The Death of Money: Difference between revisions
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{{Short description|1993 book by Joel Kurtzman}} |
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| ⚫ | '''''The Death of Money''''' is a book (and an article with the same title) by [[Joel Kurtzman]], a former editor of [[Harvard Business Review]]. Kurtzman uses the "death of money" to refer to a change in the economic nature of [[money]] in the United States following [[Richard Nixon]]'s removal of [[US |
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{{More citations needed|date=October 2024}} |
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{{Infobox book |
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| author = [[Joel Kurtzman]] |
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| isbn = 9780671687991 |
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| pub_date = 1993 |
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| language = English |
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| name = The Death of Money: How the Electronic Economy Has Destabilized the World's Markets and Created Financial Chaos |
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| country = [[United States]] |
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| genre = Economics |
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| publisher = [[Simon & Schuster]] |
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}} |
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{{italic title}} |
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| ⚫ | '''''The Death of Money''''' is a 1993 book<ref>{{Cite book |last=Kurtzman |first=Joel |url=https://books.google.com/books?id=4U4wStLnCy4C&q=the%20death%20of%20money |title=The Death of Money: How the Electronic Economy Has Destabilized the World's Markets and Created Financial Chaos |date=1993 |publisher=Simon & Schuster |isbn=978-0-671-68799-1 |language=en}}</ref> (and an article with the same title) by [[Joel Kurtzman]], a former editor of ''[[Harvard Business Review]]''. Kurtzman uses the "death of money" to refer to a change in the economic nature of [[money]] in the United States following [[Richard Nixon]]'s removal of [[US dollar]] from the [[gold standard]] (as in the [[Bretton Woods system]]), informally referred to as the [[Nixon shock]]. |
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The concept of "death of money" also refers to the fundamental change in the nature of business transactions based on a complex, electronically managed system of valuations used for stocks, bonds, insurance policies, and other financial contracts that go beyond the simple, historic notion of money representing physical reserves. A simple view of this concept is that if everyone decides to cash out their bank account on a single day, there is no longer enough paper money to represent it. |
The concept of "death of money" also refers to the fundamental change in the nature of business transactions based on a complex, electronically managed system of valuations used for stocks, bonds, insurance policies, and other financial contracts that go beyond the simple, historic notion of money representing physical reserves. A simple view of this concept is that if everyone decides to cash out their bank account on a single day, there is no longer enough paper money to represent it. |
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Kurtzman discussed how the new electronic financial economy allows for new trends in [[securitization]] (e.g., the inclusion of [[mortgage-backed securities]] into compound and complex financial instruments), and warned of possible financial reversals. |
Kurtzman discussed how the new electronic financial economy allows for new trends in [[securitization]] (e.g., the inclusion of [[mortgage-backed securities]] into compound and complex financial instruments), and warned of possible financial reversals. |
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==References== |
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{{Reflist}} |
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* Joel Kurtzman, ''The Death of Money'', Harvard Business Review 15(16), 1993. |
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* Joel Kurtzman, 1993 ''The Death of Money'', Simon and Schuster ISBN 0316507377. |
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{{DEFAULTSORT:Death of Money}} |
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[[Category:Monetary economics]] |
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Latest revision as of 10:24, 7 November 2024
 | This article needs additional citations for verification. (October 2024) |
| Author | Joel Kurtzman |
|---|---|
| Language | English |
| Genre | Economics |
| Publisher | Simon & Schuster |
Publication date | 1993 |
| Publication place | United States |
| ISBN | 9780671687991 |
The Death of Money is a 1993 book[1] (and an article with the same title) by Joel Kurtzman, a former editor of Harvard Business Review. Kurtzman uses the "death of money" to refer to a change in the economic nature of money in the United States following Richard Nixon's removal of US dollar from the gold standard (as in the Bretton Woods system), informally referred to as the Nixon shock.
The concept of "death of money" also refers to the fundamental change in the nature of business transactions based on a complex, electronically managed system of valuations used for stocks, bonds, insurance policies, and other financial contracts that go beyond the simple, historic notion of money representing physical reserves. A simple view of this concept is that if everyone decides to cash out their bank account on a single day, there is no longer enough paper money to represent it.
Kurtzman discussed how the new electronic financial economy allows for new trends in securitization (e.g., the inclusion of mortgage-backed securities into compound and complex financial instruments), and warned of possible financial reversals.
References
[edit]- ^ Kurtzman, Joel (1993). The Death of Money: How the Electronic Economy Has Destabilized the World's Markets and Created Financial Chaos. Simon & Schuster. ISBN 978-0-671-68799-1.
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