Money & Monetary Policy Books

The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means

George Soros

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Customer Reviews:
Total reviews: 59 Average rating: 3.5 of 5

More than worth it just for the philosophy 5 out of 5 stars.
0 of 0 people found this review helpful.

I just loved this book.
This book is a must for people who blindly believe in market prediction, economists and fundamentalists. It argues that it is necessary to take into consideration the point of view of the "observer" who interacts and influences the outcome; thus rendering the prediction obsolete and indeterminate.
Soros says that he has been a successful investor and a FAILED philosopher until this book. Now he believes (and I FULLY AGREE) that he has become a successful philosopher. The funny thing is that he FAILED as an investor because all his predictions in the book turned out to be wrong (at least in the short run). But I guess that drives his point home: the reflexivity makes it impossible to predict markets....

Editorial Review:

In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. “This is the worst financial crisis since the 1930s,” writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

Fixing Global Finance (Forum on Constructive Capitalism)

Martin Wolf

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Total reviews: 2 Average rating: 4.5 of 5

Editorial Review:

The latest book from Financial Times columnist Martin Wolf explains why global imbalances cause financial crises -- including the one ravaging the United States right now -- and outlines the steps for ending this destructive cycle.

Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States is now the "borrower and spender of last resort," makes the case that this is an untenable arrangement, and argues that global economic security depends on the ability of emerging economies to develop robust financial systems based on domestic currencies.

Sharply and clearly argued, Wolf's prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."

Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve

William Fleckenstein, Fred Sheehan

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Total reviews: 39 Average rating: 4.0 of 5

Editorial Review:

No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's �Age of Ignorance� for years to come.

. .

According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled �Mr. Bubble� by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous �Greenspan Put� fueled the perception of a Goldilocks economy-but, as this explosive expos� reveals, the bear has finally caught up with Goldilocks.

. .

Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:

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• The stock market crash of 1987.
• The Savings And Loan crisis.
• The collapse of Long Term Capital Management.
• The tech bubble of 2000.
• The feared Y2K disaster.
• The credit bubble and real estate crisis of 2007.

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Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naivet� concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.

. .

Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.

. . .

The Creature from Jekyll Island: A Second Look at the Federal Reserve

G. Edward Griffin

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Customer Reviews:
Total reviews: 185 Average rating: 4.5 of 5

Highly Recommended Book!! 5 out of 5 stars.
2 of 2 people found this review helpful.

This Book traces the International Bankers attempt to control the nations of the world through a privately owned central bank, manipulating and controlling the money supply creating recessions, depressions and financing wars.our Founding Fathers who wrote the Constitution warned the nation of an institution like a central bank.''Give me control over a nations currency and I care not who writes its laws''wrote Rothschild! those that control the federal Reserve control the world.



Fiat money created out of nothing(unbacked by gold) issued by a private bank the federal reserve and charging interest on it,what a scam!!this is the cause of our current global economic crises!!!

Editorial Review:

Where does money come from? Where does it go? Who makes it? The money magicians' secrets are unveiled. We get a close look at their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand illusion called money. A dry and boring subject? Just wait! You'll be hooked in five minutes. Reads like a detective story — which it really is. But it's all true. This book is about the most blatant scam of all history. It's all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Creature from Jekyll Island will change the way you view the world, politics, and money. Your world view will definitely change. You'll never trust a politician again — or a banker.

Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free

Ellen Hodgson Brown

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Customer Reviews:
Total reviews: 59 Average rating: 5.0 of 5

THE best financial book on the financial situation in the US today 5 out of 5 stars.
2 of 3 people found this review helpful.

I have read many books concerning the state of the US economy and this is the best. She expounds on positions touched on by Ron Paul, Bill Bonner and Edward Griffin so that you have a much better understanding of what they mean. Some books like this can be a chore to get through. I could barely put this down. You need to read this.

Editorial Review:

EXPLODING THE MYTHS ABOUT MONEY Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by a private money cartel. Except for coins, all of our money is now created as loans advanced by private banking institutions -- including the private Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices -- and robbing you of the value of your money. Web of Debt unravels the deception and presents a crystal clear picture of the financial abyss towards which we are heading. Then it explores a workable alternative, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. If you care about financial security, your own or the nation's, you should read this book.

A Monetary History of the United States, 1867-1960

Milton Friedman, Anna Jacobson Schwartz

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Total reviews: 10 Average rating: 3.5 of 5

Editorial Review:

Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues."

Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, The Great Contraction--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: "If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger."

Milton Friedman won the Nobel Prize in Economics in 2000 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).

The Dollar Crisis: Causes, Consequences, Cures , Revised and Updated

Richard Duncan

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Customer Reviews:
Total reviews: 68 Average rating: 4.0 of 5

Editorial Review:

In this updated, second edition of the highly acclaimed international best seller, The Dollar Crisis: Causes, Consequences, Cures, Richard Duncan describes the flaws in the international monetary system that have destabilized the global economy and that may soon culminate in a deflation-induced worldwide economic slump.

The Dollar Crisis is divided into five parts:

Part One describes how the US trade deficits, which now exceed US$1 million a minute, have destabilized the global economy by creating a worldwide credit bubble.

