Money (second revised edition)


Robin Dellabough and Srinivas Rao.

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There was a problem filtering reviews right now. Please try again later. Capitalism has swept the modern world because it is a unique religion with no dogma, according to Lonergan and his understanding of the German philosopher Walter Benjamin. But capitalism requires rules based on institutional trust, which has been the strong point of the US until recently.

It is why most countries rely on the US dollar as the benchmark currency for international trade. The "strength" of the dollar is based on the trust people have of its future value. An example he cites is Argentina, where people do not trust the future of their country; however, Argentines do trust the US government, which is why they use US dollars for all major transactions. Lonergan explains money in terms of human emotion, fears, trust and innovation.

Basically, money reflects our trust in each other. It's a simple straightforward concept, but it's why paper -- instead of gold, barrels of oil or buckets of beans -- is the basis of local and international trade. As for the origins of money, he explains, "What? They just print it? A central banker needs only to " The key is trust; he explains, "The banking system is stabilized instantaneously when there is trust, and the ability to create money at will creates this trust.

There is a fine line between fear and danger, and the authority to print money is an extraordinary power. Print too much money, and inflation rises above 5 percent and people lose trust in government. As long as politicians don't print too much money, trust remains strong.

Money by Eric Lonergan

But, he warns, "For most of human history, sufficient trust did not exist for a system of paper money to persist. Since panic is a correlating behaviour, if we all fear a recession and save, the result will be a recession.

Optimism is a public good; fear is the opposite. Clear, logical and straightforward. It's also frightening to think of how seldom people use those qualities of thought, decision and action. Kindle Edition Verified Purchase. One person found this helpful 2 people found this helpful. The packaging was very good, fully protective. Delivery was fast and the product was at least as good as promised.

Working with Difficult People, Second Revised Edition

I will buy from this seller again. Like it or not, money and finance dominate much of our lives. We work for it, we borrow it, we lend it, we envy it. Related Video Shorts 0 Upload your video. Share your thoughts with other customers. Write a customer review. There was a problem filtering reviews right now. Please try again later. Capitalism has swept the modern world because it is a unique religion with no dogma, according to Lonergan and his understanding of the German philosopher Walter Benjamin.

But capitalism requires rules based on institutional trust, which has been the strong point of the US until recently. It is why most countries rely on the US dollar as the benchmark currency for international trade.

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The "strength" of the dollar is based on the trust people have of its future value. An example he cites is Argentina, where people do not trust the future of their country; however, Argentines do trust the US government, which is why they use US dollars for all major transactions. Lonergan explains money in terms of human emotion, fears, trust and innovation. Basically, money reflects our trust in each other.

It's a simple straightforward concept, but it's why paper -- instead of gold, barrels of oil or buckets of beans -- is the basis of local and international trade. As for the origins of money, he explains, "What? They just print it?

A central banker needs only to " The key is trust; he explains, "The banking system is stabilized instantaneously when there is trust, and the ability to create money at will creates this trust. There is a fine line between fear and danger, and the authority to print money is an extraordinary power. Print too much money, and inflation rises above 5 percent and people lose trust in government.

As long as politicians don't print too much money, trust remains strong. But, he warns, "For most of human history, sufficient trust did not exist for a system of paper money to persist.

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Since panic is a correlating behaviour, if we all fear a recession and save, the result will be a recession. Optimism is a public good; fear is the opposite. Clear, logical and straightforward. It's also frightening to think of how seldom people use those qualities of thought, decision and action. Kindle Edition Verified Purchase. One person found this helpful. The packaging was very good, fully protective. Delivery was fast and the product was at least as good as promised.

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I will buy from this seller again. Like it or not, money and finance dominate much of our lives. We work for it, we borrow it, we lend it, we envy it. And yet despite the importance of money, Lonergan's fascinating and highly original book illustrates how we actually understand very little about money and our relationship with it. What is money and where does it come from? What uses does finance really serve?

How does it affect us? Why is it that finance can be so destabilising? How could central bankers have dealt more effectively with the recent financial crisis?