The Cost of Free Money: How Unfettered Capital Threatens Our Economic Future (Hardcover) (ISBN-13: 9780300244045)

A penetrating account of how unchecked capital mobility is damaging international cooperation, polarizing the economic landscape, and ultimately reshaping the global order

"An expert on global financial and monetary systems . . . lucidly describes the failings of the international monetary 'non-system' that emerged after the collapse of the Bretton Woods system in the 1970s."--Martin Wolf, Financial Times "Best Books of 2020: Economics"

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.

Author: Paola Subacchi
ISBN-10: 0300244045
ISBN-13: 9780300244045
Publisher: Yale University Press
Language: English
Published: 09/15/2020
Pages: 320
Format: Hardcover
Weight: 1.55lbs
Size: 9.30h x 6.40w x 1.30d

Review Citation(s):
Choice 12/01/2021