The End of Alchemy: Money, Banking and the Future of the Global Economy, by Mervyn King. Norton, 2016 15 min read 10 take-aways Audio & text Whats inside Central banker offers a behind-the-scenes take on the 2008 crisis and tells how to manage the next one. Mervyn King may well have written the most important.

'It is rare to encounter a book on economics quite as intellectually exhilarating. Mervyn King The End of Alchemy Money, Banking, and the Future of the Global Economy W.W. Affordable digital textbook from RedShelf: The End of Alchemy: Money, Banking, and. The End of Alchemy Money, Banking and the Future of the Global Economy Mervyn King. King's book is 'an outstandingly lucid account of postwar economic policy-making and the dilemmas we now face,' says John Plender in the Financial Times. Overall, this is a 'fearlessly honest explanation of the 2007/2008 financial collapse', says Liam Halligan in The Daily Telegraph, even if 'the narrative sometimes gets bogged-down in descriptions of academic debates'. And while King deserves praise for taking the time to explain some key technical terms in the first few pages, his use of economic jargon may also be a bit off-putting for those who have not studied economics. This lends a conversational tone, but it makes it tricky for the reader to keep track of what he is saying. One criticism is that King tends to meander from topic to topic. The End of Alchemy certainly provides plenty of food for thought. These reforms would in effect make a bank run impossible if assets were perfectly matched by liabilities, then any given bank would always be able to return a client's money if necessary, with the central bank operating more like a pawnbroker in times of duress than as the traditional lender of last resort. That is, indeed, the bit of the book that gives it its name: the End of Alchemy is a proposal to move from a lender of last resort model to a pawnbroker.

Mervyn king the end of alchemy