An Investment Banker Calls for the End of Banking: New Book Released by Zero/One Economics

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The independent European publisher Zero/One Economics today launches “The End of Banking: Money, Credit, and the Digital Revolution.” Written by an investment banker and an academic macroeconomist, this book has been highly praised for its innovative perspective on the financial crisis of 2007–08.

The End of Banking: Available now

“We can do better than banking” is the key message of the book written by an investment banker and an economist.

“thought provoking, bold, and visionary” (Foreword Reviews)

Zero/One Economics today launches its global campaign for “The End of Banking: Money, Credit, and the Digital Revolution.” The book does not rehash the same old solutions to our troubled financial system, be they regulatory patches or radical reforms. Instead it lays out a simple new idea which will bring our financial system into the digital age. “We can do better than banking” is the key message of the book.

“The End of Banking” transforms our understanding of the financial system. Barry Silverstein from Foreword Reviews described the book as “thought provoking, bold and visionary” that makes “a compelling case for sweeping changes.” Izabella Kaminska from the Financial Times Alphaville strongly advocated the book, dedicating a long article to it.

The insights within “The End of Banking” reflect the author’s complementary expertise. One author has worked in the investment banking division of a large global bank in the financial hubs of Zurich, London, and New York. (To avoid conflicts with his employer, the book is published under the pseudonym of Jonathan McMillan.) The other author has worked in academia, holding an MPhil in economics from the University of Cambridge and a PhD in economics from the Swiss Federal Institute of Technology, ETH Zurich.

Resting both on real-world financial experience and academic rigor, the “End of Banking” distinguishes itself from other books about the financial crisis of 2007–08. First, it reveals the deep commonalities shared by all forms of banking—from medieval goldsmiths to today's investment bankers. Second, it offers a lucid and accessible account of shadow banking. Third, and critically, it illuminates the root cause of today's banking problems and presents a solution that stands out against existing reform proposals.

“The End of Banking will be considered controversial. Yet, all arguments are conclusive and underscored with academic references,” stated a director of Zero/One Economics. “Financial and academic experts confirmed that this book should be taken very seriously. Moreover, the two authors have managed to present a rather technical topic in a way that it is just a pleasure to read. We are all very excited and hope the authors will succeed in sparking a debate on fundamental financial reform.”

“The End of Banking: Money, Credit, and the Digital Revolution”
2014 by Jonathan McMillan
Hardcover | List Price: $28.95 | 5.5 x 8.5in | 248 pages | ISBN 978-3-9524385-0-3
Softcover | List Price: $ 15.95 | 5.5 x 8.5in | 248 pages | ISBN 978-3-9524385-1-0
E-Book (epub) | Not yet published | ISBN 978-3-9524385-2-7
E-Book (Kindle) | Not yet published| ISBN 978-3-9524385-3-4
http://www.endofbanking.org

Zero/One Economics is a small and independent publisher for authors who develop unconventional ideas in business, economics, and finance. Their headquarters is located in Switzerland. If you want to know more about this title, please contact Juerg Mueller of Zero/One Economics at +41 (0)76 454 99 81 or send him an email to juerg.mueller(at)01economics(dot)com

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Jürg Müller
@EndOfBanking
since: 06/2014
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