Phishing For Phools

Download Phishing For Phools full books in PDF, epub, and Kindle. Read online Phishing For Phools ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Narrative Economics

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 0691212074
Total Pages : 408 pages
Book Rating : 4.6/5 (912 download)

DOWNLOAD NOW!

Book Synopsis Narrative Economics by : Robert J. Shiller

Download or read book Narrative Economics written by Robert J. Shiller and published by Princeton University Press. This book was released on 2020-09-01 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.

Animal Spirits

Author : George A. Akerlof
Publisher : Princeton University Press
ISBN 13 : 1400834724
Total Pages : 261 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Animal Spirits by : George A. Akerlof

Download or read book Animal Spirits written by George A. Akerlof and published by Princeton University Press. This book was released on 2010-02-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.

Phishing for Phools

Author : George A. Akerlof
Publisher : Princeton University Press
ISBN 13 : 0691173028
Total Pages : 296 pages
Book Rating : 4.6/5 (911 download)

DOWNLOAD NOW!

Book Synopsis Phishing for Phools by : George A. Akerlof

Download or read book Phishing for Phools written by George A. Akerlof and published by Princeton University Press. This book was released on 2016-08-16 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the free-market system encourages so much trickery even as it creates so much good Ever since Adam Smith, the central teaching of economics has been that free markets provide us with material well-being, as if by an invisible hand. In Phishing for Phools, Nobel Prize–winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will "phish" us as "phools." Phishing for Phools therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery—and how it can be reduced through greater knowledge, reform, and regulation.

Identity Economics

Author : George A. Akerlof
Publisher : Princeton University Press
ISBN 13 : 140083418X
Total Pages : 192 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Identity Economics by : George A. Akerlof

Download or read book Identity Economics written by George A. Akerlof and published by Princeton University Press. This book was released on 2010-01-21 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: How identity influences the economic choices we make Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities—and not just economic incentives—influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics. The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures—and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being.

Finance and the Good Society

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 140084617X
Total Pages : 312 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Finance and the Good Society by : Robert J. Shiller

Download or read book Finance and the Good Society written by Robert J. Shiller and published by Princeton University Press. This book was released on 2013-04-21 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

GDP

Author : Diane Coyle
Publisher : Princeton University Press
ISBN 13 : 1400873630
Total Pages : 181 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis GDP by : Diane Coyle

Download or read book GDP written by Diane Coyle and published by Princeton University Press. This book was released on 2015-09-22 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: How GDP came to rule our lives—and why it needs to change Why did the size of the U.S. economy increase by 3 percent on one day in mid-2013—or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008—just as the world’s financial system went into meltdown? And why was Greece’s chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his country’s economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our lives—but that hardly anyone actually understands. Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. The reader learns why this standard measure of the size of a country’s economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods.

The New Financial Order

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 1400825474
Total Pages : 384 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis The New Financial Order by : Robert J. Shiller

Download or read book The New Financial Order written by Robert J. Shiller and published by Princeton University Press. This book was released on 2009-02-09 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.

In Pursuit of the Perfect Portfolio

Author : Andrew W. Lo
Publisher : Princeton University Press
ISBN 13 : 0691229880
Total Pages : 416 pages
Book Rating : 4.6/5 (912 download)

DOWNLOAD NOW!

Book Synopsis In Pursuit of the Perfect Portfolio by : Andrew W. Lo

Download or read book In Pursuit of the Perfect Portfolio written by Andrew W. Lo and published by Princeton University Press. This book was released on 2023-05-16 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the greatest thinkers in finance changed the field and how their wisdom can help investors today Is there an ideal portfolio of investment assets, one that perfectly balances risk and reward? In Pursuit of the Perfect Portfolio examines this question by profiling and interviewing ten of the most prominent figures in the finance world—Jack Bogle, Charley Ellis, Gene Fama, Marty Leibowitz, Harry Markowitz, Bob Merton, Myron Scholes, Bill Sharpe, Bob Shiller, and Jeremy Siegel. We learn about the personal and intellectual journeys of these luminaries—which include six Nobel Laureates and a trailblazer in mutual funds—and their most innovative contributions. In the process, we come to understand how the science of modern investing came to be. Each of these finance greats discusses their idea of a perfect portfolio, offering invaluable insights to today’s investors. Inspiring such monikers as the Bond Guru, Wall Street’s Wisest Man, and the Wizard of Wharton, these pioneers of investment management provide candid perspectives, both expected and surprising, on a vast array of investment topics—effective diversification, passive versus active investment, security selection and market timing, foreign versus domestic investments, derivative securities, nontraditional assets, irrational investing, and so much more. While the perfect portfolio is ultimately a moving target based on individual age and stage in life, market conditions, and short- and long-term goals, the fundamental principles for success remain constant. Aimed at novice and professional investors alike, In Pursuit of the Perfect Portfolio is a compendium of financial wisdom that no market enthusiast will want to be without.

