Alchemists of Loss book launch

30 June 2010, 6.30pm
2 Lord North Street, Westminster SW1 (entrance on Great Peter Street)

Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System

Over the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy. In a clear and accessible style, Kevin Dowd and Martin Hutchinson show how modern finance combined with easy money threatened to bring down the world financial system. At the heart of the book is modern finance as a US invention, the theories and practices associated with them, and the changes they made in business models and risk management on Wall Street and other major financial centres.

Alchemists of Loss will help you to understand how our financial system crashed and show you what it will take to make sure this won't happen again as we move forward.

Kevin Dowd is a former academic and policy economist who has written extensively on the areas of monetary, financial and macro-economics, political economy and financial risk management. Professor Dowd’s books include Competition and Finance: a New Interpretation of Financial and Monetary Economics (Macmillan, 1996), Money and the Market: Essays on Free Banking (Routledge, 2000) and Measuring Market Risk (Wiley, 2005). He has affiliations with the Cato Institute (Washington), The Cobden Centre (London), Institute of Economic Affairs (London), Independent Institut