Money, Going out of Style
The story of money and the mystery of its demise
by Zvi Schreiber
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Pub Date 15 Aug 2021 | Archive Date 31 Dec 2021
Description
Money, as we know it, was born in 1971 when currencies unlinked from gold. During its adolescence, money was hyperactive, causing rampant inflation. Three decades of mature growth followed. But in middle age, money is changing again, losing its vibrancy and appeal. Central banks have printed trillions of dollars, euros, and yen, only to see it mostly sitting dormant, unappreciated, neither driving growth nor inflation.
As it achieves the age of fifty, money is experiencing its figurative menopause. It used to have a regular monthly cycle of payroll and shopping. But the cycle is increasingly erratic and infrequent. Nobody saw this coming; if money feels misunderstood, that’s probably because it is. Until now.
Money: Going Out of Style first offers the reader a clear understanding of economics and the role of money, by following an island tribe as they develop money and an ever more sophisticated economy. The book never forgets that money is secondary to the real economy: goods, services, and tools.
Armed with this deeper appreciation of money and economics, the book returns to the present day to examine money’s midlife crisis: the effect of rising inequality, and how it’s causing money to go out of style.
Available Editions
| EDITION | Paperback |
| ISBN | 9780983396857 |
| PRICE | US$9.95 (USD) |
Available on NetGalley
Featured Reviews
C M, Reviewer
This book by Zvi Schreiber uses simple examples and a good sense of humor to cover the very basics of the invention of money, and the innovations in economic systems over time. The book is divided into nine parts, with a total of about 53 chapters.
Schreiber's humorous writing style stands out in the Introduction; and I was excited to read the rest of the book, as some of my favorite books are those that can convey a great deal of information while adding in some some laughs and entertainment.
Schreiber starts by using the example of a small, sparsely populated island to explain how an economic system develops. He starts with the development of agriculture and takes us through all the major steps all the way to a modern economic system. These basic examples are easy to follow, and effectively explain the factors that led to the development of increasingly complex systems for the exchange of goods.
While a good portion of this book covers very basic economic concepts; in the Introduction Schreiber does mention that those who are very familiar with economics might want to skip to parts seven and eight, which are more focused on modern-day issues. It is here that Schreiber tackles wealth inequality, negative interest rates, stock market inflation, cryptocurrency and more.
Overall I really enjoyed this book. I would highly recommend it to anyone that is unfamiliar with economics; and even if you have a bit of knowledge on the subject, this a good refresher, with some extra interesting points that Schreiber brings up about the current world economy. I think that this kind of book is also great for children around middle school age, as it explains complicated ideas in a very easy to understand manner.
