The Price of Time: The Real Story of Interest

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Product Details
$28.00  $26.04
Atlantic Monthly Press
Publish Date
5.8 X 9.1 X 1.7 inches | 1.4 pounds
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About the Author
EDWARD CHANCELLOR is the author of Devil Take the Hindmost: A History of Financial Speculation, a New York Times "Notable Book of the Year" and the specialist report Crunch-Time for Credit?, a prescient analysis of the credit boom in the US and UK. Chancellor has also edited two investment books, Capital Account and Capital Returns. An award-winning financial journalist, Chancellor is currently a columnist for Reuters Breakingviews, and has contributed to many other publications, including the Wall Street Journal, MoneyWeek, New York Review of Books, and Financial Times.
Praise for The Price of Time: "Interest rates haven't simply fallen--they were pushed. And by their pushing, the world's central banks have constructed the hall of mirrors in which every investor has become, of necessity, a speculator. So argues Edward Chancellor in this brilliant chronicle of the most important prices in capitalism. You must read it. It is a masterpiece of history, analysis--and properly understated outrage."--James Grant, editor of Grant's Interest Rate Observer"I wish The Price of Time were the book that I had written. I am reminded of Keynes's letter to Hayek after reading The Road to Serfdom where he said 'In my opinion it is a grand book. We all have the greatest reason to be thankful to you for saying so well what needs so much to be said. I find myself in agreement with virtually the whole of it, and not only in agreement but in a deeply moved agreement.'"--William White, former Chief Economist, Bank for International Settlements"Is it possible to write a highly engaging history of the world going back to Hammurabi, unfolding along the way a bitingly comprehensive explanation for its problems today, all told through a single character? Apparently yes. Edward Chancellor has done it, an achievement all the more notable since his drama is built around a character so unheroic on its surface: his 'price of time' is interest rates. This is a timely, vitally important and hugely readable book."--Ruchir Sharma, Chairman, Rockefeller International and New York Times-bestselling author"Chancellor provides a different, more compelling, and more
frightening explanation of the world's slowing economies: central banks' now
decades-long love affair with artificially low interest rates . . . One of the
book's joys is its relevance to both political policy and personal finance . . .
Chancellor's encyclopedic grasp of economic history shines through on nearly
every page . . . Besides being a first-rate economic historian, Chancellor is
also a master wordsmith; almost unique among serious finance books, The Price
of Time
serves well as bedtime reading." --William J. Bernstein, author of A
Splendid Exchange,
in Enterprising Investor
"Edward Chancellor has produced not just a brilliant explainer of the value of money and time but a hugely engaging history of the greatest problem confronting markets today. The Price of Time is a must read--a copy should be on the desk of everyone who has anything to do with financial markets or wondered why things work as they do."--Merryn Somerset Webb, Editor-in-Chief, MoneyWeek"Chancellor has done the nearly impossible: He has made a
potentially dreary topic--interest rates--into a witty, philosophical and
highly entertaining story crammed with historical anecdotes starting with the
Babylonians and ending yesterday." --Jeremy Grantham, Founder and Chief Investment Strategist,
"I'm not sure I've ever read a book on finance where I
have agreed with all of it but that time has now come." --Russell Napier, investment strategist and author of The
Anatomy of the Bear

Praise for Edward Chancellor

"Entertaining, useful, admirable . . . Chancellor seems to have read everything."
--New York Times Book Review, on Devil Take the Hindmost

"[Edward Chancellor is] one of the great financial writers of our era."
--Financial Analysts Journal, on Capital Account