The Reasonable Robot

Author : Ryan Abbott
Publisher : Cambridge University Press
ISBN 13 : 1108472125
Total Pages : 165 pages
Book Rating : 4.1/5 (84 download)

DOWNLOAD NOW!

Book Synopsis The Reasonable Robot by : Ryan Abbott

Download or read book The Reasonable Robot written by Ryan Abbott and published by Cambridge University Press. This book was released on 2020-06-25 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that treating people and artificial intelligence differently under the law results in unexpected and harmful outcomes for social welfare.

Mindware

Author : Richard E. Nisbett
Publisher : Macmillan
ISBN 13 : 0374112673
Total Pages : 331 pages
Book Rating : 4.3/5 (741 download)

DOWNLOAD NOW!

Book Synopsis Mindware by : Richard E. Nisbett

Download or read book Mindware written by Richard E. Nisbett and published by Macmillan. This book was released on 2015-08-18 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific and philosophical concepts can change the way we solve problems by helping us to think more effectively about our behavior and our world. Surprisingly, despite their utility, many of these tools remain unknown to most of us. In Mindware, psychologist Richart E. Nisbett presents these ideas in clear and accessible detail. Nisbett has made a career of studying and teaching such powerful problem-solving concepts as the law of large numbers, statistical regression, cost-benefit analysis, sunk costs and opportunity costs, and causation and correlation, probing the best methods for teaching others how to use them effectively in their daily lives. In this book, Nisbett shows how to frame common problems in such a way that these scientific and staitistical principles can be applied to them. The result is a practical guide to the most essential tools of reasoning ever developed--tools that can easily be used to make better professional, business, and personal decisions.--From publisher description.

Climate Shock

Author : Gernot Wagner
Publisher : Princeton University Press
ISBN 13 : 1400880769
Total Pages : 272 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Climate Shock by : Gernot Wagner

Download or read book Climate Shock written by Gernot Wagner and published by Princeton University Press. This book was released on 2016-04-19 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: How knowing the extreme risks of climate change can help us prepare for an uncertain future If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future—why not our planet? In Climate Shock, Gernot Wagner and Martin Weitzman explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth's atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance—as a risk management problem, only here on a global scale. With a new preface addressing recent developments Wagner and Weitzman demonstrate that climate change can and should be dealt with—and what could happen if we don't do so—tackling the defining environmental and public policy issue of our time.

The Production of Money

Author : Ann Pettifor
Publisher : Verso Books
ISBN 13 : 1786631377
Total Pages : 192 pages
Book Rating : 4.7/5 (866 download)

DOWNLOAD NOW!

Book Synopsis The Production of Money by : Ann Pettifor

Download or read book The Production of Money written by Ann Pettifor and published by Verso Books. This book was released on 2017-03-28 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is money, where does it come from, and who controls it? In this accessible, brilliantly argued book, leading political economist Ann Pettifor explains in straightforward terms history’s most misunderstood invention: the money system. Pettifor argues that democracies can, and indeed must, reclaim control over money production and restrain the out-of-control finance sector so that it serves the interests of society, as well as the needs of the ecosystem. The Production of Money examines and assesses popular alternative debates on, and innovations in, money, such as “green QE” and “helicopter money.” She sets out the possibility of linking the money in our pockets (or on our smartphones) to the improvements we want to see in the world around us.

The Bankers’ New Clothes

Author : Anat Admati
Publisher : Princeton University Press
ISBN 13 : 0691251703
Total Pages : 624 pages
Book Rating : 4.6/5 (912 download)

DOWNLOAD NOW!

Book Synopsis The Bankers’ New Clothes by : Anat Admati

Download or read book The Bankers’ New Clothes written by Anat Admati and published by Princeton University Press. This book was released on 2024-01-09 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Wall Street Journal, Financial Times, and Bloomberg Businessweek Book of the Year Why our banking system is broken—and what we must do to fix it New bank failures have been a rude awakening for everyone who believed that the banking industry was reformed after the Global Financial Crisis—and that we’d never again have to choose between massive bailouts and financial havoc. The Bankers’ New Clothes uncovers just how little things have changed—and why banks are still so dangerous. Writing in clear language that anyone can understand, Anat Admati and Martin Hellwig debunk the false and misleading claims of bankers, regulators, politicians, academics, and others who oppose effective reform, and they explain how the banking system can be made safer and healthier. Thoroughly updated for a world where bank failures have made a dramatic return, this acclaimed and important book now features a new preface and four new chapters that expose the shortcomings of current policies and reveal how the dominance of banking even presents dangers to the rule of law and democracy itself.

