The New International Money Game - 9780230018976

`Luckily for all of us, Bob Aliber has updated his monumental work - again. Since so much has happened since the last edition, there was much updating to do, and Aliber has done it well, Isn't it impossible for a book to be a basic, if not encyclopedic, reference work and yet still be sprightly written? Apparently not, for Aliber has done it - again.'--- Alan S. Blinder, Princeton University, US

When Robert Z. Aliber's The International Money Came first appeared in 1973, it was widely acclaimed as the best - and the most entertaining - introduction to the arcane mysteries of international finance. The seventh edition of this classic work has been fully re-written to recognize the immense changes in the global economy in the last 35 years. There have been four waves of financial crises; each wave has involved the failures of banks and other financial institutions in three four, or more countries. Each wave of crises has been preceded by a wave of credit bubbles, which has involved the increase in the indebtedness of a group of borrowers at rates in the range of 20-30 percent a year for three, four or more years. These bubbles are related to global imbalances. A substantive preface surveys these major changes since the first edition

As in previous editions, Aliber's aim is not just to be topical. His witty, perceptive, and authoritative book focuses on fundamentals, on `how the pieces fit'. Aliber provides an indispensable and highly readable guide to the complex and increasingly fragile arrangement for financing the world's business