The book is intended as an accessible and provocative text for professionals as well as an introduction to the subject for generalist readers who require or would like to gain an insight into the functioning of the system. The book is divided into three parts: 1) The recent history and the financial crisis, including hot topics such as derivatives, high frequency trading, and investment banking. This section in particular is written from the perspective of a successful practitioner and tries to provide clarity on some complex and very politicized elements of the banking system. 2) The debt market, monetary policies and quantitative easing, this part helps explain the impact of and the different issues surrounding sovereign debt, the Euro crisis, and austerity versus growth policies. 3) Analysis of investment styles, from hedge funds to long only investments, corporate communication and its impact on markets and investments, mistakes and frequent questions and answers regarding investment.
A straightforward, modern, and comprehensive approach to our economy that encourages saving, investment, and innovation-leveraging capitalism's benefits to improve opportunities for everyone rather than a select few.
Capitalism offers greater prosperity and opportunity for everyone, while socialism, unnecessary interventionism, and other choices inevitably fail. But capitalism is quickly falling out of favor with the middle class in the Western world.
Fortunately, it can be fixed.
The next decades will present numerous challenges: exponentially accelerating technology and use of robots, an aging population, repressive taxation, and the sustainability of education and health care costs-to name just a few. Freedom or Equality addresses those challenges while presenting a fresh examination of Social Capitalism-a moderate option between extreme solutions of all sorts that can deliver superior growth and prosperity worldwide.
Los medios de comunicación y muchos políticos han llamado 'política monetaria no convencional' a las medidas adoptadas por los bancos centrales para salir de la crisis. Pero se trata de un concepto engañoso, porque en realidad lo que han hecho es lo mismo que siempre se ha hecho: intentar solventar desequilibrios estructurales con medidas inflacionistas. O, como más gráficamente dice Lacalle en este libro: 'Crear dinero del aire'. Pero una crisis de alto endeudamiento y exceso de riesgo no se soluciona aumentando el endeudamiento e incentivando el mismo riesgo.
La gran trampa es un libro crítico con bancos centrales, políticos y todos los que han dirigido una salida de la crisis que nos puede llevar a otra, porque si la última burbuja fue la de la vivienda, es posible que ahora estemos viviendo la burbuja de los bonos. Pero, al mismo tiempo, es un libro que ofrece soluciones proponiendo medidas para cimentar la credibilidad y evitar los enormes riesgos a los que se enfrentan nuestras economías.
Grabado en español ibérico (España).
