“This fine book succeeds very nicely at its stated task: to explain the standard macroeconomic theory used by central banks around the world without equations. This book is complex and sophisticated, yet clearly and transparently written. The author is honest concerning the weaknesses of this model, but confident that most can be overcome in the future. If you have heard the chorus of critics since the financial crisis of 2008, and if you are serious about understanding the issues, this is a good place to start.”--—Herbert Gintis, Santa Fe Institute
"Finance and its regulation are controversial, and nowhere are they more controversial than in Asia. But no one can claim more experience and knowledge of the controversy than Yung Chul Park and Hugh Patrick. This volume will be of equal interest to China, Japan, and Korea specialists, and general readers alike." — Barry Eichengreen, University of California, Berkeley
The researchers who have contributed to the volume were asked to look at the monetary and financial history of the last 50 years, and to summarise the most important trends and experiences and to then draw conclusions for the future. The volume is a free download.