Part Two explains why these giant deficits cannot persist and why a US recession and a collapse in the value of the Dollar are unavoidable.

Part Three analyzes the extraordinarily harmful impact that the US recession and the collapse of the Dollar will have on the rest of the world.

Part Four offers original recommendations that, if implemented, would help mitigate the damage of the coming worldwide downturn and put in place the foundations for balanced and sustainable economic growth in the decades ahead.

Part Five, which has been newly added to the second edition, describes the extraordinary evolution of this crisis since the first edition was completed in September 2002. It also considers how the Dollar Crisis is likely to unfold over the years immediately ahead, the likely policy response to the crisis, and why that response cannot succeed.

The Dollar Standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st Century.

Financial Management: Theory & Practice (with Thomson ONE - Business School Edition 1-Year Printed Access Card)

Eugene F. Brigham, Michael C. Ehrhardt

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Customer Reviews:
Total reviews: 13 Average rating: 4.5 of 5

Amazing book and Fantastic Shipping, Amazon! 5 out of 5 stars.
3 of 3 people found this review helpful.

This book is simply amazing, very easy to follow and learn. It explains basic concepts, and has some useful material - in the book as well as online - that will help you. I frankly didn't even need the study guide; I thought the book by itself was great for me. The authors have taken a lot of trouble with detailing and giving examples, for someone new to finance to pick up on. There are chapters on financial statements, time value of money, bonds, risk, stocks valuation, financial forecasting, capital costs & budgeting, cash flow estimation, financial planning, corporate valuation, IPO's, working capital management, and a whole lot more (don't let the size of the book scare you!). If there is something you didn't understand, you can always use the one-year access card (one per book) to their online resources, and download the excel spreadsheets for each chapter. There are also 4 web chapters for more information. Online, they have explained how they work out questions in the book. The examples are very realistic, outlining actual companies and incidents that have occurred in the US. This edition (12th) has more end-of-chapter problems than the previous editions.

I have experience with accounting, but haven't really done much since 6 years with it. So this book really helped me get back my basics. The Finance class that I took in the summer was a real breeze after this (many thanks to Professor Haddad too, ofcourse). And everyone knows how fast stuff is completed in the Summer! I definitely recommend buying this book. For people with prior experience in Finance, you could even buy something more advanced to go along with it.

And thank you Amazon, for the immediate shipment. I had a test the very next week of starting. I hadn't bought the text book, till it was prescribed in the first class. So I opted for the one-day shipping. The book was well wrapped and in excellent condition. It was totally worth it.

Overall, you guys deserve all 5 stars!

Editorial Review:

Written for and praised by students just like you, FINANCIAL MANAGEMENT: THEORY AND PRACTICE gives you relevant, practical, and easy-to-understand information covering all of the financial management topics you need to succeed in this course. Underlying theory is presented first in an accessible style and then followed by the practical application.

THEORY OF MONEY AND CREDIT, THE (Lib Works Ludwig Von Mises PB)

LUDWIG VON MISES, H.E. Batson

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Total reviews: 8 Average rating: 5.0 of 5

The Genesis of Modern Austrian Economics 5 out of 5 stars.
10 of 10 people found this review helpful.

The Theory of Money and Credit is the foundation of modern Austrian Economics. The central contribution of this book is its application of marginal utility theory to money. Mises takes a micro-analytic approach to money that differs from the Hume-Fischer-Friedman Quantity Theory significantly. Of course there is some truth in the Quantity Theory. The Quantity Theory also teaches some lessons against inflation.

Mises set the groundwork for Austrian Business Cycle theory, as later developed by Hayek and Garrison. Both the Quantity Theory and the Mises-Hayek theory of trade cycles point to the same root cause: inflation. However, the Mises-Hayek theory explains trade cycles in terms of intertemporal dis-coordination. Hayek owes his Nobel Prize the groundbreaking work of Mises.

The Theory of Money and Credit also served as the basis for the calculation critique of socialism. Mises began to see the significance of monetary calculation in this book. The Austrian theories of the trade cycle and monetary calculation are the two main lines of modern Austrian research. These were the two critical debates of the Interwar Years. Also, Mises formulated his `Regression Theorem' in this book. Without this book, the modern Austrian paradigm would differ beyond recognition. Anyone who wants to learn Austrian economics should read this book.

Editorial Review:

In 1912, when Mises, at age thirty-one, wrote this landmark book, no monetary theory could be described as both securely founded on economic reality and properly incorporated into an analysis of the entire economic system. "The Theory of Money and Credit" opened new vistas. It integrated monetary theory into the main body of economic analysis for the first time, providing fresh new insights into the nature of money and its role in the economy. As the well-known "Austrian" economist Rothbard writes in his new foreword: "This book performed the mighty feat of integrating monetary with micro theory, of building monetary theory upon the individualistic foundations of general economic analysis."

The Great Contraction, 1929-1933: (New Edition) (Princeton Classic Editions)

Milton Friedman

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Total reviews: 2 Average rating: 4.5 of 5

Editorial Review:

Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. The chapter entitled "The Great Contraction, 1929-33" addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide.

This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.