The Only Game in Town
- Central Banks, Instability, and Avoiding the Next Collapse
- Narrated by: Dan Woren
- Length: 9 hrs and 15 mins
- Unabridged Audiobook
- Release date: 03-29-16
- Language: English
- Publisher: Random House Audio
Regular price: $28.00
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Dr. Mohamed A. El-Erian, one of the world's most influential economic thinkers and the author of When Markets Collide, has written a road map 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 in this role alone. They saved the financial system from collapse and a multiyear economic depression in 2008 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 listening for investors, policymakers, and anyone interested in the future.
Customer ReviewsMost Helpful
By Tyson on 07-19-16
This book is a marketing rhetoric for central banks
The book follows a collectivist agenda that promotes handing power over to central banks and international organizations. I'm not a big fan of that mindset so I was greatly turned off by the opinions of mr. El-Erian.
5 of 6 people found this review helpful
By Mike on 05-13-16
Provides solid framework for thinking about today's issues and organizing how they should be thought about. May be too simplistic for the very advanced econ reader. Thought provoking overall.
2 of 2 people found this review helpful