Philip Coggan’s book, often referred to by its memorable title, provides a detailed explanation of the modern financial system. It explores the complex interplay between central banks, commercial banks, investment banks, and other financial institutions, illustrating how money is created, allocated, and managed in the global economy. The book uses clear examples and analogies to make these often-opaque processes accessible to a wider audience.
Understanding the intricacies of finance is crucial for navigating the modern world. Coggan’s work offers valuable insights into the forces shaping economic growth, stability, and crises. By demystifying the mechanisms of the financial system, the book empowers readers to make informed decisions about personal finance, investments, and public policy. Published in 2011, it provides historical context for understanding the Global Financial Crisis and its aftermath, offering valuable lessons for preventing future economic turmoil.
