Author Description

"What is money? Who controls the Fed? How does the stock market work? What are hedge funds and private-equity firms? What is debt? How does retirement finance work? Real world banking and finance provides lively answers to these and many other important questions. This clearly written, carefully researched anthology is an excellent supplementary text for introductory courses on money and banking. [This book] helps students understand interest rates, the stock and bond markets, currencies and exchange rates, financial derivatives, global financial institutions, retirement finance, mortgages and the housing market, regulatory reform, predatory lending, and much more. The thoroughly updated eighth edition includes brand-new articles on cryptocurrencies, the Fed's response to the coronavirus crisis, the movement for public banking, and much more. Two new chapters explore financialization and the effects of financialization on the rest of the economy."--Back cover.