The Death of Money

The Death of Money
The Money Changer by Rembrandt, 1627.

The Death of Money is a 1993 book (and an article with the same title) by Joel Kurtzman, a former editor of Harvard Business Review. Kurtzman uses the "death of money" to refer to a change in the economic nature of money in the United States following Richard Nixon's removal of US dollar from the gold standard (as in the Bretton Woods system), informally referred to as the Nixon shock.

The concept of "death of money" also refers to the fundamental change in the nature of business transactions based on a complex, electronically managed system of valuations used for stocks, bonds, insurance policies, and other financial contracts that go beyond the simple, historic notion of money representing physical reserves. A simple view of this concept is that if everyone decides to cash out their bank account on a single day, there is no longer enough paper money to represent it.

Kurtzman discussed how the new electronic financial economy allows for new trends in securitization (e.g., the inclusion of mortgage-backed securities into compound and complex financial instruments), and warned of possible financial reversals.

Sources

  • Joel Kurtzman, The Death of Money, Harvard Business Review 15(16), 1993.
  • Joel Kurtzman, 1993 The Death of Money, Simon and Schuster ISBN 0316507377.



Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • The Death of Abu Nowas and of his Wife — is a Tunisian fairy tale collected in Tunische Märchen . Andrew Lang included it in The Crimson Fairy Book .ynopsisAbu Nowas was a favorite of the Sultan s. When his wife died, the Sultan told the Sultana they must find him another. The Sultana… …   Wikipedia

  • The Death of Actaeon — Artist Titian Year c.1559 1575 Type Oil on canvas Dimensions 178.4 cm × 198.1 cm …   Wikipedia

  • The Downfall and The Death of Robert Earl of Huntington — The Downfall of Robert Earl of Huntington [Anthony Munday, The Downfall of Robert Earl of Huntington , John C. Meagher, ed., Malone Society, Oxford University Press, 1965.] and The Death of Robert Earl of Huntington [Anthony Munday, The Death of… …   Wikipedia

  • The Death of Poe — Directed by Mark Redfield Produced by Stuart Voytilla Mark Redfield …   Wikipedia

  • The Death of Achilles — infobox Book | name = The Death of Achilles title orig = Смерть Ахиллеса translator = Andrew Bromfield image caption = Recent Russian language edition author = Boris Akunin cover artist = country = Russia language = Russian series = Erast… …   Wikipedia

  • The Death of Poe (film) — Infobox Film name = The Death of Poe caption = director = Mark Redfield producer = Stuart Voytilla Mark Redfield writer = Stuart Voytilla Mark Redfield narrator = starring = Mark Redfield Kevin G. Shinnick Jennifer Rouse Tony Tsendeas music =… …   Wikipedia

  • National Coalition to Abolish the Death Penalty — The National Coalition to Abolish the Death Penalty (NCADP) is a large organization dedicated to the abolition of the death penalty in the United States. Founded in 1976 (the same year the death penalty was reinstated by the Supreme Court of the… …   Wikipedia

  • A Day in the Death of Donny B — Infobox Film name = Day in the Death of Donny B, A image size= 175px director = Carl Fick producer = Louis Mucciolo (II) writer = Carl Fick distributor = Terpsichore Collection Inc. (2008 DVD) released = 1969, 2008 (re release) runtime = 14 mins… …   Wikipedia

  • Twitch of the Death Nerve — Infobox Film name = Twitch of the Death Nerve caption = DVD Cover for American release of Twitch of the Death Nerve director = Mario Bava producer = Giuseppe Zaccariello writer = Mario Bava Giuseppe Zaccariello Filippo Ottoni Sergio Canevari… …   Wikipedia

  • Day of the Death — Studio album by Death by Stereo Released January 23, 2001 Recorded …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”