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Money in the Twenty-First Century : Cheap, Mobile, and Digital / Richard Holden.
- Format:
- Book
- Author/Creator:
- Holden, Richard, 1626 or 1627-1702, author.
- Language:
- English
- Subjects (All):
- Economics.
- Physical Description:
- 1 online resource (xiii, 209 pages) : illustrations
- Edition:
- First edition.
- Place of Publication:
- Oakland, California : University of California Press, [2024]
- System Details:
- Mode of access: World Wide Web.
- Summary:
- An economist examines three modern forces that have redefined what "money" means, who controls it, and what the future of finance might look like. Money is increasingly cheap, digital, and mobile. In Money in the Twenty-First Century, economist Richard Holden examines the virtues and risks of low interest rates, mobile money, and cryptocurrencies, and explains how these three elemental forces will continue to play out--in our wallets, on the blockchain, and throughout major economies--in the decades to come. Holden weaves in the stories of three people who have exerted massive influence over the future of modern money: US treasury secretary Janet Yellen, Ethereum cofounder Vitalik Buterin, and Raghuram Rajan, former governor of the Reserve Bank of India and chief economist at the International Monetary Fund. Moving from micro to macro, Holden investigates the infrastructure that permits digital transactions, the currencies that underpin them, the race for control of those currencies, shifts in policy and the international monetary system, and the impact on our politics of money in the digital age. Ultimately, Money in the Twenty-First Century asks if governments can keep these three tectonic powers of low interest rates, mobile money, and decentralized finance under control.
- Contents:
- Cover
- Title Page
- Copyright
- Dedication
- Contents
- Prologue
- 1. The Year That Changed Everything
- Low Interest Rates
- Cryptocurrencies
- Mobile Money
- The Challenge
- 2. The Cashless Society
- Becoming Cashless
- India's Demonetization: A Cautionary Tale
- 3. Mobile Money and Digital Banking
- The Monetary System and Inflation
- Digital Payments
- Mobile Money in the Global South
- 4. Crypto
- Satoshi
- Vitalik
- How Useful is Crypto?
- Private Digital Currencies and Stable Coins
- Bezos Bucks, Google Gold, or Apples?
- Regulating Crypto
- What about the Planet?
- 5. Govcoins
- Designing a us Govcoin
- The Impact on us Monetary Policy
- What about the Banking Sector?
- Retiring Cash
- The Case for Fedcoin
- 6. The Exorbitant Privilege
- A Global Reserve Currency in the Digital Age
- Beating China in the CBDC Race
- 7. Cheap Money, Asset Bubbles, and Government Finances
- Secular Stagnation
- Cheap Money and Asset Bubbles
- The Fed's Impact on the Global South
- Government Finances and Printing Money
- 8. Conclusion
- An Inclusive Future
- Domestic Financial Regulation
- International Financial Diplomacy and Economic Realism
- Web3
- The Future
- Acknowledgments
- Notes
- References
- Index
- About the Author.
- Notes:
- Includes bibliographical references and index.
- Description based on publisher supplied metadata and online resource; title from digital title page (viewed on December 07, 2023).
- Description based on print version record.
- ISBN:
- 0-520-39527-1
- OCLC:
- 1409679536
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