作者:
Eswar S. Prasad 出版社: Harvard University Press 副标题: How the Digital Revolution Is Transforming Currencies and Finance 出版年: 2021-9 页数: 446 装帧: Hardcover ISBN: 9780674258440
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse.
We think we’ve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and ...
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse.
We think we’ve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar S. Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live.
Above all, Prasad foresees the end of physical cash. The driving force won’t be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk.
Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
作者简介
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Eswar S. Prasad is the Tolani Senior Professor of Trade Policy and Professor of Economics at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a research associate at the National Bureau of Economic Research. He is the author of Gaining Currency: The Rise of the Renminbi and The Doll...
Eswar S. Prasad is the Tolani Senior Professor of Trade Policy and Professor of Economics at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a research associate at the National Bureau of Economic Research. He is the author of Gaining Currency: The Rise of the Renminbi and The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance.
目录
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I. Laying the Bedrock
1. Racing to the Future
2. Money and Finance: The Basics
II. Innovations
3. Will Fintech Make the World a Better Place?
4. Bitcoin Sets Off a Revolution, Then Falters
· · · · · ·
(更多)
I. Laying the Bedrock
1. Racing to the Future
2. Money and Finance: The Basics
II. Innovations
3. Will Fintech Make the World a Better Place?
4. Bitcoin Sets Off a Revolution, Then Falters
5. Crypto Mania
III. Central Bank Money
6. The Case for Central Bank Digital Currencies
7. Getting Central Bank Digital Currencies Off the Ground
IV. Ramifications
8. Consequences for the International Monetary System
9. Central Banks Run the Gauntlet
10. A Glorious Future Beckons, Perhaps
Notes
References
Acknowledgments
Credits
Index
· · · · · · (收起)
原文摘录
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It claims that, as of June 2020, it had identified over eighteen hundred Bitcoin whales, entities that hold at least one thousand bitcoins each. These whales collectively accounted for about 30 percent of outstanding bitcoins at the time. This suggests the potential for market manipulation by a relatively small group. Encouragingly, the consolidated share of the whales has been falling since 2011–2012, when their share of the Bitcoin market was over 50 percent.
With its massive market capitalization and popularity, Bitcoin is perhaps less subject to manipulation. But for second-string cryptocurrencies—with lower market capitalizations, fewer holders, and thinly traded markets—there is a serious risk of manipulation by large investors, a handful of whom could engage in collusive behavior t... (查看原文)
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中译出版社2022版
0 有用 Fiona 2022-03-30 01:08:53
btc的去中心化、透明交易这些理想虽然很美好，但是没有底层依靠、算法机制导致的高交易成本以及无法真正做到匿名交易这些可谓是很骨干的现实了。我觉得crytocurrency可以比喻成抵御fiat money default的期权。前两章不用太细看，btc几章说得挺清晰的。
2 有用 hx 2021-12-28 15:07:39
又长又臭
0 有用 John-risktaker 2021-12-30 09:37:25
之前的评论豆瓣说我内容不合适，我也不是很清楚。反正这本书挺好的，这个领域Uhlig在seminar说过每个经济phd在研究货币经济学时都要了解一下。
0 有用 Nova 2022-01-17 11:24:46
非常全面细致地梳理了纸钞/数字货币的点点滴滴，算是了解货币政策的科普读物了吧
0 有用 目送飞鸿 2023-06-04 22:00:26 浙江
这本书从去年读到今年，实在是太啰嗦了