The End of Alchemy

"Alchemy" by Mervyn King explores the underlying ideas that have contributed to financial crises throughout modern history, including the recent economic downturn. The book challenges conventional views by suggesting that the core issue lies in the conceptual foundation of money and banking, rather than solely in banking practices or policy mistakes. As a former governor of the Bank of England, King offers revolutionary perspectives on the nature of modern capitalism and the role of financial ideas.