Items related to The Price of Time
Synopsis
The first book of the next crisis.*Winner of the 2023 Hayek Book Prize**Longlisted for the 2022 Financial Times Business Book of the Year Award*All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of the price that individuals, companies and nations pay to borrow money.In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law ' s ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility.Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead.
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The Price of Time: The Real Story of Interest
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Fair. A readable copy of the book which may include some defects such as highlighting and notes. Cover and pages may be creased and show discolouration. Seller Inventory # GOR014322283
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The Price of Time: The Real Story of Interest
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR012361426
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The Price of Time - The Real Story of Interest,
Seller: Antiquariat Orban & Streu GbR, Frankfurt am Main, Germany
Seller rating 5 out of 5 stars
8°, XXVI, 398 p. + 8 Tafeln mit s/w-Abbildungen, Text: englisch, roter original Pappband (Hardcover), original Schutzumschlag, Farbvorsätze, Schutzumschlag vorne an der Oberkante minimal nach außen gewölbt, sonst ein sehr gutes, sauberes Exemplar. Sprache: Englisch. Seller Inventory # 18902BB
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The Price of Time
Published by
Allen Lane, 2022
ISBN 10: 0241569168
ISBN 13: 9780241569160
Used
Hardcover
First Edition
Seller: Rotary Charity Books, Albert Park, VIC, Australia
Seller rating 5 out of 5 stars
Hardcover. Condition: As New. Dust Jacket Condition: As New. 1st Edition. Condition of hardback Book: As New A history of interest rates and their many unexpected ramifications from a leading financial historian and investment strategist. All economic and financial activities take place across time. Interest coordinates these activities. The story of capitalism is thus the story of interest- the price that individuals, companies and nations pay to borrow money. In The Price of Time, Edward Chancellor traces the history of interest from its origins in ancient Mesopotamia, through debates about usury in Restoration Britain and John Law's ill-fated Mississippi scheme, to the global credit booms of the twenty-first century. We generally assume that high interest rates are harmful, but Chancellor argues that, whenever money is too easy, financial markets become unstable. He takes the story to the present day, when interest rates have sunk lower than at any time in the five millennia since they were first recorded - including the extraordinary appearance of negative rates in Europe and Japan - and highlights how this has contributed to profound economic insecurity and financial fragility. Chancellor reveals how extremely low interest rates not only create asset price inflation but are also largely responsible for weak economic growth, rising inequality, zombie companies, elevated debt levels and the pensions crises that have afflicted the West in recent years - conditions under which economies cannot possibly thrive. At the same time, easy money in China has inflated an epic real estate bubble, accompanied by the greatest credit and investment boom in history. As the global financial system edges closer to yet another crisis, Chancellor shows that only by understanding interest can we hope to face the challenges ahead. 398pp. Seller Inventory # 991
Quantity: 1 available