For me Lonergan’s Money remains the best very short&slim moneybook. But as the unsually polarised goodread reviews sugggest, this book is best read at just the right time on one’s money learning curve. Conceptually he covers more than one may have bargained for in just 150 pages but Lonergan manages to weave his unorthodox telling of orthodoxies into a surprisingly comprehensive “PraxisTheorie des Geldes”? (>Aaron Sahr ?)
reviews of “Money”
“Things they don’t tell you at Davos: a deposit in a bank is an unbacked loan to a highly leveraged financial institution; quantitative easing is the cancellation of government debt; and the secret to ending a recession is to stop funnelling money through banks and simply give it to people to spend, especially poor people. If you like your economic shibboleths stabbed through the heart, roasted and served medium rare with a side of cold hard logic, you should read Eric Lonergan’s Money. You will see not only money, but the whole economic process, in a new light. For anyone who has ever wondered what money actually is and how it works this book is quite simply the place to both start and finish.”
Mark Blyth, Professor of Political Economy at Brown University, and author of Austerity: The History of a Dangerous Idea
“Eric Lonergan’s elegantly-written and thought-provoking polemic on the nature of money is a must-read for anyone interested in politics or economics.” – Philip Coggan, author of Paper Promises
Eric Lonergan is a hedge fund manager at M&G Investments, and also publishes the “Philosophy of Money” web site. He first published the book “Money” in 2009, and has since updated to a Second Edition in 2014. I recently commented on some of his ideas on money in earlier article. Although his discussion of money do not match my “Chartalist” viewpoint, I found that the substantive differences are small, and the book itself is an interesting and a worthwhile read.