Paper Promises: Debt, Money, and the New World Order

Paper Promises: Debt, Money, and the New World Order

by Philip Coggan
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Paper Promises: Debt, Money, and the New World Order by Philip Coggan

Longlisted for the 2012 Financial Times and Goldman Sachs Business Book of the Year Award

For the past forty years western economies have splurged on debt. Now, as the reality dawns that many debts cannot be repaid, we find ourselves again in crisis. But the oncoming defaults have a time-worn place in our economic history. As with the crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge. Just as Britain set the terms of the international system in the nineteenth century, and America in the twentieth century, a new system will be set by today's creditors in China and the Middle East. In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers and one country against another.

In Paper Promises, Economist columnist Philip Coggan helps us to understand the origins of this mess and how it will affect the new global economy by explaining how our attitudes towards debt have changed throughout history, and how they may be about to change again.

Product Details

ISBN-13: 9781610391276
Publisher: PublicAffairs
Publication date: 01/17/2012
Sold by: Hachette Digital, Inc.
Format: NOOK Book
Pages: 304
Sales rank: 980,425
File size: 669 KB

About the Author

Philip Coggan is the Buttonwood columnist of the Economist. Previously, he worked for the Financial Times for twenty years, most recently as investment editor. Among his books are The Money Machine, a guide to the city of London that is still in print in the UK after twenty-five years, and The Economist Guide to Hedge Funds.

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Paper Promises: Debt, Money, and the New World Order 5 out of 5 based on 0 ratings. 2 reviews.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
I would love to add this to my eBook collection. Any chance this is turning electronic? Great read!