New book by Satyajit Das

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Satya­jit Das, the author of Traders, Guns, and Mon­ey, has just released a new book — Extreme Mon­ey: The Mas­ters of the Uni­verse and the Cult of Risk. Satya­jit is the gen­uine insid­er-turned-informer: some­one who actu­al­ly designed, under­stood and trad­ed the com­plex CDOs and so on that helped make the world econ­o­my what it is today. As a per­son with the intel­li­gence to know that what the finance sec­tor was ask­ing math­e­mat­i­cal­ly gift­ed indi­vid­u­als like him to design, and the ethics to find this appalling, he “jumped” ship long ago, and is now one of the best crit­ics of the finan­cial sec­tor alive today.

His new book is on my read­ing list, and I’ll dive into it when I return from the launch of Debunk­ing Eco­nom­ics II–which is tak­ing place next Tues­day at the Uni­ver­si­ty Col­lege Lon­don. Hav­ing read the first, I can hearti­ly rec­om­mend it to peo­ple who find my analy­sis of val­ue. Satyajit–Das to his Cau­casian friends like me who can nev­er prop­er­ly pro­nounce his name–brings what I can’t, an insid­er’s per­spec­tive on this whole sor­ry mess, and has a delight­ful writ­ing style.

For those of you who live in Syd­ney, Dat will be doing an “event” with Phillip Adams (the vet­er­an broad­cast­er and host of ABC’s Late Night Live) at Glee­Books on Tues­day 25 Octo­ber 2011 around 600 p.m. If you are inter­est­ed in lis­ten­ing to ideas far more dar­ing and dan­ger­ous than at the Syd­ney Fes­ti­val of Dan­ger­ous Ideas — “you will nev­er be able to retire”; “liv­ing stan­dards will fall sig­nif­i­cant­ly”; “Amer­i­ca and Chi­na will become iso­la­tion­ist”; “the Arab Spring will turn into a night­mare” etc — then an inter­est­ing evening is in prospect.

I’ll be there, and I hope to see many of the Syd­ney-based read­ers of Debt­watch in the audi­ence as well.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.