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The End of Alchemy Audiobook

The End of Alchemy: Money, Banking and the Future of the Global Economy

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Publisher's Summary

The past 20 years saw unprecedented growth and stability followed by the worst financial crisis the industrialised world has ever witnessed.

In the space of little more than a year, what had been seen as the age of wisdom was viewed as the age of foolishness. Almost overnight, belief turned into incredulity.

Most accounts of the recent crisis focus on the symptoms and not the underlying causes of what went wrong. But those events, vivid though they remain in our memories, comprised only the latest in a long series of financial crises since our present system of commerce became the cornerstone of modern capitalism.

Alchemy explains why, ultimately, this was and remains a crisis not of banking - even if we need to reform the banking system - nor of policy-making - even if mistakes were made - but of ideas.

In this refreshing and vitally important book, former governor of the Bank of England Mervyn King - an actor in this drama - proposes revolutionary new concepts to answer the central question: are money and banking a form of alchemy, or are they the Achilles heel of a modern capitalist economy?

©2016 Mervyn King (P)2016 Little Brown Book Group

What Members Say

Average Customer Rating

4.5 (119 )
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  •  
    Judy Corstjens 01/05/2017
    Judy Corstjens 01/05/2017 Member Since 2016

    Judith Corstjens Author of: Xtensity, Why 5% of Dieters Succeed; Storewars: The Battle for Mindspace and Shelfspace; Strategic Advertising

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    "Quite a hard read"

    I was constantly rewinding and ended up buying a hard copy. I would say Mervyn King is not a natural story writer - not a Michael Lewis - and the subject matter is hard. King seems to argue that people 'decide' to 'bring forward future earnings to the present' because they see the low interest rates and overestimate their future earnings (a sort of rational error). I think people just get into debt because they 'can', so I found some of his theorising unconvincing. I liked his 'paradox of policy', which explains why politicians are attracted to Keynesian expansion, because it works short term, but which actually gets them deeper in the s*** long run. This explains something that had been puzzling me - why politicians believe that more debt is a solution to a debt crisis. It is a paradox, comparable to Keynes's paradox of thrift. By the way, there is not really an optimistic ending to this book.

    Narration. I found it irritatingly 'Jackanory'. ie. the style is like an adult reading to a child, with exaggerated emphasis on clues as to what will happen next.

    0 of 0 people found this review helpful
  •  
    FarmerDave 26/04/2017
    FarmerDave 26/04/2017 Member Since 2017
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    "Interesting subject but dull delivery"

    Really interested in the subject matter but halfway through struggling with the sleep-inducing narration. I have the physical book as well so I'll turn to that.

    0 of 0 people found this review helpful
  •  
    Shorty RICHMOND, SURREY United Kingdom 06/01/2017
    Shorty RICHMOND, SURREY United Kingdom 06/01/2017 Member Since 2016
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    "Excellent!"

    Great first book, one I would have bought in hardback then taken a year to read. The narrator was excellent. 5 stars!

    0 of 0 people found this review helpful
  •  
    N. Dwyer Sussex, UK 14/11/2016
    N. Dwyer Sussex, UK 14/11/2016 Member Since 2015

    nick_dwyer

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    "Whether you agree with the author or not it's an excellent book"

    Reviews are always subjective of course but I enjoyed this book more than I thought I would. Given it's fairly recent the discussion around Greek debt, the role of the ECB and most recently Brexit are thought provoking. Brexit isn't covered but it's clear that it's a symptom of a much wider problem for the EU. Great audio book.

    0 of 0 people found this review helpful
  •  
    John 06/09/2016
    John 06/09/2016 Member Since 2017
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    "Suprised by frankness"
    What made the experience of listening to The End of Alchemy the most enjoyable?

    I had anticipated one book and got another. Anticipating a dryer tome sanitised of harsh truths, however, I received a compelling easy read with some unvarnished heavy opinions, given by a man whose opinions can be codified closer to the real world than most. Highly recommended.


    1 of 1 people found this review helpful
  •  
    Gary Watts 11/08/2016
    Gary Watts 11/08/2016 Member Since 2017
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    "Brilliant and informative book on global financed"

    Would recommend to anyone wanting to understand how global finances work and the reasons behind previous downturns. Also explains his concerns on different currencies.

    1 of 1 people found this review helpful
  •  
    Jake 12/01/2017
    Jake 12/01/2017 Member Since 2015
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    "Insightful if not a bit to clever about"

    This is a personal review as I feel it was very insightful and did in most areas breakdown the complex nature of the banking system very well, although I can't deny I got lost a few times with terminology. This book is an eye opener and one which I encourage people to listen to if we are ever going to question the future economy and banking infrastructure

    0 of 1 people found this review helpful

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