The collection of lectures and publications from the Schumacher Center for a New Economics represents some of the foremost voices on a new economics.What would be necessary to bring about a wide-scale monetary reform? What would an entire money and banking system look like which would change, in fact revitalize, an entire economic and social system? These were the questions that Ralph Borsodi set out to answer in this series of essays on money and banking. In the early 1970s, Schum...

Ralph Borsodi was among the first Americans to experiment in leaving the bustling city for a more relaxed, rural life – this book chronicles his progress, and includes many practical pointers.Like many urban workers, Ralph Borsodi found the non-stop pace of work and the stressful, competitive atmosphere to be damaging to his health and well-being. A new life away from New York City, one where he and his family could enjoy a closeness to nature, better food, and develop practical ski...

The Nobel Prize–winning economist explains how value is created, and how that affects everything from your paycheck to global markets.In this "lively, enlightening introduction to monetary history" ( Kirkus Reviews), one of the leading figures of the Chicago school of economics that rejected the theories of John Maynard Keynes offers a journey through history to illustrate the importance of understanding monetary economics, and how monetary theory can igni...

We've been assured that the recession is over, but the country and the economy continue to feel the effects of the 2008 financial crisis, and people are still searching for answers about what caused it, what it has wrought, and how we can recover. This selection from the best-selling book This Time Is Different--the definitive history of financial crises, including the recent subprime meltdown--answers these questions and more.Princeton Shorts are brief selections excerpte...

Meltdown, crisis, downturn, and the dreaded R-word: recession. These words have migrated from business sections to headline news.From barter to coins, from the origins of banking to todays credit crunch, this highly topical book explores cash, borrowing, and lending, and delves into the dark side of the global financial system.But as we teeter on the brink of a global depression, space develops for new thinking. From doing away with tax havens, putting teeth into r...

An engaging look at how modern finance almost destroyed our global economyOver the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy.In a clear and accessible style, ex-investment banker and financial journalist Martin ...

In economics, money illusion refers to the tendency of people to think of currency in nominal, rather than real, terms. In other words, the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false, as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century. Almost eve...

Banks and businesses today often deal with so many different operations, it may be seem difficult to see the purpose of each and how they relate to each other or how they relate to our daily lives. Like individuals, businesses rely on banks, and when banks are not practical, they find other means for financing, or raising and managing funds. Readers examine the role of banks and the process of business financing as insightful text breaks down such terms as interest rate, capital, dividend,...

In 2008, the world was plunged into a financial and economic crash. This book explores the roots of the crash, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played by housing and debt. It reviews the evidence that on the eve of the crash all was not well and that many political and finance industry leaders ignored the dangers. The key events of the crash are described, and the...

This is the eBook version of the printed book.This Element is an excerpt from Market Upside Down: How to Invest Profitably in a Shrinking Economy (9780137044863) by Vinh Q. Tran. Available in print and digital formats.What the world needs to learn from Japan’s market crash and the “lost decade” that followed it.Much has been written about the circumstances leading to Japan’s crash in December 1989, its aftermath, and the policy measures taken or not taken b...

Globally, there has been a shift from securities being held directly by an investor, to a situation in which many securities are held via an intermediary. The existence of one or more intermediaries between the investor and the issuer has a potentially significant impact on the rights of the investor, the role and obligations of the issuer, and on the position and responsibilities of the intermediary. However, different jurisdictions have dealt with the issues arising from intermediation i...

This practical guide offers a useful introduction to reinsurance, taking you step by step through the associated issues you really need to know about. An introduction is provided, setting the scene for further chapters on key topics such as the formation of agreements, terms, rights and obligations. The book covers the following areas: Nature of Reinsurance, Formation of Reinsurance, Agreements, Utmost Good Faith, Terms of Reinsurance Agreements, Rights and Obligations of the Parties, Foll...