The Cost of Free Money: How Unfettered Capital Threatens Our Economic Future (Hardback)
  • The Cost of Free Money: How Unfettered Capital Threatens Our Economic Future (Hardback)
zoom

The Cost of Free Money: How Unfettered Capital Threatens Our Economic Future (Hardback)

(author)
£20.00
Hardback 320 Pages / Published: 14/07/2020
  • In stock

UK delivery within 5 days

  • This item has been added to your basket
Your local Waterstones may have stock of this item. Please check by using Click & Collect
A penetrating account of how unchecked capital mobility is damaging international cooperation, polarizing the economic landscape, and ultimately reshaping the global order

"An expert on global financial and monetary systems . . . lucidly describes the failings of the international monetary 'non-system' that emerged after the collapse of the Bretton Woods system in the 1970s."-Martin Wolf, Financial Times "Best Books of 2020: Economics"

When it comes to the afflictions of the global economy, almost everyone-and especially Donald Trump-is quick to point the finger of blame at the state of international trade. But what about unconstrained capital flows? Unfettered capital has resulted in a string of financial and economic crises that have left our political systems strained and dialogue corroded. The once perceived benefits of openness have been cast to the wayside and the cracks in the global order can no longer be ignored.

Paola Subacchi argues that international cooperation and interdependence have become crippled. Regional restrictions will soon strengthen and a multipolar order will take shape, leading to a distinctly transformed economic landscape in which China challenges the dominance of the US dollar. Combining history, analysis, and prediction, this book provides penetrating insight into the challenges facing the international economic order.

Publisher: Yale University Press
ISBN: 9780300244045
Number of pages: 320
Dimensions: 235 x 156 mm


MEDIA REVIEWS
"Subacchi is an expert on global financial and monetary systems. In this book, she lucidly describes the failings of the international monetary "non-system" that emerged after the collapse of the Bretton Woods system in the 1970s."-Martin Wolf, Financial Times 'Best Books of 2020: Economics'

"With so much uncertainty surrounding the new lay of the economic land, and the behaviour of those with key roles in shaping it, this book offers some well-presented solutions, formulated with fairer outcomes firmly in mind."-Emma Newlands, Scotland on Sunday



"Just as we are getting used to the existence of 'magic money trees' which have helped finance the massive stimulus packages we have seen during the pandemic...here comes this excellent book to remind us that there is no such thing as free money [and] exposes the perils lying ahead of not getting to grips with the change in the world order."-Vicky Pryce, 'Reading Room' for The Society of Professional Economists

"People interested in global economic policy matters will find this a thought-provoking book." - Arslan Razmi, Journal of Economics



'This highly readable analysis warns of the dangers of unchecked capital flows and weak global cooperation, and persuasively makes the case for the revival of a rules-based international economy. With nationalism on the rise, this is a vital account of the history and likely evolution of the international financial system.'-Niall Kishtainy, author of A Little History of Economics


'This book focuses on three tensions: those between the dominance of the dollar and an increasingly multipolar world economy; between free capital flows and financial stability; and that between the US and China. Subacchi highlights that there are no easy ways of relieving these tensions. She may not leave readers confident about our collective international monetary prospects, but it will certainly provoke thought.'-Barry Eichengreen, author of Hall of Mirrors


'Using her deep knowledge of the international economy and China, Subacchi eloquently and insightfully explains the increasing pressure on the international monetary system. It is to be fervently hoped that after the latest global shock, policymakers will follow Subacchi's advice to reform and reenergize.'-Tamim Bayoumi, author of Unfinished Business

You may also be interested in...

The Storm
Added to basket
£8.99
Paperback
Tower of Basel
Added to basket
£12.99
Paperback
The White Man's Burden
Added to basket
The Age of Turbulence
Added to basket
Bad Samaritans
Added to basket
£9.99
Paperback
For All the Tea in China
Added to basket
The Globalization Paradox
Added to basket
Forces of the Hanseatic League
Added to basket
False Economy
Added to basket
£9.99
Paperback
The Honourable Company
Added to basket
£12.99
Paperback
Making Globalization Work
Added to basket
Stress Test
Added to basket
£10.99
Paperback
Trading with the Enemy
Added to basket

Please sign in to write a review

Your review has been submitted successfully.