A review by reggiewoods
The End of Alchemy: Money, Banking, and the Future of the Global Economy by Mervyn King

challenging hopeful informative inspiring reflective sad slow-paced

5.0

King’s analysis of the 2007-08 crises and the relationships between modern banks and society is so good that even the economists he calls out in the book have quotes included praising his work. He demonstrates how Keynesian Economics is no longer applicable for the complex problems of modern society, provides histories of financial crises and the mistakes that caused them, and proposes several solutions on how to create a more stable global economy moving forward. I would recommend this book above any other I have read for a better understanding of the global economy in the 21st century. The only issue I have with it is that despite recognizing all of its inherent flaws, Mr. King refuses to give up on Capitalism. While his proposals are mostly feasible as real-world solutions, they would not so much “fix” capitalism as lessen the degree of its instability and the disequilibrium it creates. Perhaps he simply being realistic to assume that our future will stay mired in capitalism, but many of his solutions feel as much a founding block to a new system as they do a fix to the current one. If more people like him can become decision makers in our future, there just might be some hope for a more equitable world.