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  • © 2014

The Money Trap

Escaping the Grip of Global Finance

Palgrave Macmillan

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-liii
  2. In the Trap

    1. Front Matter

      Pages 1-1
    2. Into the Danger Zone

      • Robert Pringle
      Pages 3-18
    3. Why Players Need a New Rulebook

      • Robert Pringle
      Pages 19-34
    4. How Monetary Systems Are Born

      • Robert Pringle
      Pages 35-49
    5. World Money without an Anchor

      • Robert Pringle
      Pages 50-68
  3. Searching for Ways Out

    1. Front Matter

      Pages 69-69
    2. Improving National Policies

      • Robert Pringle
      Pages 71-89
    3. A Solution for the Eurozone

      • Robert Pringle
      Pages 90-106
    4. Money International

      • Robert Pringle
      Pages 107-122
  4. Four Key Issues

    1. Front Matter

      Pages 123-123
    2. Those Global Imbalances

      • Robert Pringle
      Pages 125-140
    3. The Reserve Currency Overhang

      • Robert Pringle
      Pages 141-158
    4. Can Banks Be Made Safe?

      • Robert Pringle
      Pages 159-179
    5. Markets, States and Bubbles

      • Robert Pringle
      Pages 180-200
  5. The Power of Global Finance

    1. Front Matter

      Pages 201-201
    2. One Hundred Years of Currency Plans

      • Robert Pringle
      Pages 203-221
    3. The Choice of the Standard

      • Robert Pringle
      Pages 222-244
    4. The Leap to a New Monetary Order

      • Robert Pringle
      Pages 245-266
    5. The Emerging Global Financial System

      • Robert Pringle
      Pages 267-290

About this book

The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform.

Reviews

"The Money Trap looks deeply at the fundamental problems of reforming the international monetary system. Since the end of Bretton Woods, the world economy has not had rules that guided markets toward an efficient equilibrium that benefitted large and small countries. Pringle shows why current international arrangements repeatedly bring crises." - Allan Meltzer, University Professor of Political Economy, Carnegie Mellon University, USA

"In this lucidly written and wide-ranging treatment of the global financial crisis, Robert Pringle traces the modern historical origins of the crisis and draws together many elements of the story. Among the scores of books on the crisis, this one stands out for the accessibility of the account and the clear proposals it advances. It will be read with profit by all manner of practitioners and commentators." - Forrest Capie, Professor Emeritus in Economic History, CASS Business School, London, UK

"The Money Trap embodies an original, ambitious, bold, and provocative approach to the subject of the crisis and the monetary system A valuable addition to the literature available for policy makers, analysts, academics and participants in financial markets." - Dr. Y. V. Reddy, Former Governor, Reserve Bank of India

"This work is probably the most ambitious - and also relevant - attempt to explain the set of causes that led to the disasters of 2007 and following years. It proposes solutions based on economic literature andon the personal views of an author who has devoted most of his career to this fundamental subject. The analysis is fundamental not only for specialists but, more importantly, also for our society. It is a book that should be read by government officials, economists, students and citizens." - Jacques de Larosière, Managing Director of the International Monetary Fund (1978-87), Governor of the Banque de France (1987-93)

"It is always very important to review history, particularly the history of past mistakes. By doing that, we can see how we should behave in the future when similar crises hit us. Robert Pringle's book does exactly that. It contributes greatly to our understanding of the present international financial system." - Eisuke Sakakibara, Professor of Waseda University, Tokyo, Former Vice Minister of Finance and International Affairs of Japan

"This book cuts through all the carping and obfuscation to pinpoint the biggest burden on business enterprise: the lack of reliable money." - Graham Bannock, Co-author (with R.E.Baxter), The Palgrave Encyclopedia of World Economic History

Authors and Affiliations

  • Central Banking Publications, London, UK

    Robert Pringle

About the author

Robert Pringle, the chairman and founder of Central Banking journal, is a financial commentator, economics editor and entrepreneur. He has devoted his career to reporting and analysing developments in the international money and capital markets and the international monetary system. His experience gives him a unique perspective on the dramatic changes that have occurred in global economics and finance and the problems that face the world economy now. He has held senior positions on The Economist, The Banker (as editor), the Group of 30 (a well-known think tank of which he was the first director), and at the WIDER Institute of the United Nations University. He has also served as a consultant to leading commercial banks and to governments on economic policy issues. He founded Central Banking Publications in 1990 and has built it into a leading source of independent information and commentary on the activities of central banks around the world. He has interviewed numerous central bank governors and has commissioned and published original work by many leading international economists.

Bibliographic Information

Buy it now

Buying options

eBook USD 24.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 49.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 129.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access