Broken Money Why Our Financial System is Failing Us and How We Can Make it Better 1st Edition by Lyn Alden ISBN 9798988666301

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ISBN 10: 
ISBN 13: 9798988666301
Author: Lyn Alden

A Comprehensive Overview of the Past, Present, and Future of Money**
__Broken Money__ explores the history of money through the lens of technology. Politics can affect things temporarily and locally, but technology is what drives things forward globally and permanently. The book’s goal is for the reader to walk away with a deep understanding of money and monetary history, both in terms of theoretical foundations and in terms of practical implications.
From shells to gold, from papyrus bills of exchange to central banks, and from the invention of the telegraph to the creation of Bitcoin, Lyn Alden walks the reader through the emergence of new technologies that have shaped what we use as money over the ages. And beyond that, Alden explores the concept of what money is at its very foundation to give the reader a framework to analyze and compare different types of monetary technologies and monetary theories.
The book also takes a distinctively human look at how money impacts the lives of real people, and how new monetary technologies shape the power structures within society.
In the modern era, energy abundance and technological enhancements have broadly improved human well-being, but the global monetary system has been slow to keep up. There are over 160 active currencies in the world, each with a local monopoly over its own country, and with little or no acceptance elsewhere. Many of them are rapidly diluted, which continually devalues the savings and the wages of the billions of people who live and work within those jurisdictions. Being born in the “wrong” country makes saving money far harder than it needs to be.
Nigeria has a population of over 200 million people and has averaged 13% annualized inflation over the past decade. Egypt cut its currency in half relative to the dollar twice over the past decade, which instantly devalued the savings and wages of its 100 million citizens. Dozens of countries have experienced at least triple-digit year-over-year inflation within the past four decades, including Brazil that outright hyperinflated in the 1990s while it was the fifth most populous country in the world.
Europe and Japan had $18 trillion worth of negative-yielding bonds in 2019, right before a wave of inflation wiped their purchasing power away. In 2021, the chairman of the U.S. Federal Reserve dismissed the idea that the sharp rise in the money supply from the pandemic stimulus would lead to price inflation. By 2022, as major inflation emerged, the chairman rapidly changed his outlook and tightened monetary policy so quickly that it led to the failure of some of the largest banks in the country.
How did we get to this point? Why isn’t our money better than this in the 21st century? __Broken Money__ answers these questions by examining the current mix of technology that has led to these limitations, and then explores emerging technologies that may be able to provide us with a monetary system that is fit for the modern era.

Broken Money Why Our Financial System is Failing Us and How We Can Make it Better 1st Edition Table of contents:

• Chapter 1: The Evolution of Money

  • The Origins of Money: From Barter to Coins and Paper
  • The Rise of Central Banking: How We Got Here
  • The Role of Money in the Economy: A Double-Edged Sword

• Chapter 2: Central Banking and the Fiat Currency System

  • The Birth of Fiat Money: Decoupling from Gold and Commodity Standards
  • How Central Banks Control the Economy: Interest Rates and Monetary Policy
  • The Risks of Centralized Control: Inflation, Deflation, and Economic Crises

• Chapter 3: The Mechanics of Financial Crises

  • The Cyclical Nature of Financial Crises: Boom and Bust
  • Case Studies: The Great Depression, the 2008 Financial Crisis, and the COVID-19 Fallout
  • How Crises Impact Ordinary People: The Wealth Divide and Social Consequences

• Chapter 4: Why the Current System is Failing

  • The Perils of Debt: National Debt, Corporate Debt, and Consumer Debt
  • Economic Inequality: The Role of Money in Exacerbating Wealth Gaps
  • The Inflation Problem: Why Prices Keep Rising and How It Hurts the Middle Class

• Chapter 5: The Impact of Money Printing

  • The Growth of the Money Supply: How Governments Print More Money
  • The Hidden Tax of Inflation: How Everyday Citizens Are Affected
  • The Danger of Hyperinflation: Lessons from History

• Chapter 6: Financialization of the Economy

  • The Shift from Manufacturing to Financial Markets
  • Speculation vs. Investment: The Changing Nature of Wealth Creation
  • How Financialization Has Altered Economic Stability and Growth

• Chapter 7: Cryptocurrencies and the Future of Money

  • The Rise of Bitcoin and Other Digital Currencies
  • The Promise of Decentralization: Can Cryptocurrencies Offer a Better System?
  • Challenges to Widespread Adoption: Regulation, Volatility, and Scaling

• Chapter 8: Alternative Financial Systems

  • Local Currencies and Community-Based Economies
  • The Case for a Gold Standard: Is It Time to Return to Sound Money?
  • Exploring Other Ideas: Digital Currencies, Central Bank Digital Currencies (CBDCs), and the Role of Blockchain

• Chapter 9: Reforming the Financial System

  • Key Principles for Reform: Stability, Transparency, and Inclusivity
  • How to Fix Central Banking: Addressing the Conflicts of Interest
  • A New Vision for Economic Growth: Investing in People, Not Speculation

• Chapter 10: The Role of Individuals in Fixing the System

  • Financial Literacy: Understanding Money, Debt, and Investments
  • Personal Responsibility: How Individuals Can Protect Themselves in a Broken System
  • The Power of Collective Action: How Small Changes Can Lead to Big Results

• Chapter 11: A Roadmap for Change

  • Policy Proposals for Reform: From Fiscal to Monetary Changes
  • The Path Toward a More Resilient Financial System
  • Rebuilding Trust in Money: Restoring Faith in the Financial System

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