Masters of the Universe and the Cult of RiskBook - 2011
The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth--while endangering the jobs, possessions, and futures of virtually everyone outside finance.
"...virtually in a category of its own — part history, part book of financial quotations, part cautionary tale, part textbook. It contains some of the clearest charts about risk transfer you will find anywhere. ...Others have laid out the dire consequences of financialisation ("the conversion of everything into monetary form", in Das’s phrase), but few have done it with a wider or more entertaining range of references...[Extreme Money] does... reach an important, if worrying, conclusion: financialisation may be too deep-rooted to be torn out. As Das puts it — characteristically borrowing a line from a movie, Inception — "the hardest virus to kill is an idea".
-Andrew Hill "Eclectic Guide to the Excesses of the Crisis" Financial Times (August 17, 2011)
Extreme Money named to the longlist for the 2011 FT and Goldman Sachs Business Book of the Year award.
In prescient speeches he gave on "The Coming Credit Crash," Das, an international consultant to financial institutions and corporations, provided insights into the problematic structure and risks of the global financial system. In an analysis drawing on the ideas of philosophers as well as economists, Das critiques the "financialization" of everyday life behind such recent trends as the housing boom-and-bust, "casino banking," the "doomsday debt machine," and "botox economics." Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)