It is my pleasure to offer you this seminal book in audio format, and my tribute to the authors. It cuts to the root of the linguistic, semantic and structural paradoxes not only of modern fiat money, but its several 'paradigm-of-liquidity' precedents; and reminds us of Keynes' genius in showing us a way towards a stable financial system.
Section 1: Phenomenology
01 Do we know what the financial markets are
02 Liquidity and Risk
03 What is credit
04 What is money
05 Finance starting from the end
06 Capitalism and debt: a matter of life and death
Section 2: History
01 From credit risk to liquidity risk (2008)
02 The globalisation of capital (1973)
03 Fiat Dollar (1971)
04 The Eurodollar Chimera (1958)
05 The European Payments Union (1950)
06 Bretton Woods: The Plan (1944)
07 Bretton Woods: The system that found implementation (1944)
08 The standard crisis (1929)
09 Orchestra rehearsal - the international gold standards and the dissolution of gold (1871)
10 Money before and after the gold standard (1717)
11 The invention of central banking (1694)
12 The international currency of the trade fairs (1533)
Section 3: Politics
01 Double or quits
02 The way out of liquidity: Gordian knot and Utopia
03 Prevention or cure? The structural paradox
04 Another Finance
05 The (rare) 'green shoots' of a possible reform
06 If not now, when?
I think finance is an enslavement tool.I also think there is absolute control of the economy by central banks and that the 2007 crisis was a creation to shift wealth and more consolidate banking. I fail to understand why people don't place the economy into there own hands. If the means of production is the individual why can not a group of individuals be an economy into itself.
If the creation pf money is in the hands of of a group of individuals and who and what they do is secret. Why would any economic have any value to those not part of this cabal?
Matthew, thanks for calling attention to what appears to be an important book, and for your excellent reading of the introduction. You have prompted me to take a closer look at the work of Amato and Fantacci. Among their important points is one that I have been trying to convey with regard to currency, that settlement must be possible from the outset, i.e., money has a beginning and an ending, it must be created and then extinguished once it has completed its job of facilitating exchange. A currency is a virtual representation of the value inherent in goods and services that are on the market ready to be sold.
Thank for your effort. Audio books are great because you can use time available when you couldn't otherwise read, like driving or doing the dishes. These are already on my mobile phone.
This is a remarkable book! Thank you Matthew! You have done the cause of heterodox economics a great service by making it available in this form. Like many others, I’m sure, I’ve greatly appreciated being guided through this book several times by your calming voice (and real world sound effects :-)
I want to encourage everyone I know to read or listen to this book, but I often hesitate because I find myself agreeing with some of the negative reviews on Amazon - Although this book is beautifully written and makes some brilliant observations, the authors/translator have used practically impenetrable prose in this edition. We need a "People's Edition" of this book - which translates each page into clear, simplified language that anyone can understand, but which remains true to the authors' original sense.
Is it reasonable to assume that you are in touch with the authors Matthew? Do you think that they would support a project to crowd-source such a "People's Edition"? I.e. Could we publish the text on some kind of collaboration/GitHub/Wiki environment, and then encourage people to help re-write it in language that even a Trump voter can understand?
I would certainly be willing to contribute to such an effort!
Interesting idea Jamie
The authors are on twitter and I've met each of them once, but I don't see why their permission or participation would be needed for a people's edition.
More than contributing would you be willing to lead such an effort?
Actually, yes - If it helps get the project off the ground, then I would be willing to lead such an effort Matthew - my vision however would be to deliver a "translation" that is firmly based on the authors' original text (or at least on the current English language translation - which I respect as almost a work of art!)
For this reason, I would want the project to start from a freely available electronic version of their original (English) text, and all contributors would need to be granted explicit consent/copyright-waiver etc (from the authors and publisher) to adapt that text for the purpose of making their ideas freely available to the broadest possible audience.
Based on your interactions with them, do you think they might be open to such a project?
Awesome book, many thanks Matthew.