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Extreme Money

Extreme Money

The Masters of the Universe and the Cult of Risk

by Satyajit Das and Satyajit Das
Paperback
Publication Date: 02/09/2011

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The human race created money and finance. But our inventions re-create us. Mankind mistook money-a lubricant of society and human well-being-for an end in itself. Finance, the monetary shadow of real things, came to dominate human reality. Extreme Money tells the story of how this happened-and, in so doing, it tells the story of the modern world.


Bestselling author Satyajit Das draws on 33 years of personal experience at the heart of modern global finance to narrate this story. Das reveals the spectacular, dangerous money games that have generated increasingly massive bubbles of fake growth, Ponzi prosperity, sophistication, and wealth-while endangering the jobs, possessions, and futures of virtually everyone outside the financial industry. Das shows how "extreme money" has become ever more unreal; how "voodoo banking" continues to generate massive phony profits even now; and how a new generation of "Masters of the Universe" has come to dominate the world.



Extreme Money is about:
The new financial fundamentalism: false gods, false prophets - Faith in money, faith in risk, faith in shadows
The cult of risk and the growth engine that isn't - How financial engineering replaced real engineering and illusions replaced reality
Financial alchemy and the "Doomsday Debt Machine"- The rise of the global financial machine we cannot escape
The new global oligarchy-and the nihilistic games they play - Too smart, too fast, too greedy, too self-absorbed-and far too dangerous
ISBN:
9780273723974
9780273723974
Category:
Economics
Format:
Paperback
Publication Date:
02-09-2011
Language:
English
Publisher:
Pearson Education Limited
Country of origin:
United Kingdom
Pages:
544
Dimensions (mm):
234x156x27mm
Weight:
0.8kg
Satyajit Das

Satyajit Das is a globally respected former banker and consultant with over forty years’ experience in financial markets. In 2014, Bloomberg nominated him as one of the fifty most influential financial thinkers in the world.

Das presciently anticipated, as early as 2006, the Global Financial Crisis. Subsequently, he accurately described the evolution of the post-crisis world – sluggish growth, disinflation, the increasing ineffectiveness of policy measures and retrenchment from globalisation. He identified the increasing political and social dimensions of the crisis, especially the growing democracy deficit and the end of trust. In 2016, in the context of the SARS and Ebola epidemics, he drew attention to the risk of disease and the lack of preparedness to deal with a global health crisis.

In his writings and public talks, he highlighted the linkages between the economic challenges and environmental, resource, and socio-political constraints, such as inequality and inter-generational tensions. The extend-and-pretend model, he argued, had reached the end of its utility, and rising complacency combined with the reluctance to make difficult choices made a serious future crisis inevitable.

Das is the author of two international bestsellers, Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives (2006) and Extreme Money: The Masters of the Universe and the Cult of Risk (2011). He was featured in Charles Ferguson’s 2010 Oscar-winning documentary Inside Job, the 2012 PBS Frontline series Money, Power & Wall Street, the 2009 BBC TV documentary Tricks with Risk, and the 2015 German film Who’s Saving Whom?

Satyajit Das

Satyajit Das is a globally respected former banker and consultant with over forty years’ experience in financial markets. In 2014, Bloomberg nominated him as one of the fifty most influential financial thinkers in the world.

Das presciently anticipated, as early as 2006, the Global Financial Crisis. Subsequently, he accurately described the evolution of the post-crisis world – sluggish growth, disinflation, the increasing ineffectiveness of policy measures and retrenchment from globalisation. He identified the increasing political and social dimensions of the crisis, especially the growing democracy deficit and the end of trust. In 2016, in the context of the SARS and Ebola epidemics, he drew attention to the risk of disease and the lack of preparedness to deal with a global health crisis.

In his writings and public talks, he highlighted the linkages between the economic challenges and environmental, resource, and socio-political constraints, such as inequality and inter-generational tensions. The extend-and-pretend model, he argued, had reached the end of its utility, and rising complacency combined with the reluctance to make difficult choices made a serious future crisis inevitable.

Das is the author of two international bestsellers, Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives (2006) and Extreme Money: The Masters of the Universe and the Cult of Risk (2011). He was featured in Charles Ferguson’s 2010 Oscar-winning documentary Inside Job, the 2012 PBS Frontline series Money, Power & Wall Street, the 2009 BBC TV documentary Tricks with Risk, and the 2015 German film Who’s Saving Whom?

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