Irrational Exuberance

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 0691173125
Total Pages : 392 pages
Book Rating : 4.6/5 (911 download)

DOWNLOAD NOW!

Book Synopsis Irrational Exuberance by : Robert J. Shiller

Download or read book Irrational Exuberance written by Robert J. Shiller and published by Princeton University Press. This book was released on 2016-08-16 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the irrational exuberance of investors hasn't disappeared since the financial crisis In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize–winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis. With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets—and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places the book in broader context. In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.

The Death of Expertise

Author : Tom Nichols
Publisher : Oxford University Press
ISBN 13 : 0197763839
Total Pages : 337 pages
Book Rating : 4.1/5 (977 download)

DOWNLOAD NOW!

Book Synopsis The Death of Expertise by : Tom Nichols

Download or read book The Death of Expertise written by Tom Nichols and published by Oxford University Press. This book was released on 2024 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the early 1990s, a small group of "AIDS denialists," including a University of California professor named Peter Duesberg, argued against virtually the entire medical establishment's consensus that the human immunodeficiency virus (HIV) was the cause of Acquired Immune Deficiency Syndrome. Science thrives on such counterintuitive challenges, but there was no evidence for Duesberg's beliefs, which turned out to be baseless. Once researchers found HIV, doctors and public health officials were able to save countless lives through measures aimed at preventing its transmission"--

When We Are No More

Author : Abby Smith Rumsey
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1620408031
Total Pages : 240 pages
Book Rating : 4.6/5 (24 download)

DOWNLOAD NOW!

Book Synopsis When We Are No More by : Abby Smith Rumsey

Download or read book When We Are No More written by Abby Smith Rumsey and published by Bloomsbury Publishing USA. This book was released on 2016-03-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our memory gives the human species a unique evolutionary advantage. Our stories, ideas, and innovations--in a word, our "culture"--can be recorded and passed on to future generations. Our enduring culture and restless curiosity have enabled us to invent powerful information technologies that give us invaluable perspective on our past and define our future. Today, we stand at the very edge of a vast, uncharted digital landscape, where our collective memory is stored in ephemeral bits and bytes and lives in air-conditioned server rooms. What sources will historians turn to in 100, let alone 1,000 years to understand our own time if all of our memory lives in digital codes that may no longer be decipherable? In When We Are No More Abby Smith Rumsey explores human memory from pre-history to the present to shed light on the grand challenge facing our world--the abundance of information and scarcity of human attention. Tracing the story from cuneiform tablets and papyrus scrolls, to movable type, books, and the birth of the Library of Congress, Rumsey weaves a compelling narrative that explores how humans have dealt with the problem of too much information throughout our history, and indeed how we might begin solve the same problem for our digital future. Serving as a call to consciousness, When We Are No More explains why data storage is not memory; why forgetting is the first step towards remembering; and above all, why memory is about the future, not the past. "If we're thinking 1,000 years, 3,000 years ahead in the future, we have to ask ourselves, how do we preserve all the bits that we need in order to correctly interpret the digital objects we create? We are nonchalantly throwing all of our data into what could become an information black hole without realizing it." --Vint Cerf, Chief Evangelist at Google, at a press conference in February, 2015.

The Curse of Cash

Author : Kenneth S. Rogoff
Publisher : Princeton University Press
ISBN 13 : 1400888727
Total Pages : 318 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis The Curse of Cash by : Kenneth S. Rogoff

Download or read book The Curse of Cash written by Kenneth S. Rogoff and published by Princeton University Press. This book was released on 2017-06-27 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A brilliant and lucid new book” (John Lanchester, New York Times Magazine) about why paper money and digital currencies lie at the heart of many of the world’s most difficult problems—and their solutions In The Curse of Cash, acclaimed economist and bestselling author Kenneth Rogoff explores the past, present, and future of currency, showing why, contrary to conventional economic wisdom, the regulation of paper bills—and now digital currencies—lies at the heart some of the world’s most difficult problems, but also their potential solutions. When it comes to currency, history shows that the private sector often innovates but eventually the government regulates and appropriates. Using examples ranging from the history of standardized coinage to the development of paper money, Rogoff explains why the cryptocurrency boom will inevitably end with dominant digital currencies created and controlled by governments, regardless of what Bitcoin libertarians want. Advanced countries still urgently need to stem the global flood of large paper bills—the vast majority of which serve no legitimate purpose and only enable tax evasion and other crimes—but cryptocurrencies are like $100 bills on steroids. The Curse of Cash is filled with revealing insights about many of the most pressing issues facing monetary policymakers, from quantitative easing to alternative inflation targeting regimes. It also explains in detail why, if low interest rates persist, the best way to reinvigorate monetary policy is to implement fully effective and unconstrained negative interest rates. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash has sparked widespread debate and its ideas have moved to the center of financial and policy discussions.