Cost of Free Money

How Unfettered Capital Threatens Our Economic Future

Subacchi Paola

When it comes to the afflictions of the global economy, almost everyone – and especially Donald Trump – is quick to point the finger of blame at the state of international trade. But what about unconstrained capital flows? Unfettered capital has resulted in a string of financial and economic crises that have left our political systems strained and dialogue corroded. The once perceived benefits of openness have been cast to the wayside and the cracks in the global order can no longer be ignored.

Paola Subacchi argues that international cooperation and interdependence have become crippled. Regional restrictions will soon strengthen and a multipolar order will take shape, leading to a distinctly transformed economic landscape in which China challenges the dominance of the US dollar. Combining history, analysis, and prediction, this book provides penetrating insight into the challenges facing the international economic order.

About the Author

Paola Subacchi is an economist and writer. She is professor of international economics and chair of the advisory board of the Global Policy Institute at Queen Mary University of London. Subacchi is the author of "The People's Money". She lives in London.

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