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Extreme Money: the Masters of the Universe and the cult of risk

Extreme Money: the Masters of the Universe and the cult of risk

The Masters of the Universe and the Cult of Risk

by Satyajit Das
Paperback
Publication Date: 29/01/2014

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Epic in its scope, Extreme Money reveals how we have all become slaves to our own illusory, unsustainable creation- global finance.


The bestselling author on how money and finance enslaved the world.

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 over thirty 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.

Epic in its scope, Extreme Money reveals how we have all become slaves to our own illusory, unsustainable creation- global finance.

'A true insider's devastating analysis of the financial alchemy of the last thiry years and its destructive consequences.' Nouriel Roubini, Professor of Economics and NYU Stern School of Business and Chairman of Roubini Global Economics

'The best book yet to come out of the financial crisis.' Charles Morris, author of The Two Trillion Dollar Meltdown

'A rich analysis told with colour and verve.' Philip Augar, author of Reckless- The Rise and Fall of the City
ISBN:
9780143571452
9780143571452
Category:
Economic history
Format:
Paperback
Publication Date:
29-01-2014
Publisher:
Penguin Random House Australia
Country of origin:
Australia
Pages:
544
Dimensions (mm):
199x130x34mm
Weight:
0.43kg
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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