Eric Lonergan explores our complex relationship with money. In a provocative and insightful analysis, he argues that few things seem to matter more to us, but few things are as poorly understood. Economists have long worked with the theory that our relationship to money is rational, but not all our reactions to it make sense. Lonergan shows that many of our views about money, credit and saving are little better than prejudices. The same social and emotional forces that affect quant traders in the world's financial markets can be seen in the mania of Pokemon card trading in the school playground.
This fascinating book reveals the tension between money's capacity to assist us in our lives and its propensity to cause instability and to distort our values. We are limited in our ability to control money's power, says Lonergan, but only by understanding money better, and thinking about it less, may we get on with enjoying what we have.
Eric Lonergan is a macro hedge-fund manager at M&G Investments in London. He studied PPE at the University of Oxford and has an MSc in economics and philosophy from the London School of Economics. He is a frequent contributor to the Financial Times.
Introduction 1. Print it Part 1: Interdependence i 2. Money's morality 3. Global money Part 2: Time and money 4. Future selves, worry and Schuld 5. Controlling the future 6. Other people's money Part 3: Measurement 7. Money measures Part 4: Money's allure 8. The sacred and the profane Part 5: Interdependence ii 9. The other side of the coin 10. Money. Index