Money

Does wealth erode character? Is money different from religion? The second edition of Money answers these questions and more. Eric Lonergan tells the tale of how the European Central Bank nearly destroyed the Eurozone, then saved it with three words. He shows how we can end recessions, reverse inequality and reduce our dependence on banks. We need to think clearly about what money is and how to use it. We also need to give central banks helicopters.

'Eric Lonergan's elegantly-written and thought-provoking polemic on the nature of money is a must-read for anyone interested in politics or economics' - Philip Coggan, author of Paper Promises

'Things they don't tell you at Davos: a deposit in a bank is an unbacked loan to a highly leveraged financial institution; quantitative easing is the cancellation of government debt; and the secret to ending a recession is to stop funnelling money through banks and simply give it to people to spend, especially poor people. If you like your economic shibboleths stabbed through the heart, roasted and served medium rare with a side of cold hard logic, you should read Eric Lonergan's Money. You will see not only money, but the whole economic process, in a new light. For anyone who has ever wondered what money actually is and how it works this book is quite simply the place to both start and finish.' - Mark Blyth, Professor of International Political Economy, Brown University and author of Austerity: The History of a Dangerous Idea