Business Books

Banking (and money) is alchemy – Mervyn King (ex-Gov of the Bank of England)

The Money Show’s Bruce Whitfield interviewed former Governor of the Bank of England Mervyn King for his weekly business book review.

King spoke about his new book entitled “The End of Alchemy - Banking, the Global Economy and the Future of Money”.

Unlike aeroplane crashes, financial crises have become more, not less frequent.

Mervyn King, former Governor of the Bank of England

Description on Amazon:

The past 20 years saw unprecedented growth and stability, followed by the worst financial crisis the industrialised world has ever witnessed.

In the space of little more than a year what had been seen as the age of wisdom was viewed as the age of foolishness.

Almost overnight, belief turned into incredulity.

Most accounts of the recent crisis focus on the symptoms and not the underlying causes of what went wrong.

But those events, vivid though they remain in our memories, comprised only the latest in a long series of financial crises since our present system of commerce became the cornerstone of modern capitalism.

The End of Alchemy” explains why, ultimately, this was, and remains, a crisis not of banking (even if we need to reform the banking system) nor of policy-making (even if mistakes were made) - but of ideas.

In this refreshing, and vitally important book, former governor of the Bank of England Mervyn King - an actor in this drama - proposes revolutionary new concepts to answer the central question:

Are money and banking a form of alchemy or are they the Achilles heel of a modern capitalist economy?

Listen to the audio for more detail.

Subscribe to our Business Wrap Newsletter


Read More
Justin Bieber and Kim Kardashian (also Stalin, Chairman Mao) messed up the world

Justin Bieber and Kim Kardashian (also Stalin, Chairman Mao) messed up the world

Bruce Whitfield interviews Alexander Parker, author of “50 People Who Messed Up the World”.

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Why 96% of small businesses fail (and what to do about it)

Why 96% of small businesses fail (and what to do about it)

The Money Show’s Bruce Whitfield interviews Raiz Corp CEO Allon Raiz who reviews “The E-Myth Revisited” by Michael E. Gerber.

SA’s public finances recovered spectacularly after ’94. We’re back on the brink…

SA’s public finances recovered spectacularly after ’94. We’re back on the brink…

Financial Mail's Claire Bisseker discusses her book “On the Brink: South Africa’s Political and Fiscal Cliff-Hanger”.

Principles that lead to success (by Ray Dalio, the ‘Steve Jobs of investing’)

Principles that lead to success (by Ray Dalio, the ‘Steve Jobs of investing’)

Regular book reviewer Ian Mann reviews “Principles” by Ray Dalio, a "business" book you can live your life by.

Popular articles
Oscar's family unhappy with producers as movie makes SA debut this weekend

Oscar's family unhappy with producers as movie makes SA debut this weekend

The movie stars Joburg-born actor Andreas Damm as Pistorius and Victoria Secret model Toni Garrn as Reeva Steenkamp.

MiCasa releases 2 minute shower song to save water

MiCasa releases 2 minute shower song to save water

Sanlam has challenged 10 of SA's biggest artists to remix their top selling songs into two minutes.

Statement to remove LLB programme from SA universities is misleading: Max Price

Statement to remove LLB programme from SA universities is misleading: Max Price

Max Price says Council on Higher Education's announcement that UKZN, UCT and UL could lose their LLB accreditation is not right.

[LISTEN] Retired Zimbabwean colonel shares his perspective on current 'coup'

[LISTEN] Retired Zimbabwean colonel shares his perspective on current 'coup'

Stephen speaks to Retired Lieutenant Colonel Martin Rupiya .

Is taking items from the hotel room stealing?

Is taking items from the hotel room stealing?

Tsogo Sun Cape regional manager explains which items are free to be taken home by guests and why.

WATCH: Innovative spray limits toilet flushes and saves water

WATCH: Innovative spray limits toilet flushes and saves water

Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.