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The Money Problem: Rethinking Financial Regulation by Morgan Ricks: New
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Item specifics
- Condition
- Book Title
- The Money Problem: Rethinking Financial Regulation
- Publication Date
- 2016-03-09
- Pages
- 336
- ISBN
- 9780226330327
- Subject Area
- Business & Economics
- Publication Name
- Money Problem : Rethinking Financial Regulation
- Publisher
- University of Chicago Press
- Item Length
- 0.9 in
- Subject
- Banks & Banking, Economic History, Finance / General, Economics / Macroeconomics, Economics / General, Investments & Securities / General, Money & Monetary Policy
- Publication Year
- 2016
- Type
- Textbook
- Format
- Hardcover
- Language
- English
- Item Height
- 0.1 in
- Item Weight
- 23 Oz
- Item Width
- 0.6 in
- Number of Pages
- 336 Pages
About this product
Product Identifiers
Publisher
University of Chicago Press
ISBN-10
022633032X
ISBN-13
9780226330327
eBay Product ID (ePID)
24038283955
Product Key Features
Number of Pages
336 Pages
Language
English
Publication Name
Money Problem : Rethinking Financial Regulation
Publication Year
2016
Subject
Banks & Banking, Economic History, Finance / General, Economics / Macroeconomics, Economics / General, Investments & Securities / General, Money & Monetary Policy
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
0.1 in
Item Weight
23 Oz
Item Length
0.9 in
Item Width
0.6 in
Additional Product Features
Intended Audience
Scholarly & Professional
LCCN
2015-017766
Reviews
The essence of Ricks's intriguing plan is twofold. First, the government would guarantee all deposits, charging risk-based insurance premia. Second, only regulated banks would be allowed to offer liquid liabilities, defined as debt liabilities with maturity of less than a year. In this way, argues Ricks, government would regain control over money., " The Money Problem is a fresh and insightful analysis of how money and shadow banking are implicated in financial crises and what to do about it. Ricks is intellectually fearless and takes nothing for granted."" The Money Problem is a fresh and insightful analysis of how money and shadow banking are implicated in financial crises and what to do about it. Ricks is intellectually fearless and takes nothing for granted.", Ricks's new book provides a fresh take on the crisis that sharpens our understanding of it. It does so by looking at the design of our monetary system and considering its implications for financial stability. This novel approach is useful not only for thinking about the prevention of future recessions, but also for better understanding what exactly money is., A provocative new book. The Money Problem provides a beacon of light amid the morass of complexity that has come to plague financial institutions, financial markets, and efforts to regulate both., The Money Problem is one of the best financial books of last decade or long. Policy makers should pay attention to Morgan Ricks., In his superb new book, The Money Problem , Ricks meticulously and persuasively argues that financial stability and money creation are two sides of the same coin. Understanding this relationship yields an immensely important policy payoff. By controlling and guaranteeing what counts as money, the government can solve the problem of financial panics, with all their untoward consequences. Ricks proposes several simple reforms to achieve this result. His proposal may seem radical, but he makes a compelling case that it is both feasible and desirable., "Ricks's new book provides a fresh take on the crisis that sharpens our understanding of it. It does so by looking at the design of our monetary system and considering its implications for financial stability. This novel approach is useful not only for thinking about the prevention of future recessions, but also for better understanding what exactly money is." , The Money Problem , by Morgan Ricks, of Vanderbilt Law School, contains another set of proposals that deserve attention. By emphasizing the ways in which legislative charter value can rein in on bankers' appetite for risk, it takes the opposite tack from the emphasis on higher capital requirements that has occupied most of regulators' and legislators' attention until recently., The best book on finance in decades....clearly and sensibly written. It challenges a great deal of orthodoxy very straightforwardly. If you are not a financial regulation junkie, you may not want to tackle The Money Problem , but if you do, you will be rewarded by excellent analysis and clear writing., The Money Problem is in my opinion indispensable in understanding the current debates