Extreme Money: Masters of the Universe and the Cult of Risk

Extreme Money: Masters of the Universe and the Cult of Risk

by Satyajit Das
Epub (Kobo), Epub (Adobe)
Publication Date: 04/08/2011

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The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth--while endangering the jobs, possessions, and futures of virtually everyone outside finance.


"...virtually in a category of its own — part history, part book of financial quotations, part cautionary tale, part textbook. It contains some of the clearest charts about risk transfer you will find anywhere. ...Others have laid out the dire consequences of financialisation ("the conversion of everything into monetary form", in Das’s phrase), but few have done it with a wider or more entertaining range of references...[Extreme Money] does... reach an important, if worrying, conclusion: financialisation may be too deep-rooted to be torn out. As Das puts it — characteristically borrowing a line from a movie, Inception — "the hardest virus to kill is an idea".

-Andrew Hill "Eclectic Guide to the Excesses of the Crisis" Financial Times (August 17, 2011)


Extreme Money named to the longlist for the 2011 FT and Goldman Sachs Business Book of the Year award.

ISBN:
9780132790192
9780132790192
Category:
General & world history
Format:
Epub (Kobo), Epub (Adobe)
Publication Date:
04-08-2011
Language:
English
Publisher:
Pearson Education
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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