Extreme Money: Masters of the Universe and the Cult of Risk

Hardcover | August 7, 2011

bySatyajit Das

not yet rated|write a review

The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth--while endangering the jobs, possessions, and futures of virtually everyone outside finance.

 

"...virtually in a category of its own — part history, part book of financial quotations, part cautionary tale, part textbook. It contains some of the clearest charts about risk transfer you will find anywhere. ...Others have laid out the dire consequences of financialisation ("the conversion of everything into monetary form", in Das’s phrase), but few have done it with a wider or more entertaining range of references...[Extreme Money] does... reach an important, if worrying, conclusion: financialisation may be too deep-rooted to be torn out. As Das puts it — characteristically borrowing a line from a movie, Inception — "the hardest virus to kill is an idea". 
-Andrew Hill "Eclectic Guide to the Excesses of the Crisis" Financial Times (August 17, 2011)

 

Extreme Money named to the longlist for the 2011 FT and Goldman Sachs Business Book of the Year award.

Pricing and Purchase Info

$18.83 online
$30.99 list price (save 39%)
In stock online
Ships free on orders over $25
HURRY, ONLY 1 LEFT!
Prices may vary. why?
Please call ahead to confirm inventory.

From the Publisher

The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth--...

From the Jacket

The human race created money and finance. But our inventions re-create us. Mankind mistook money—a lubricant of society and human well-being—for an end in itself. Finance, the monetary shadow of real things, came to dominate human reality. Extreme Money tells the story of how this happened—and, in so doing, it tells the story of the mo...

Satyajit Das is an international specialist in the area of financial derivatives, risk management, and capital markets, with a global reputation.   Das presciently anticipated many aspects of the Global Financial Crisis in his 2006 book Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives. In a speech th...

other books by Satyajit Das

The Age Of Stagnation: Why Perpetual Growth Is Unattainable And The Global Economy Is In Peril
The Age Of Stagnation: Why Perpetual Growth Is Unattain...

Hardcover|Feb 9 2016

$23.51 online$26.50list price(save 11%)
Traders, Guns And Money: Knowns And Unknowns In The Dazzling World Of Derivatives
Traders, Guns And Money: Knowns And Unknowns In The Daz...

Paperback|Jan 6 2013

$16.35 online$17.99list price
Traders, Guns and Money: Knowns and unknowns in the dazzling world of derivatives Revised edition
Traders, Guns and Money: Knowns and unknowns in the daz...

Paperback|Feb 13 2010

$20.89 online$20.99list price
see all books by Satyajit Das
Format:HardcoverDimensions:480 pages, 9.28 × 6.37 × 1.21 inPublished:August 7, 2011Publisher:Pearson EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0132790076

ISBN - 13:9780132790079

Look for similar items by category:

Customer Reviews of Extreme Money: Masters of the Universe and the Cult of Risk

Reviews

Extra Content

Table of Contents

Prologue: Hubris     1

Part I: Faith    

Chapter 1: Mirror of the Times     21

Chapter 2: Money Changes Everything     38

Chapter 3: Business of Business     52

Chapter 4: Money for Sale     65

Chapter 5: Yellow Brick Road     78

Chapter 6: Money Honey     89

Part II: Fundamentalism

Chapter 7: Los Cee-Ca-Go Boys     101

Chapter 8: False Gods, Fake Prophecies     116

Part III: Alchemy

Chapter 9: Learning to Love Debt     133

Chapter 10: Private Vices     153

Chapter 11: Dice with Debt     168

Chapter 12: The Doomsday Debt Machine     188

Chapter 13: Risk Supermarkets     208

Chapter 14: Financial Arms Race     226

Chapter 15: Woodstock for Hedge Funds     239

Chapter 16: Minsky Machines     253

Part IV: Oligarchy

Chapter 17: War Games     264

Chapter 18: Shell Games     279

Chapter 19: Cult of Risk     294

Chapter 20: Masters of the Universe     307

Chapter 21: Financial Nihilism     321

Part V: Cracks

Chapter 22: Financial Gravity     337

Chapter 23: Unusually Uncertain     348

Epilogue: Nemesis     367

Notes     384

Select Bibliography     420

Index     429

 

Editorial Reviews

“A true insider’s devastating analysis of the financial alchemy of the last 30 years and its destructive consequences. With his intimate first-hand knowledge, Das takes a knife to global finance and financiers to reveal the inner workings without fear or favor.” –Nouriel Roubini, Professor of Economics at NYU Stern School of Business and Chairman of Roubini Global Economics   “Das describes the causes of the financial crisis with the insight and understanding of a financial wizard, the candor and objectivity of an impartial observer, and a wry sense of humor that reveals the folly in it all.” –Brooksley Born, Former Chairperson of the U.S. Commodity Futures Trading Commission (CFTC)   “This is the best book yet to come out of the financial crisis. Das is a graceful, witty writer, with an unusually broad range of reference. He is also a long-time master of the arcana of the netherworlds of finance and nicely balances historical sweep with illuminating detail. Extreme Money is lively, scathing, and wise. ” –Charles Morris, Author of The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash   “Like Hunter S. Thompson’s Fear and Loathing in Las Vegas, Extreme Money launches you into a fascinating and disturbing alternative view of reality. But now greed predominates, the distorted world of finance is completely global, and the people making crazy decisions can ruin us all. This is an informative, entertaining, and deeply scary account of Hades’s new realm. Read it while you can. ” –Simon Johnson, Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan School of Management and Author of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown   “You know when Lewis Caroll, Max Weber, Alan Greenspan, and Sigmund Freud all appear on the same early page that you are about to read an intellectual tour de force. Das is an authoritative and colorful critic of modern markets, and here he weaves financial history and popular culture into an entertaining and blistering social critique of how so many people have come to chase endless financial reflections of the real economy. Extreme Money speaks truth to power. ” –Frank Partnoy, George E. Barrett Professor of Law and Finance at the University of San Diego and Author of F.I.A.S.C.O, Infectious Greed, and The Match King