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Title details for Money in the Twenty-First Century by Richard Holden - Available

Money in the Twenty-First Century

Cheap, Mobile, and Digital

by Richard Holden
Jonathan Todd Ross
Audiobook
80 of 80 copies available
Borrow Listen to a sample Listen to a sample
80 of 80 copies available
How three modern forces have redefined what "money" means, who controls it, and what the future of finance looks like
In Money in the Twenty-First Century, economist Richard Holden examines the virtues and risks of low interest rates, mobile money, and cryptocurrencies and explains how these three elemental forces will continue to play out—in our wallets, on the blockchain, and throughout major economies—in the decades to come.
Holden weaves in the stories of three people who have exerted massive influence over the future of modern money: US Treasury Secretary Janet Yellen, Ethereum cofounder Vitalik Buterin, and Raghuram Rajan, chief economist at the International Monetary Fund. Moving from micro to macro, Holden investigates the infrastructure that permits digital transactions, the currencies that underpin them, the race for control of those currencies, shifts in policy and the international monetary system, and the impact on the politics of money in the digital age. This book debates whether governments can keep these tectonic powers under control.
"Holden has an uncanny knack for writing about complex topics in a lucid, understandable way. He uncovers the reasons behind the recent spate of banking crises and explains where banking is likely to be headed in the era of digitalization. An edifying read for lay and expert alike."—Bengt Holmström, Massachusetts Institute of Technology, 2016 Nobel Laureate in Economics

  • Creators

  • Publisher

  • Release date

    January 30, 2024

  • Formats

    • OverDrive Listen audiobook

      • ISBN: 9798890593504
      • File size: 179148 KB
      • Duration: 06:13:13

  • Languages

    • English

  • Reviews

    • Publisher's Weekly

      November 6, 2023
      The future is in cryptocurrency, and America should lead by developing one, according to this lucid and comprehensive guide to digital currency and central banking. Economist Holden (From Free to Fair Markets) fears that if America cedes leadership in establishing a global digital currency to China or private interests, the U.S. dollar will lose its hegemony as the world’s reserve currency. Among other recent developments, Holden notes that Mark Zuckerberg has proposed that a corporate consortium led by Facebook develop the private digital currencies Libra and Diem, that the European Union plans to have a digital currency by 2025, and that U.S. treasury secretary Janet Yellen, who declined to support Zuckerberg’s proposal, began outlining plans for a U.S. digital currency (Govcoin) in 2022, though whether it will be adopted as the international standard remains to be seen. As background, Holden provides an excellent overview of the current global monetary system, including mobile money and banking, cryptocurrency, and how central banks control the supply of money. Technical concepts are explained with clarity and detail, though some readers will remain skeptical of Holden’s contention that a transition to mobile, digital currency will be better for the poor and unbanked. Still, this is a forceful and well-articulated vision of the future of money.

Formats

  • OverDrive Listen audiobook

subjects

Languages

  • English

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