Business

Money: The Brave New Uncertainty of Mervyn King

nybooks.comThe End of Alchemy: Money, Banking, and the Future of the Global Economy

The Bank of England, founded in 1694, isn’t the oldest central bank in the world, an honor that belongs to Sweden’s Riksbank, founded a quarter-century earlier. But the “Old Lady of Threadneedle Street” arguably invented the art of central banking—the visible hand, operating through the money supply, lending policies, and more—that all modern economies, no matter how much they may talk about free markets, rely on to provide monetary and financial stability.

Paul Krugman

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