1942 and didn't pitch again until the war ended, getting his first victory in 1946 (nonetheless he won more games than any other left-hander in history). As he recalls here, he served his country memorably in the war. Then in 1947 Jackie Robinson broke the color barrier, followed only a few months later by Larry Doby, the first African-American in the American League, who vividly describes what it felt like to be the only black ballplayer in the clubhouse -- and the league. The game began to change after integration, and home run king Ralph Kiner remembers how some clubs were quick to sign African-American players and thrive. Meanwhile, some Negro Leagues stars, such as Monte Irvin, itched for the opportunity to face the major leaguers and prove that, like Robinson and Doby, they could compete with the best. All of these ballplayers recall their favorite memories: the games that mattered most, the players they all admired, the childhood experiences that shaped their lives, and the deep affection for the game that has always remained with them. Illustrated throughout, The Only Game in Town is a fascinating trip through two decades when baseball changed profoundly. Like The Glory of Their Times, it is a book that will find a permanent place on every fan's bookshelf.

The End Of Alchemy

Author : Mervyn King
ISBN : 1408706105
Genre :
File Size : 25. 67 MB
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The past twenty years saw unprecedented growth and stability followed by the worst financial crisis the industrialised world has ever witnessed. In the space of little more than a year what had been seen as the age of wisdom was viewed as the age of foolishness. Almost overnight, belief turned into incredulity. Most accounts of the recent crisis focus on the symptoms and not the underlying causes of what went wrong. But those events, vivid though they remain in our memories, comprised only the latest in a long series of financial crises since our present system of commerce became the cornerstone of modern capitalism. Alchemy explains why, ultimately, this was and remains a crisis not of banking - even if we need to reform the banking system - nor of policy-making - even if mistakes were made - but of ideas. In this refreshing and vitally important book, former governor of the Bank of England Mervyn King - an actor in this drama - proposes revolutionary new concepts to answer the central question: are money and banking a form of Alchemy or are they the Achilles heel of a modern capitalist economy?

The Little Book Of Economics

Author : Greg Ip
ISBN : 9780470929407
Genre : Business & Economics
File Size : 79. 34 MB
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One positive side-effect of the recent financial market meltdown that toppled giant, century-old institutions and cost millions their jobs is that it created a strong desire among many Americans to better understand how the U.S. economy functions. In The Little Book of Economics, Greg, Ip, one of the country’s most recognized and respected economics journalists, walks readers through how the economy really works. Written for the inquisitive layman who doesn’t want to plow through academic jargon and Greek letters or pore over charts and tables, The Little Book of Economics offers indispensible insight into how the American economy works – or, doesn’t. With engaging and accessible prose, the book Provides a comprehensive understanding of each aspect of our economy from inflation and unemployment to international trade and finance Serves as an insider’s guide to the people and institutions that control America’s economy such as the Federal Reserve and the federal budget Explains the roots of America’s current economic crisis and the risks the country faces in its aftermath, such as stratospheric government debt, while offering advice on overcoming these threats Walks readers through the basic concepts and terminology they need to understand economic news Punctures myths and political spin from both the left and the right with candid and often surprising insight A must read for anyone who wants a better grasp of the economy without taking a course in economics , The Little Book of Economics is a unique and engaging look at how the economy works in all its wonderful and treacherous ways.

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