How can we prevent another financial crisis? In the End of Alchemy, Mervyn King presents new ideas to fix finance. The proposals of the former central banker are surprisingly ill-designed.
“Without reform of the financial system, another crisis is certain.” This sounds like a statement from one of the numerous doom and gloom prophets. But no, you find these words in The End of Alchemy: Money, Banking, and the Future of the Global Economy. The author of the book is Mervyn King, known as the governor of the Bank of England who handled the financial crisis of 2007-08.