Аудиокнига Единственная игра в городе: центральные банки, нестабильность и предотвращение следующего коллапса

The book examines the unprecedented rise of central banks, such as the Federal Reserve and the European Central Bank, as they stepped in with unconventional monetary policies to rescue the global economy from the 2008-2009 financial crisis. The author explores how these institutions transitioned from invisible technocratic bodies into the sole drivers of economic policy while other political bodies remained gridlocked. The core problem highlighted is that central banks are now suffering from diminishing effectiveness; their prolonged use of zero interest rates and quantitative easing creates severe side effects, including inflated asset prices, rising inequality, and the risk of future financial instability. Furthermore, the text addresses ten major global challenges, ranging from sluggish growth and high youth unemployment to political dysfunction and lagging structural reforms. The narrative emphasizes that the current path supported by hyperactive central banks is unsustainable and will soon reach a T-junction. The global economy faces two divergent paths: one leading to inclusive growth and financial stability, and the other leading to chronic low growth and recurring crises. Ultimately, the book argues that true recovery requires moving beyond monetary interventions and implementing holistic fiscal and structural policies across governments, private sectors, and multilateral institutions.