Easy Money: Evolution of the Global Financial System to the Great Bubble Burst - Softcover

Kaul, Vivek

Softcover

ISBN 10: 8132113438 ISBN 13: 9788132113430

Publisher: SAGE Publications Pvt. Ltd, 2013

Synopsis

The second book in the Easy Money trilogy discusses how the global financial system evolved in the aftermath of the First World War and how that finally led to the dot-com crash in the United States, in the early 2000s. It gives an overview of how in the aftermath of the First World War, Europe was in major trouble. The book also analyzes how the United Kingdom of Great Britain, which was once the premier nation of the world, lost out to its former colony, the United States of America.

The dominance of the United States led to its currency, the dollar, becoming the international reserve currency. This led to the United States having an exorbitant privilege which it still continues to have. Over the years, this exorbitant privilege has led to many financial crises in different parts of the world. It has also been responsible for the current financial crisis as well.   The book concludes with the wisdom of the legendary investor Warren Buffett, who was deemed to be a failure, during the heydays of the dot-com bubble, when his investment company Berkshire Hathaway could not generate the stupendous returns that dot-com stocks had been generating. Nevertheless, in the end, it was Buffett who had the last laugh. As he wrote to his shareholders: "But a pin lies in wait for every bubble." The lessons of the dot-com bubble bursting were never really learnt, and soon the same mistakes would be made again.

About this title

About the Author:

Vivek Kaul has worked at senior positions with the Daily News and Analysis (DNA) and The Economic Times. His writings have appeared across various other publications in India. These include The Times of India, The Hindu, The Hindu Business Line, Indian Management, Asian Age, Deccan Chronicle, Forbes India, Quartz India, Mutual Fund Insight, and Wealth Insight. He has also written regularly for rediff.com. Currently, he is a regular columnist for firstpost.com and firstbiz.com. His areas of interest are political economy, the international financial crisis, personal finance, marketing and branding, and anything to do with cinema and music. His only regular hobby in life is watching movies first day first show. Every other hobby he had (reading, writing, listening to music) is now a part of his daily work routine. He blogs at http://teekhapan.wordpress.com/ and can be reached at vivek.kaul@gmail.com.

Review:

"If you want to read about all the experimentation and follies of governments and economists involving the use and abuse of money over the ages, you can do no better than to read Vivek Kaul’s eminently readable Easy Money."

Author: R. Jagannathan Source: (in the Foreword)

"Asking someone what a thing costs will draw a speedy reply. But now ask them what money is ... Vivek has asked himself precisely this question and this fine book is a culmination of his dogged pursuit of the answer. Join him in his rich intellectual voyage and see for yourself where it leads."

Author: Dylan Grice

"Kaul′s book is the financial equivalent of the story of the origin of the universe."

Author: Kevin Maney

Praise for Easy Money: Evolution of Money from Robinson Crusoe to the First World War
"Forget what you think you know about money and read the true, absorbing tale told by Vivek Kaul in his thorough, but fascinating book, Easy Money. A great read." Author: Al Ries

"Kaul is not an economist and rightly assumes that neither are his readers. Unlike other books that seem to have had been written by one economist for another, this book is for everyone who is ready to try out a riveting cocktail of history and economics. There is no jargon to throw you off balance. Instead, the writing is simple, suave and lucid."

Author: Daily News and Analysis (DNA)

An eminently readable take on the use and abuse of money by Vivek Kaul.

Author: Business Line

A very interesting read...The second book in trilogy is strongly recommended. If one wants to understand the present, one must read the historical account of the evolution of money.

Author: The Hindu

Kaul’s work, though elaborate, gives readers a clear understanding of the events that shaped the current financial world.

Author: DNA Mumbai

About this edition

• Publisher: SAGE Publications Pvt. Ltd
• Publication date: 2013
• ISBN 10: 8132113438
• ISBN 13: 9788132113430
• Binding: Paperback
• Edition number: 1
• Number of pages: 356