The End of Banking: Money, Credit, and the Digital Revolution ペーパーバック – 2014/11/21
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In this thought-provoking book, Jonathan McMillan dissects banking to reveal its inner workings. He cuts through the complexity of modern finance and explains how banking almost crashed our financial system. Banking is broken, and McMillan reveals why we can no longer fix it. The digital revolution turns out to be the game changer that calls for the end of banking. But McMillan refrains from merely pointing out flaws. Building on economic research and a rigorous analytical approach, he goes on to provide an innovative blueprint for a modern financial system. The End of Banking transforms our understanding of the financial system. It identifies the root cause of today's problems with banking and presents a solution that stands out against existing reform proposals.
The only thing is that the book may be too clever to achieve its aim. Since the author does not rely on any exaggerated imagery or blunt argument, it may not draw a the political following that it deserves. Therefore, I hope that enough smart people read it, who are attracted by its sharpness and enjoy to base their political views on rational arguments. That way, we will perhaps see one day the necessary political force to really establish alternatives to banking.
Certainly, one of the most important books I have read in my life.