Paper Promises

In today's financial climate, we are all, naturally, obsessed by debt. In this title, the author examines the flawed structure of the global finance systems as they exist today, and asks, with deeper imbalances that the world is currently facing, what's actually at stake.

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Winner of the Spears Business Book of the Year Award

Longlisted for the Financial Times Goldman Sachs Business Book of the Year Award

In today's financial climate, we are all, naturally, obsessed by debt. In almost every aspect of our life we experience it - on our credit cards, mortgages, bank loans and student loans. But where has this debt come from? How does it work? What is any money really worth? And what promises do we need to believe to keep the whole system afloat?

In this fascinating look at money through the ages - including our own unstable future - award-winning financial journalist Philip Coggan examines the flawed structure of the global finance systems as they exist today, and asks, with deeper imbalances that the world is currently facing, what's actually at stake.