Money, going out of style: The story of money and the mystery of its decline

So what is money? Money, as we know it, was born in 1971 when currencies unlinked from gold. During its adolescence, money was hyperactive, causing rampant inflation. Three decades of mature growth followed. But in middle age, money is changing again, losing its vibrancy. Central banks have printed trillions of dollars, euros, and yen, only to see it mostly sitting dormant, unappreciated, neither driving growth nor inflation.

As it achieves the age of fifty, money is experiencing its figurative menopause. It used to have a regular monthly cycle of payroll and shopping. But the cycle is increasingly erratic and infrequent. Nobody saw this coming; if money feels misunderstood, that’s probably because it is. Until now.

Money: Going Out of Style first offers the reader a clear understanding of economics and the role of money, by following an island tribe as they develop money and an ever more sophisticated economy. The book never forgets that money is secondary to the real economy: goods and services.

Armed with this deeper appreciation of money and economics, the book returns to the present day to examine money’s midlife crisis: the effect of rising inequality, and how it’s causing money to go out of style.