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- catalog abstract "Ever wonder why today's corporate leaders can't seem to plan for the long term? Why government can't control inflation? Why the stock market is more volatile than ever? Why interest rates rise and fall like the tides? Why economic forecasts never seem to be right? In The Death of Money, Joel Kurtzman, an economist and business columnist for The New York Times, brilliantly and convincingly argues that economic stability and a rapid rate of growth, once America's. Hallmarks, have been lost because the fundamental nature of money has changed. Money - in the traditional sense - died two decades ago with a single stroke of Richard Nixon's presidential pen. What followed was twenty years of a new economic disorder that began with soaring oil, gold, and real estate prices and continued with an unprecedented consumption binge by government agencies and the citizenry alike. In the twenty years of chaos, we've seen the savings and loan. Industry collapse, the banking system become weaker, eclipsed by the economy of finance, and an entirely new global medium of exchange created that Kurtzman calls "megabyte money." Most economists, Kurtzman argues, still don't know what - or how - it all happened. Megabyte money is different from anything that has preceded it - and from the money jingling in your pocket or purse. It is part of an intricate and fragile electronic system of truly global dimensions and of. Amazing complexity. It is a nonstop, seven-day-a-week, 24-hour network that links tens of thousands of computers in places as lofty as the Federal Reserve and the Tokyo Stock Exchange and as lowly as the automated gasoline pump that accepts credit cards. Megabyte money has created an entirely new global economy, one which, Kurtzman warns, is still largely unregulated, where government agencies, including the Federal Reserve and the Treasury, have ceded much power to the. World's bankers, speculators, corporate treasurers, financiers, and computer programmers. In The Death of Money, Kurtzman vividly explains how this new megabyte economy enables brokers to electronically bundle up your home mortgage with dozens of others, convert them into jumbo securities like a bond, and sell those securities to investors in Germany or Japan. In the new megabyte economy, Nobel Prize-winning equations are programmed into the computers at mutual fund. Companies, and mathematicians, physicists, and even rocket scientists are replacing the stock pickers of the past. In the megabyte economy, money is nothing more than the "1's" and "0's" of the computer's code. Moving instantly along electronic highways, $1.9 trillion changes hands each day in New York alone. Information - even wrong or incomplete information - instantly affects prices around the world. The death of money has created a strange new world most people have. Little knowledge of. It is a world that is far more volatile and chaotic than anything that has preceded it. Though this new world economic order evolved without a plan, Kurtzman warns that efficient new mechanisms must now be put into place to bring the economy under control. If we do so, he says, the vast, productive resources of our nation can again serve our needs.".
- catalog alternative "Electronic economy.".
- catalog contributor b4184944.
- catalog created "c1993.".
- catalog date "1993".
- catalog date "c1993.".
- catalog dateCopyrighted "c1993.".
- catalog description "1. Megabyte Money: How Vast Networks of Computers Linked Together Have Created a New Global Form of Highly Volatile Money and Displaced Governments in Importance -- 2. The Quant Factor: How Mathematicians and Rocket Scientists Have Replaced Stock Pickers and Traders in the World's Money Markets and Shortened the Time Frame for Investing -- 3. The Roots of Megabyte Money: How Reuters Holdings Invented the New Electronic Economy a Century Ago -- and Continues to Exploit It -- 4. A Weightless Dollar: How President Nixon, Choosing Expediency over Good Judgment, Inadvertently Created Megabyte Money -- 5. Storing Value: Why Megabyte Money Behaves Differently from Gold-backed Money, and Why Economists Fail to Recognize That Fact -- 6. Creating Money: How the Fed Was Set Up to Avoid Banking Failures and Issue Money but Ended Up Losing Power and Influence to the Private Sector -- 7. The Global Money-making Machine: When Money-creating Goes International Outside the Control of Governments -- ".
- catalog description "15. Complexity and the Markets: How Even the Most Exquisitely Complex and Sophisticated Systems Are Also Fragile -- 16. The Centerless Whole: How the Global Electronic Market Is Fueled by Fads and Fed by Rumors to Create Shorter Time Horizons and More Volatility -- 17. The Social Costs: When the Economic Unit Is the Globe, Where Do People Fit In? -- 18. Stabilizing an Unstable World: How Volatility Can Be Buffered to Prevent Widening Chaos and Upheaval.".
- catalog description "8. The Electronic Economy Goes Haywire: When an Information Overload Caused the Single World Market to Collapse with Trillions in Losses but Few People Hurt -- 9. Adventures in Cyberspace: Why the Crash of October 19, 1987, Was Different from Anything That Preceded It -- 10. Electronic Losses: Why So Few Investors Were Hurt in the Largest Collapse in History -- 11. The Money Equations: How a Handful of Computer "Nerds," Mathematicians, and Nobel Prize Winners Propelled Wall Street Away from Trading Products and into a Realm of Pure Abstraction -- 12. Make Way for the Programs: How Computer Programs Were Developed to Hedge Risk and Manage Money -- 13. Computers Run the Show: The Invention of Portfolio Insurance and How It Contributed to the Debacle on Wall Street -- 14. Opposing Forces: How the Electronic Economy Is Adding to Instability Not Just in the Economic Sphere but in the Social Sphere as Well -- ".
- catalog description "Amazing complexity. It is a nonstop, seven-day-a-week, 24-hour network that links tens of thousands of computers in places as lofty as the Federal Reserve and the Tokyo Stock Exchange and as lowly as the automated gasoline pump that accepts credit cards. Megabyte money has created an entirely new global economy, one which, Kurtzman warns, is still largely unregulated, where government agencies, including the Federal Reserve and the Treasury, have ceded much power to the.".
