The End of Alchemy

Description

"The End of Alchemy" by Mervyn King critiques the flaws in the global financial system, particularly fractional reserve banking, and offers proposals for reform. King argues that the traditional methods of central banking are insufficient to prevent future crises and suggests fundamental changes to banking regulation, monetary policy, and financial industry structure. He emphasizes the need for greater resilience, transparency, and accountability in the financial system to ensure stability and prevent systemic risk.