around financial reform, and is a must-read for anyone seriously interested in money and banking. This book is especially timely given the long-running argument this past year between Bernie Sanders and Hillary Clinton over how to move beyond Dodd-Frank in regulating the financial system. Ricks provides the concepts needed to resolve that and a number other live debates surrounding financial regulation and monetary policy., Ricks offers an original and important contribution to the ongoing policy debate about how 'shadow banks' should be regulated so as to improve financial stability and reduce the risk of another catastrophic breakdown. He proposes a highly original solution that is breathtakingly simple--but also comprehensive and far-reaching. Writing with a lively and engaging style, Ricks presents its points so clearly that anyone, even readers not trained in finance, can understand the arguments. The Money Problem is one of those rare works that combines serious scholarship with a genuinely interesting proposal for fundamental reform, dealing with questions central to the welfare of all., A provocative new book. The Money Problem provides a beacon of light amid the morass of complexity that has come to plague financial institutions, financial markets, and efforts to regulate both., The problem of runnable debt has solutions. One idea comes from Ricks, a former official in the Obama administration's Treasury Department. In his new book, The Money Problem , Ricks argues that the government should drop the pretense that its insurance extends only to $250,000 worth of deposits. Ricks has an even more controversial solution for the risks that shadow banks pose. He proposes banning any financial institution that isn't a bank from issuing runnable liabilities--in other words, he calls for the end of shadow banking....To put it mildly, this would be a big deal., The Money Problem is a terrific book packed with extremely interesting ideas about the foundation of banking and monetary institutions and how their regulation might be reconceptualized. Writing with a clear, direct, and accessible style, Ricks deftly navigates through the often complex terrain and offers an intriguing alternative to current approaches. The Money Problem is due significant attention from legal scholars, economists, and financial experts; it will reshape key discussions on financial regulation for years to come., Ricks has written a fascinating and challenging book that is broadly accessible yet anchored in a deep conceptual understanding of the economics of financial markets, money, and banking. He makes clear that the fundamental fragilities that drive financial crises are similar across episodes, even as the institutional specifics can vary widely. Whether or not you agree with his policy prescriptions, you will come away with a better understanding of the essence of the problem that financial regulation seeks to address., The problem of runnable debt has solutions. One idea comes from Ricks, a former official in the Obama administration's Treasury Department. In his new book, The Money Problem , Ricks argues that the government should drop the pretense that its insurance extends only to $250,000 worth of deposits. Ricks has an even more controversial solution for the risks that shadow banks pose. He proposes banning any financial institution that isn't a bank from issuing runnable liabilities--in other words, he calls for the end of shadow banking....To put it mildly, this would be a big deal., The Money Problem is a fresh and insightful analysis of how money and shadow banking are implicated in financial crises and what to do about it. Ricks is intellectually fearless and takes nothing for granted . , The Money Problem , by Morgan Ricks, of Vanderbilt Law School, contains another set of proposals that deserve attention. By emphasizing the ways in which legislative charter value can rein in on bankers' appetite for risk, it takes the opposite tack from the emphasis on higher capital requirements that has occupied most of regulators' and legislators' attention until recently., Explores how the fragility of the short-term funding markets affects financial-stability policy and how shadow banking functions as a problem of monetary-system design. Presents a blueprint for the modernization of the current monetary architecture. Discusses taking the money market seriously; money creation and market failure; banking in theory and reality; panics and the macroeconomy; a monetary thought experiment; the limits of risk constraints; public support and subsidized finance; the public-private partnership; a more detailed blueprint; and financial reform revisited.