- catalog description "Companies, and mathematicians, physicists, and even rocket scientists are replacing the stock pickers of the past. In the megabyte economy, money is nothing more than the "1's" and "0's" of the computer's code. Moving instantly along electronic highways, $1.9 trillion changes hands each day in New York alone. Information - even wrong or incomplete information - instantly affects prices around the world. The death of money has created a strange new world most people have.".
- catalog description "Ever wonder why today's corporate leaders can't seem to plan for the long term? Why government can't control inflation? Why the stock market is more volatile than ever? Why interest rates rise and fall like the tides? Why economic forecasts never seem to be right? In The Death of Money, Joel Kurtzman, an economist and business columnist for The New York Times, brilliantly and convincingly argues that economic stability and a rapid rate of growth, once America's.".
- catalog description "Hallmarks, have been lost because the fundamental nature of money has changed. Money - in the traditional sense - died two decades ago with a single stroke of Richard Nixon's presidential pen. What followed was twenty years of a new economic disorder that began with soaring oil, gold, and real estate prices and continued with an unprecedented consumption binge by government agencies and the citizenry alike. In the twenty years of chaos, we've seen the savings and loan.".
- catalog description "Industry collapse, the banking system become weaker, eclipsed by the economy of finance, and an entirely new global medium of exchange created that Kurtzman calls "megabyte money." Most economists, Kurtzman argues, still don't know what - or how - it all happened. Megabyte money is different from anything that has preceded it - and from the money jingling in your pocket or purse. It is part of an intricate and fragile electronic system of truly global dimensions and of.".
- catalog description "Library Journal Best Books".
- catalog description "Little knowledge of. It is a world that is far more volatile and chaotic than anything that has preceded it. Though this new world economic order evolved without a plan, Kurtzman warns that efficient new mechanisms must now be put into place to bring the economy under control. If we do so, he says, the vast, productive resources of our nation can again serve our needs.".
- catalog description "World's bankers, speculators, corporate treasurers, financiers, and computer programmers. In The Death of Money, Kurtzman vividly explains how this new megabyte economy enables brokers to electronically bundle up your home mortgage with dozens of others, convert them into jumbo securities like a bond, and sell those securities to investors in Germany or Japan. In the new megabyte economy, Nobel Prize-winning equations are programmed into the computers at mutual fund.".
- catalog extent "256 p. ;".
- catalog hasFormat "Death of money.".
- catalog identifier "0671687999".
- catalog isFormatOf "Death of money.".
- catalog issued "1993".
- catalog issued "c1993.".
- catalog language "eng".
- catalog publisher "New York : Simon & Schuster,".
- catalog relation "Death of money.".
- catalog subject "332.4 20".
- catalog subject "Economic history 20th century.".
- catalog subject "Electronic funds transfers.".
- catalog subject "Finance History 20th century.".
- catalog subject "Financial services industry Technological innovations History 20th century.".
- catalog subject "HG220.A2 K87 1993".
- catalog subject "Money History 20th century.".
- catalog subject "Program trading (Securities)".
- catalog tableOfContents "1. Megabyte Money: How Vast Networks of Computers Linked Together Have Created a New Global Form of Highly Volatile Money and Displaced Governments in Importance -- 2. The Quant Factor: How Mathematicians and Rocket Scientists Have Replaced Stock Pickers and Traders in the World's Money Markets and Shortened the Time Frame for Investing -- 3. The Roots of Megabyte Money: How Reuters Holdings Invented the New Electronic Economy a Century Ago -- and Continues to Exploit It -- 4. A Weightless Dollar: How President Nixon, Choosing Expediency over Good Judgment, Inadvertently Created Megabyte Money -- 5. Storing Value: Why Megabyte Money Behaves Differently from Gold-backed Money, and Why Economists Fail to Recognize That Fact -- 6. Creating Money: How the Fed Was Set Up to Avoid Banking Failures and Issue Money but Ended Up Losing Power and Influence to the Private Sector -- 7. The Global Money-making Machine: When Money-creating Goes International Outside the Control of Governments -- ".
- catalog tableOfContents "15. Complexity and the Markets: How Even the Most Exquisitely Complex and Sophisticated Systems Are Also Fragile -- 16. The Centerless Whole: How the Global Electronic Market Is Fueled by Fads and Fed by Rumors to Create Shorter Time Horizons and More Volatility -- 17. The Social Costs: When the Economic Unit Is the Globe, Where Do People Fit In? -- 18. Stabilizing an Unstable World: How Volatility Can Be Buffered to Prevent Widening Chaos and Upheaval.".
- catalog tableOfContents "8. The Electronic Economy Goes Haywire: When an Information Overload Caused the Single World Market to Collapse with Trillions in Losses but Few People Hurt -- 9. Adventures in Cyberspace: Why the Crash of October 19, 1987, Was Different from Anything That Preceded It -- 10. Electronic Losses: Why So Few Investors Were Hurt in the Largest Collapse in History -- 11. The Money Equations: How a Handful of Computer "Nerds," Mathematicians, and Nobel Prize Winners Propelled Wall Street Away from Trading Products and into a Realm of Pure Abstraction -- 12. Make Way for the Programs: How Computer Programs Were Developed to Hedge Risk and Manage Money -- 13. Computers Run the Show: The Invention of Portfolio Insurance and How It Contributed to the Debacle on Wall Street -- 14. Opposing Forces: How the Electronic Economy Is Adding to Instability Not Just in the Economic Sphere but in the Social Sphere as Well -- ".
- catalog title "Electronic economy.".
- catalog title "The death of money : how the electronic economy has destabilized the world's markets and created financial chaos / Joel Kurtzman.".
- catalog type "History. fast".
- catalog type "text".