Paper Promises: Debt, Money, and the New World Order

    By Philip Coggan
Winner of the "Spear's" Best Business Book Award
Longlisted for the 2012 "Financial Times" and Goldman Sachs Business Book of the Year Award
For the past forty years western economies have splurged on debt. Now, as the reality dawns that many debts cannot be repaid, we find ourselves again in crisis. But the oncoming defaults have a time-worn place in our economic history. As with the crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge. Just as Britain set the terms of the international system in the nineteenth century, and America in the twentieth century, a new system will be set by today's creditors in China and the Middle East. In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers and one country against another.

In "Paper Promises," Economist columnist Philip Coggan helps us to understand the origins of this mess and how it will affect the new global economy by explaining how our attitudes towards debt have changed throughout history, and how they may be about to change again.


NEWS: The Shortlist for the 2012 FT/Goldman Sachs Business Book Award

Posted September 14, 2012, 3:00 PM with category of Publishing Industry
The shortlist for the 2012 Financial Times and Goldman Sachs Business Book of the Year Award is in, and it is really good. Biographies and economics dominate what FT editor Lionel Barber says is “the strongest list” since the prize launched in 2005. Even though one of my favorite books of the year, Paper Promises: Money, Debt and the New World Order by Philip Coggan didn't make the cut, I think I agree with Mr. Read more

NEWS: The Longlist for the 2012 FT/Goldman Sachs Business Book Award

Posted August 10, 2012, 6:20 PM with category of Publishing Industry
Andrew Hill's article yesterday in The Financial Times announcing the longlist for the 2012 Financial Times and Goldman Sachs Business Book of the Year Award was entitled A reading list to reflect loss of faith in capitalism. That headline is more than a little hyperbolic. The statement in the article itself that the list "includes an array of titles charting the strengths and weaknesses of the American corporate, economic and financial system" is a bit more accurate, especially if you replace the word "American" with "global. Read more

STAFF PICKS: Paper Promises

Posted February 7, 2012, 10:43 PM with category of General Business
Our economic lives could literally stop on a dime. All it would take is an agreement redefining what a dime is, or is worth, backed by or tied to. It's happened before, and The Economist's "Buttonwood" columnist Philip Coggan believes it will inevitably happen again as the great international play of creditors and debtors enters its next act. Read more


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ISBN 9781610391276
Language English
Publish Date 01/16/2012
Publisher PublicAffairs

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