I.O.U. : Why Everyone Owes Everyone and No One Can Pay

3.99 (1,767 ratings by Goodreads)
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For most people, the reasons for the sudden collapse of our economy still remain obscure. I.O.U. is the story of how we came to experience such a complete financial disaster, starting with the magical proliferation of credit that led to an explosion of lending on the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history--from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages--Lanchester deftly draws conclusions on the limitations of financial and governmental regulation, capitalism's deepest flaw, and most important, on the plain and simple facts of human nature where cash is concerned. With newly updated, superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for expert and casual reader alike. Part economic primer, part fiscal and historical analysis, I.O.U. is an eye-opener of a book.show more

Product details

  • Paperback | 278 pages
  • 140 x 216 x 14mm | 240.4g
  • New York, NY, United States
  • English
  • Reprint
  • black & white tables
  • 1439169861
  • 9781439169865
  • 241,287

Review quote

"Lanchester understands perfectly that the man behind the curtain was no wizard-that markets, far from being God-given instruments of perfection, were human constructs. ...[He] is adept at explicating financial complexities with street level analogies."-Roger Lowenstein, NewRepublic.comshow more

Review Text

"Lanchester's book is also noteworthy for a splendid choice of language and metaphor not usually found in writing on economics and finance...All economic writing should be so evocative." - Benjamin M. Friedman, The New York Review of Booksshow more

Rating details

1,767 ratings
3.99 out of 5 stars
5 30% (536)
4 45% (797)
3 19% (338)
2 4% (77)
1 1% (19)
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