Электронная книга: Thomas Mayer «Paper Money Collapse. The Folly of Elastic Money»

Paper Money Collapse. The Folly of Elastic Money

Explore the inevitable collapse of the fiat monetary system Paper Money Collapse: The Folly of Elastic Money, Second Edition challenges the mainstream consensus on money and monetary policy. While it is today generally believed that the transition from'hard'and inflexible commodity money (such as a gold standard) to entirely flexible and potentially unlimited fiat money under national central banks allows for superior economic stability, Paper Money Collapse shows that the opposite is true. Systems of highly elastic and constantly expanding money are not only unnecessary, even for growing economies, they are always extremely destabilizing. Over time, they must lead to substantial imbalances, including excessive levels of debt and distorted asset prices, that will require ever faster money production to sustain. Ultimately, however, there is no alternative to a complete liquidation of these distortions. Based on insights of many renowned economists and in particular of the Austrian School of Economics, the book explains through rigorous logic and in precise language why our system of flexible fiat money is incompatible with a market economy and therefore unsustainable. Paper money systems have always led to economic disintegration—without exception—throughout history. It will not be different for our system and we may be closer to the endgame than many think. The updated second edition incorporates: A new introduction and an extended outlook section that discusses various «endgames» Responses to criticisms, alternativeviews, and a critical assessment of'solutions'Comments on recent policy trends, including attempts to exit the'easy money'policy mode An evaluation of new crypto-currency Bitcoin Paper Money Collapse: The Folly of Elastic Money, Second Edition clarifies the problem of paper money clearly and eloquently, and proposes multiple routes to a solution.

Издательство: "John Wiley&Sons Limited (USD)"

ISBN: 9781118877333

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Thomas Mayer

Thomas Mayer (* 3. Januar 1954 in Backnang) ist ein deutscher Volkswirt. Seit Januar 2010 ist er Chefvolkswirt der Deutschen Bank und in dieser Eigenschaft Nachfolger von Norbert Walter.[1]



Mayer forschte für seine Promotion von 1978 bis 1982 am Institut für Weltwirtschaft in Kiel. 1982 promovierte er an der Christian-Albrechts-Universität zu Kiel. Zwischen 1983 und 1990 war er in verschiedenen Funktionen beim Internationalen Währungsfonds in Washington tätig. Danach wechselte er in die Privatwirtschaft: zwischen 1990 und 1991 war er für Salomon Brothers tätig, zwischen 1991 und 2002 war er für die Investmentbank Goldman Sachs in London tätig. Seit 2002 trägt er den Titel eines "Chartered-Financial-Analyst". Von 2002 bis 2009 war er "Chief European Economist und Co-Head of Global Economics" der Deutschen Bank in London.

Seit 2009 ist er "Chefvolkswirt" der Deutsche Bank Gruppe und Leiter von "Deutsche Bank Research".

Er hat zahlreiche Artikel zu internationalen und europäischen Wirtschaftsthemen veröffentlicht und in Medien zu diesen Themen Stellung genommen.

Interviews mit Mayer (Auswahl)

  • "Die Euro-Krise wird 2011 weitergehen" - Der Chefvolkswirt der Deutschen Bank, Thomas Mayer, warnt vor Staatspleiten, wackligen Banken und Verlusten für Anleihebesitzer, in: Frankfurter Allgemeine Sonntagszeitung 26. Dezember 2010, Seite 39 (Interviewer: Dyrk Scherff und Christian Siedenbiedel) (ganzseitiges Interview)


  1. http://www.manager-magazin.de/unternehmen/karriere/0,2828,663730,00.html


Источник: Thomas Mayer

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Thomas MayerPaper Money Collapse. The Folly of Elastic MoneyExplore the inevitable collapse of the fiat monetary system Paper Money Collapse: The Folly of Elastic Money, Second Edition challenges the mainstream consensus on money and monetary policy. While it… — @John Wiley&Sons Limited (USD), @ @ @ @ Подробнее...
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