A Primer on Money, Banking, and Gold (Paperback) ~ Paul A. Volck... Cover Art

A Primer on Money, Banking, and Gold (Paperback)

By: Paul A. Volcker (Author) and Peter L. Bernstein (Author)


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Publisher's note

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with these classic titles from a longer time horizon--including new introductions by the author and forewords by financial luminaries--readers will be able to enjoy some of the best Bernstein has to offer.

First published in 1962, The Price of Prosperity remains relevant in today's uncertain economic times. Bernstein discusses the future of an economy during difficult times and how government could potentially influence the ultimate outcome. He speaks to the same arguments that exist today: How much government control is too much? How is government spending linked to my own pocket?

In many ways, Bernstein's A Primer on Money, Banking, and Gold can be seen as an invaluable introduction to his bestseller The Power of Gold. He reveals and discusses the link that still exists between money and gold and explores both the history and business of banking, particularly the role the Federal Reserve plays in regulating the supply of money. He includes two classic case studies at the end of this invaluable guide, one detailing the financial playing field between 1938 and 1945 and the other detailing the economy after World War II.

Peter L. Bernstein (New York, NY) is the author of ten books, including the bestselling Against the Gods: The Remarkable Story of Risk (978-0-471-29563-1), Capital Ideas (978-0-471-73174-0), The Power of Gold: The History of an Obsession (978-0-471-00378-6), and Capital Ideas Evolving (978-0-471-73173-3), all from Wiley. He is also founder and President ofPeter L. Bernstein, Inc., an investment consulting firm he established in 1973, which serves institutional investors and corporations around the world.

Annotation

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity--which have forewords by financial luminaries and new introductions by the author--you can enjoy some of the best of Bernstein in his earlier Wall Street days.

With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial system--its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces.

Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy.

This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever.



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