Author: Milton Friedman
- Trading books are a form of accounting ledger that contains records of all tradeable financial assets of a bank.
- Trading books are subject to gains and losses that affect the financial institution directly.
- Losses in a bank’s trading book can have a cascading effect on the global economy, such as those that occurred during the 2008 financial crisis.
“Excellent book….This reviewer has never read a more straightforward and simple statement of the present ills facing our society and what we as citizens in a democracy must do about them.” –Chicago Sun Times –This text refers to the Hardcover edition.
From the Back Cover
In this classic about economics, freedom, and the relationship between the two, Milton and Rose Friedman explain how our freedom has been eroded and our prosperity undermined through the explosion of laws, regulations, agencies, and spending in Washington, and how good intentions often produce deplorable results when government is the middleman. The Friedmans also provide remedies for these ills–they tell us what to do in order to expand our freedom and promote prosperity.
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