TitleLeading
The
Illustrated
Yes
Table Of Content
Preface Introduction Part 1 Instability 1 Taking the Money Market Seriously 2 Money Creation and Market Failure 3 Banking in Theory and Reality 4 Panics and the Macroeconomy Part 2 Design Alternatives 5 A Monetary Thought Experiment 6 The Limits of Risk Constraints 7 Public Support and Subsidized Finance 8 The Public-Private Partnership Part 3 Money and Sovereignty 9 A More Detailed Blueprint 10 Rethinking Financial Reform Notes References Index
Synopsis
In The Money Problem, Morgan Ricks argues for a reform of the American monetary system. Taking up foundational questions of monetary policy, he asks: how would we construct a monetary system if we were starting from scratch? What are the characteristics of a "monetary" instrument? What do we mean by, and want from, financial stability? Is there a respectable basis for the special legal status of "deposits"? How should we think about the relationship between private money creation and the issuance of money by the state's central bank, and how should the government control the supply of monetary instruments? In answer to these questions, Ricks erects a theoretically elegant institutional design, a new structure of money and banking that emphasizes two core features: First, "private money" (cash-equivalent instruments) would be taken much more seriously and treated as cash deposits by commercial and central banks alike. Monetary instruments must be identified and defined by their function; and should be issued only by a designated class of commercial entities, licensed by the state for this specific purpose. Second, such monetary instruments would then be nondefaultable, formally backed by the sovereign public treasury, as sturdy as a dollar bill. By introducing formal state sponsorship to what was previously private credit, Ricks' design mitigates the risk of catastrophic financial panic., Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a 'public' or 'private' activity--or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem , Morgan Ricks addresses all of these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking--one that, crucially, can be accomplished through incremental changes to the United States' current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad.
LC Classification Number
HG540.R534 2016
Item description from the seller
Seller feedback (525,889)
- e***n (390)- Feedback left by buyer.Past monthVerified purchaseGreat transaction, exactly as described, packed well, and promptly shipped on August 6th. Unfortunately the U.S. Postal Service took 23 calendar days to deliver the book. It was shipped from Pennsylvania, to Atlanta, past Alabama to Texas, enjoyed several days in Texas, then to Minneapolis, Jacksonville, Florida, back to Atlanta, finally to Birmingham, and Huntsville. The seller was very responsive and I decided it was interesting to see if/how the book would arrive. Thanks, Joe
- m***m (2347)- Feedback left by buyer.Past 6 monthsVerified purchaseI’m thrilled with my recent purchase . The website was user-friendly, and the product descriptions were accurate. Customer service was prompt and helpful, answering all my questions. My order arrived quickly, well-packaged, and the product exceeded my expectations in quality. I’m impressed with the attention to detail and the overall experience. I’ll definitely shop here again and highly recommend from this seller to others. Thank you for a fantastic experience!Tobin's Spirit Guide: Official Ghostbusters Edition by Erik Burnham: Used (#404302598631)
- _***b (57)- Feedback left by buyer.Past monthVerified purchaseI gave 5 stars on shipping because i sent 2 separate emails + they responded with helpful info, even though it arrived late. This was a great value with free shipping + the condition is very good, better than advertised 🙂! The overall quality and appearance is excellent! I highly recommend this seller and give them 👍👍👍👍
Seller feedback (525,889)
- e***n (390)- Feedback left by buyer.Past monthVerified purchaseGreat transaction, exactly as described, packed well, and promptly shipped on August 6th. Unfortunately the U.S. Postal Service took 23 calendar days to deliver the book. It was shipped from Pennsylvania, to Atlanta, past Alabama to Texas, enjoyed several days in Texas, then to Minneapolis, Jacksonville, Florida, back to Atlanta, finally to Birmingham, and Huntsville. The seller was very responsive and I decided it was interesting to see if/how the book would arrive. Thanks, Joe
- m***m (2347)- Feedback left by buyer.Past 6 monthsVerified purchaseI’m thrilled with my recent purchase . The website was user-friendly, and the product descriptions were accurate. Customer service was prompt and helpful, answering all my questions. My order arrived quickly, well-packaged, and the product exceeded my expectations in quality. I’m impressed with the attention to detail and the overall experience. I’ll definitely shop here again and highly recommend from this seller to others. Thank you for a fantastic experience!Tobin's Spirit Guide: Official Ghostbusters Edition by Erik Burnham: Used (#404302598631)
- _***b (57)- Feedback left by buyer.Past monthVerified purchaseI gave 5 stars on shipping because i sent 2 separate emails + they responded with helpful info, even though it arrived late. This was a great value with free shipping + the condition is very good, better than advertised 🙂! The overall quality and appearance is excellent! I highly recommend this seller and give them 👍👍👍👍