Money: The Unauthorised Biography (2013) - Plot & Excerpts
What it would be like if the Felix Unger character from the play and television show wrote a book. Felix Martin is very high brow. In case you failed to recognize just how well-read the man is he sets out to strenuously prove it here. The book quotes Latin expressions by the score. It covers all the major classical societies (Greek, Roman, etc.) and their philosophies whether or not they have any connection to the topic of money. It discourses on any topic that strikes his fancy because hewing too closely to the topic at hand is something the hoi polloi do. You don't learn much about money or its nature but you come aware a better person or at least you know just how erudite Mr. Martin is. In short, at least it's cheaper than a MFA (Masters of Fine Arts). Ends with a delightfully direct explanation for financial crises: a lack of demand, which turns into a lack of confidence in the value of business and credit. Money is just trusted credit, and pretending it is hard (specie, metals) is an easy to explain fraud, used to buttress the current power and control of those who have money.Explains why QE^n is likely to continue, globally, until demand is adequate to enable near full employment. Technical automation and increasing productivity just add pressure to inflate currency, since the volume of "consumer surplus" increases, without enabling demand from underemployed members of society.The increasing income&asset gaps along with the control of democratic politics by the monied elite, threaten stability. fortunately, reforms will come, and until them monetary policy will force inflation.Can our natural environment and its free services sustain itself until necessary reforms happen?The final chapter, itself even alone, is brilliant.
What do You think about Money: The Unauthorised Biography (2013)?
It was good but very dry. Definitely need a better understanding of the markets to understand.
—bamagramma
Great elucidation of what money is, and isn't. sheds new light on all my economics knowledge.
—thumbalina
