The Price of Time: The Real Story of Interest by Edward Chancellor (English) Pap

Description: The Price of Time by Edward Chancellor Estimated delivery 4-14 business days Format Paperback Condition Brand New Description A history of interest rates and the first book of the next financial crisis, shortlisted for the 2023 Hayek Book PrizeAll economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest- the price that individuals, companies and nations pay to borrow money.In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead. Author Biography Edward Chancellor is the author of Devil Take the Hindmost- A History of Financial Speculation which has been translated into many languages and was a New York Times Book of the Year. After reading history at Cambridge and Oxford, he worked for Lazard Brothers and until 2014 he was a senior member of the asset allocation team at GMO. He is currently a columnist for Reuters Breakingviews and has contributed to the Wall Street Journal, the Financial Times, MoneyWeek and the New York Review of Books. In 2008, he received the George Polk Award for financial reporting for his article "Ponzi Nation" in Institutional Investor. Details ISBN 1802060154 ISBN-13 9781802060157 Title The Price of Time Author Edward Chancellor Format Paperback Year 2023 Pages 432 Publisher Penguin Books Ltd GE_Item_ID:144542145; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. Returns If you wish to return an item, please consult our Returns Policy as below: Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted. Returns must be postmarked within 4 business days of authorisation and must be in resellable condition. Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit. For purchases where a shipping charge was paid, there will be no refund of the original shipping charge. Additional Questions If you have any questions please feel free to Contact Us. Categories Baby Books Electronics Fashion Games Health & Beauty Home, Garden & Pets Movies Music Sports & Outdoors Toys

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End Time: 2024-11-21T04:05:58.000Z

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