The End Of Alchemy PDF Book

Author : Mervyn King
Publisher : W. W. Norton & Company
Release : 2016-03-21
Category : Business & Economics
ISBN : 9780393247039
File Size : 23,8 Mb
Total Download : 733

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Book Summary: “Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

Author : John Kay,Mervyn King
Publisher : W. W. Norton & Company
Release : 2020-03-17
Category : Business & Economics
ISBN : 9781324004783
File Size : 16,8 Mb
Total Download : 828

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Book Summary: Much economic advice is bogus quantification, warn two leading experts in this essential book, now with a preface on COVID-19. Invented numbers offer a false sense of security; we need instead robust narratives that give us the confidence to manage uncertainty. “An elegant and careful guide to thinking about personal and social economics, especially in a time of uncertainty. The timing is impeccable." — Christine Kenneally, New York Times Book Review Some uncertainties are resolvable. The insurance industry’s actuarial tables and the gambler’s roulette wheel both yield to the tools of probability theory. Most situations in life, however, involve a deeper kind of uncertainty, a radical uncertainty for which historical data provide no useful guidance to future outcomes. Radical uncertainty concerns events whose determinants are insufficiently understood for probabilities to be known or forecasting possible. Before President Barack Obama made the fateful decision to send in the Navy Seals, his advisers offered him wildly divergent estimates of the odds that Osama bin Laden would be in the Abbottabad compound. In 2000, no one—not least Steve Jobs—knew what a smartphone was; how could anyone have predicted how many would be sold in 2020? And financial advisers who confidently provide the information required in the standard retirement planning package—what will interest rates, the cost of living, and your state of health be in 2050?—demonstrate only that their advice is worthless. The limits of certainty demonstrate the power of human judgment over artificial intelligence. In most critical decisions there can be no forecasts or probability distributions on which we might sensibly rely. Instead of inventing numbers to fill the gaps in our knowledge, we should adopt business, political, and personal strategies that will be robust to alternative futures and resilient to unpredictable events. Within the security of such a robust and resilient reference narrative, uncertainty can be embraced, because it is the source of creativity, excitement, and profit.

Author : Deborah E. Harkness,Deborah Harkness
Publisher : Cambridge University Press
Release : 1999-11-13
Category : Philosophy
ISBN : 052162228X
File Size : 52,8 Mb
Total Download : 682

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Book Summary: John Dee's angel conversations have been an enigmatic facet of Elizabethan England's most famous natural philosopher's life and work. Professor Harkness contextualizes Dee's angel conversations within the natural philosophical, religious and social contexts of his time philosophy, and the apocalypse, and argues that they represent a continuing development of John Dee's earlier concerns and interests. These conversations include discussions of the natural world, the practice of natural philosophy, and the apocalypse.

Author : Paulo Coelho
Publisher : HarperCollins publishers
Release : 2015
Category : Fiction
ISBN : 0008144222
File Size : 40,8 Mb
Total Download : 836

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Book Summary: A global phenomenon, The Alchemist has been read and loved by over 62 million readers, topping bestseller lists in 74 countries worldwide. Now this magical fable is beautifully repackaged in an edition that lovers of Paulo Coelho will want to treasure forever. Every few decades a book is published that changes the lives of its readers forever. This is such a book - a beautiful parable about learning to listen to your heart, read the omens strewn along life's path and, above all, follow your dreams. Santiago, a young shepherd living in the hills of Andalucia, feels that there is more to life than his humble home and his flock. One day he finds the courage to follow his dreams into distant lands, each step galvanised by the knowledge that he is following the right path: his own. The people he meets along the way, the things he sees and the wisdom he learns are life-changing. With Paulo Coelho's visionary blend of spirituality, magical realism and folklore, The Alchemist is a story with the power to inspire nations and change people's lives.

