Gaining Currency

Gaining Currency
Author: Eswar Prasad
Publisher: Oxford University Press
Total Pages: 345
Release: 2017
Genre: Business & Economics
ISBN: 0190631058

China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown.

The Dollar Trap

The Dollar Trap
Author: Eswar S. Prasad
Publisher: Princeton University Press
Total Pages: 438
Release: 2015-08-25
Genre: Business & Economics
ISBN: 0691168520

Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

The Future of Money

The Future of Money
Author: Eswar S. Prasad
Publisher: Harvard University Press
Total Pages: 497
Release: 2021-09-28
Genre: Business & Economics
ISBN: 0674258444

A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

The Great Wall of Money

The Great Wall of Money
Author: Eric Helleiner
Publisher: Cornell University Press
Total Pages: 289
Release: 2014-09-08
Genre: Political Science
ISBN: 0801454662

As an economic superpower, China has become an increasingly important player in the international monetary system. Its foreign exchange reserves are the largest in the world and its exchange rate policy has become a major subject of international economic diplomacy. The internationalization of the renminbi (RMB) raises critical questions in international policy circles: What kinds of power is China acquiring in international monetary relations? What are the priorities of the Chinese government? What explains its preferences? In The Great Wall of Money, a distinguished group of contributors addresses these questions from distinct perspectives, revealing the extent to which China’s choices, and global monetary affairs, will be shaped by internal political factors and affect world politics. The RMB is a likely competitor for the dollar in the next couple of decades; its emergence as an important international currency would have substantial effects on the balance of power between the United States and China. By illuminating the politics of China’s international monetary relations, this book provides a timely account of the global economy, the role of the renminbi in international relations, and the trajectory of China’s continuing ascendency in the coming decades.

Money

Money
Author: Thomas Greco
Publisher: Chelsea Green Publishing
Total Pages: 322
Release: 2001-11-01
Genre: Business & Economics
ISBN: 160358188X

Cash. Loot. Scratch. Lucre. Bread. Coin. Scrip. Moolah. Green. We all think we know intuitively what money is, and what it can do for us. Tom Greco, director of the Community Information Resource Center, understands and explains money on an eye-popping, fundamental level. Moreover, he provides a roadmap on how to make alternatives to the "legal tender" work for individuals, communities, and local economies. Money will set your mental gears spinning with fantastic ideas. This book explains the mysteries and realities of money in clear and accessible prose, and reveals the true workings, and alarming fragility, of our existing financial system. It also describes concrete and realistic actions that individuals, businesses, social service agencies, and governments can take to enhance productivity and purchasing power, to protect local economies from the ravages of globalization, and to strengthen the bonds of community. Money is a radical critique of our existing financial system, but also a practical and inspirational how-to manual for creating a vibrant and effective community currency system. You'll learn: The truth about how money is created, and what it actually represents Why we're all in debt How the financial system is structured to inevitably transfer wealth from the poor to the rich How to start a financial revolution in your local community A retired professor of business and economics, Tom Greco has spent twenty years studying community currency systems around the world, including historical models (such as during the Great Depression), and the scores of contemporary examples now operating in the United States, Canada, Europe, South America, Australia, New Zealand, and Japan. He helped establish the Tucson Traders currency in Arizona, and he has served as a consultant for many others. No pie-in-the-sky idealist, Greco offers a realistic vision of how healthy local economies can be supplemented with flourishing community currencies. Anyone who works routinely with money needs this book--this means bankers, stockbrokers, merchants, community organizers, loan sharks, gamblers, investors, bank robbers, hedgefund operators, sports agents, and ordinary people.

The (near) Future of Central Bank Digital Currencies

The (near) Future of Central Bank Digital Currencies
Author: Nicola Bilotta
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Total Pages: 202
Release: 2021-02-26
Genre:
ISBN: 9783034342759

The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also have been an accelerator of the cashless mega-trend. Private players currently dominate the digital payment ecosystem, urging central banks to seek solutions to ensure public access to legal tender if cash is phased out. In this context, the idea of a Central Bank Digital Currency (CBDC) is gaining momentum. Nevertheless, there is a need to better understand the implications in terms of risks, benefits and potential costs of CBDCs. From privacy concerns to macroeconomic effects, these implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society.

Making Money

Making Money
Author: Christine Desan
Publisher: Oxford University Press, USA
Total Pages: 501
Release: 2014
Genre: Business & Economics
ISBN: 0198709579

In this revisionist history of the development of the modern monetary system, Desan argues that money effectively creates economic activity rather than emerging from it. Her account demonstrates that money's design has been a project central to governance and formative to markets.

Happy Money

Happy Money
Author: Elizabeth Dunn
Publisher: Simon and Schuster
Total Pages: 224
Release: 2013-05-14
Genre: Business & Economics
ISBN: 1476740704

If you think money can’t buy happiness, you’re not spending it right. Two rising stars in behavioral science explain how money can buy happiness—if you follow five core principles of smarter spending. If you think money can’t buy happiness, you’re not spending it right. Two rising stars in behavioral science explain how money can buy happiness—if you follow five core principles of smarter spending. Happy Money offers a tour of new research on the science of spending. Most people recognize that they need professional advice on how to earn, save, and invest their money. When it comes to spending that money, most people just follow their intuitions. But scientific research shows that those intuitions are often wrong. Happy Money explains why you can get more happiness for your money by following five principles, from choosing experiences over stuff to spending money on others. And the five principles can be used not only by individuals but by companies seeking to create happier employees and provide “happier products” to their customers. Elizabeth Dunn and Michael Norton show how companies from Google to Pepsi to Crate & Barrel have put these ideas into action. Along the way, the authors describe new research that reveals that luxury cars often provide no more pleasure than economy models, that commercials can actually enhance the enjoyment of watching television, and that residents of many cities frequently miss out on inexpensive pleasures in their hometowns. By the end of this book, readers will ask themselves one simple question whenever they reach for their wallets: Am I getting the biggest happiness bang for my buck?

Strategize to Win

Strategize to Win
Author: Carla A. Harris
Publisher: Penguin
Total Pages: 257
Release: 2022-07-12
Genre: Business & Economics
ISBN: 0147516544

The author of Expect to Win offers essential career strategies for today’s economic climate Appointed by President Barack Obama to chair the National Women’s Business Council in 2013, Carla Harris knows that the working world isn’t what it used to be. Addressing these changes, Harris’s new book gives today’s readers the tools they need to get started, get “unstuck” from bad situations, redirect momentum, and position themselves to manage their career no matter what the economic environment or job market might be. Readers know Harris, and they trust her straightforward advice. With battle-tested, step-by-step strategies for every career stage, Strategize to Win will takes its place beside Expect to Win as a category classic.