Central Banks, Instability, and Avoiding the Next Collapse
Author: Mohamed A. El-Erian
Pubpsher: Yale University Press
Category: Business & Economics
Surrounded by sluggish growth, high rates of unemployment, rising inequality, growing financial instability and increased social tensions, pessimism about our future abounds. Dr. Mohamed A. El-Erian, one of the world’s most influential economic thinkers, explains lucidly the realities of the economic choices that we will soon face. The path that the global economy and markets are on is ending. But what comes thereafter is far from predestined. It critically depends on choices that we make as households and companies, and decisions that our political representatives take. The Only Game in Town details how the world is increasingly being shaken, both from above and from below. It illuminates the growing internal contradictions, the constraints that are undermining growth and prosperity, and the radical overhaul in thinking that is required. In the aftermath of the financial crisis, central banks were handed responsibility for the fate of the global economy. Lifting the veil on the inner workings of these powerful and innovative institutions, El-Erian explains why they cannot save us this time around. Laying out a road map for growth, The Only Game in Town shows how and why collaboration between central bankers, policymakers and business leaders is essential. Drawing on insights from behavioral science, economics and finance, this book provides the tools needed to understand the uncertainties that lie ahead and return us to a path of prosperity. Thought provoking and insightful, this book is required reading for investors, policymakers, and anyone interested in the future.
For more than eighty years, The New Yorker has been home to some of the toughest, wisest, funniest, and most moving sportswriting around. The Only Game in Town is a classic collection from a magazine with a deep bench, including such authors as Roger Angell, John Updike, Don DeLillo, and John McPhee. Hall of Famer Ring Lardner is here, bemoaning the lowering of standards for baseball achievement—in 1930. John Cheever pens a story about a boy’s troubled relationship with his father and the national pastime. From Lance Armstrong to bullfighter Sidney Franklin, from the Chinese Olympics to the U.S. Open, the greatest plays and players, past and present, are all covered in The Only Game in Town. At The New Yorker, it’s not whether you win or lose—it’s how you write about the game.
This is a Summary of NEW YORK TIMES BESTSELLER The Only Game in Town by Dr. Mohamed A. El-Erian. One of the world's most influential economic thinkers and the author of When Markets Collide, has written a roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis. Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors-and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector-before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. Available in a variety of formats, this summary is aimed for those who want to capture the gist of the book but don't have the current time to devour all 320 pages. You get the main summary along with all of the benefits and lessons the actual book has to offer. This summary is not intended to be used without reference to the original book.
Baseball Stars of the 1930s and 1940s Talk About the Game They Loved
Author: Fay Vincent
Pubpsher: Simon and Schuster
Category: Sports & Recreation
An account of baseball in the 1930s and 1940s is presented from the perspectives of players who share memories about such topics as the dominance of the Yankees, the impact of World War II, and the integration of African-American ballplayers.