The Death of Money
IN THIS SUMMARY
The Death of Money details the movement of money from a government-mandated equivalent to a new electronic form that is nothing more than a configuration of ones and zeros-the fundamental units of computing. This non-tactile entity has created a ubiquitous environment that takes up no physical space, but which is populated by millions of investors, traders, bankers, money managers, analysts, policy makers, and government officials. The world in which this new economy functions is more akin to an electronic "commons" than it is to an economy owned by the people who use it. Kurtzman describes how economists have consistently failed to understand the significance of this change and, yet, they still pass on the conventional wisdom that no longer produces working forecasts for interest rates, growth, or trade.