Author : Leah DeVun
Publisher : Columbia University Press
Release : 2009-03-03
Category : History
ISBN : 9780231519342
File Size : 28,9 Mb
Total Download : 127

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Book Summary: In the middle of the fourteenth century, the Franciscan friar John of Rupescissa sent a dramatic warning to his followers: the last days were coming; the apocalypse was near. Deemed insane by the Christian church, Rupescissa had spent more than a decade confined to prisons in one case wrapped in chains and locked under a staircase yet ill treatment could not silence the friar's apocalyptic message. Religious figures who preached the end times were hardly rare in the late Middle Ages, but Rupescissa's teachings were unique. He claimed that knowledge of the natural world, and alchemy in particular, could act as a defense against the plagues and wars of the last days. His melding of apocalyptic prophecy and quasi-scientific inquiry gave rise to a new genre of alchemical writing and a novel cosmology of heaven and earth. Most important, the friar's research represented a remarkable convergence between science and religion. In order to understand scientific knowledge today, Leah DeVun asks that we revisit Rupescissa's life and the critical events of his age the Black Death, the Hundred Years' War, the Avignon Papacy through his eyes. Rupescissa treated alchemy as medicine (his work was the conceptual forerunner of pharmacology) and represented the emerging technologies and views that sought to combat famine, plague, religious persecution, and war. The advances he pioneered, along with the exciting strides made by his contemporaries, shed critical light on later developments in medicine, pharmacology, and chemistry.

Author : Cathy Cobb,Monty Fetterolf,Harold Goldwhite
Publisher : Prometheus Books
Release : 2014-07-01
Category : Science
ISBN : 9781616149161
File Size : 15,9 Mb
Total Download : 912

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Book Summary: A unique approach to the history of science using do-it-yourself experiments along with brief historical profiles to demonstrate how the ancient alchemists stumbled upon the science of chemistry. Be the alchemist! Explore the legend of alchemy with the science of chemistry. Enjoy over twenty hands-on demonstrations of alchemical reactions. In this exploration of the ancient art of alchemy, three veteran chemists show that the alchemists' quest involved real science and they recount fascinating stories of the sages who performed these strange experiments. Why waste more words on this weird deviation in the evolution of chemistry? As the authors show, the writings of medieval alchemists may seem like the ravings of brain-addled fools, but there is more to the story than that. Recent scholarship has shown that some seemingly nonsensical mysticism is, in fact, decipherable code, and Western European alchemists functioned from a firmer theoretical foundation than previously thought. They had a guiding principle, based on experience: separate and purify materials by fire and reconstitute them into products, including, of course, gold and the universal elixir, the Philosophers' stone. Their efforts were not in vain: by trial, by error, by design, and by persistence, the alchemists discovered acids, alkalis, alcohols, salts, and exquisite, powerful, and vibrant reactions--which can be reproduced using common products, minerals, metals, and salts. So gather your vats and stoke your fires! Get ready to make burning waters, peacocks' tails, Philosophers' stone, and, of course, gold!

Author : Jay Weidner,Vincent Bridges
Publisher : Inner Traditions / Bear & Co
Release : 2003-12-10
Category : Body, Mind & Spirit
ISBN : 089281084X
File Size : 11,8 Mb
Total Download : 735

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Book Summary: Decodes the message held by this enigmatic monument, revealing the alchemical secret of time and the fate of humanity.

Author : Paulo Coelho
Publisher : HarperCollins
Release : 2015-02-24
Category : Fiction
ISBN : 9780062416216
File Size : 19,8 Mb
Total Download : 466

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Book Summary: A special 25th anniversary edition of the extraordinary international bestseller, including a new Foreword by Paulo Coelho. Combining magic, mysticism, wisdom and wonder into an inspiring tale of self-discovery, The Alchemist has become a modern classic, selling millions of copies around the world and transforming the lives of countless readers across generations. Paulo Coelho's masterpiece tells the mystical story of Santiago, an Andalusian shepherd boy who yearns to travel in search of a worldly treasure. His quest will lead him to riches far different—and far more satisfying—than he ever imagined. Santiago's journey teaches us about the essential wisdom of listening to our hearts, of recognizing opportunity and learning to read the omens strewn along life's path, and, most importantly, to follow our dreams.