Sunday, March 18, 2018

Robert Pringle - The Capture of Money

Whenever Robert Pringle offers a new article on his blog, I try to feature it here. Mr. Pringle has a long and established career working with central bankers from around the world. 

His decades of experience provide a valuable insight into the world of central banking that we don't see covered that well in mainstream media. Below are the opening paragraphs of his new article, The Capture of Money. In this article, he explains why he thinks "money has become an elite sport".


"Money is a near-universal social institution. It  evolved to support human cooperation and to control and coordinate the life of humankind. Like other core institutions, such as marriage and language, the forms that money takes may differ widely. The values and norms governing money’s use, and the practices associated with it, also vary widely.

For the individual, money is also a psychological symbol. Money allows each person to enjoy the fruits of others’ work. For many billions of people, obtaining money is the sole purpose of their everyday life.

But there is a difference in how we, as individuals, treat marriage and language, on one hand and money on the other."


Some info about Robert Pringle:

"After obtaining a Masters degree in economics, sociology and history from King’s College, Cambridge University and post-graduate study at the London School of Economics, Robert joined The Banker, part of the FT group, later being appointed the Editor.
He also served as deputy director of the Committee on Invisible Exports, a body representing a wide range of UK service sectors, which was set up by the Bank of England to study and publicise the contribution made by financial, business, professional and allied services to world trade and the UK economy. He led a study that made the first published estimates of the invisible earnings of UK professions such as law, medicine and accountancy.
From 1979 to 1986  he was the first executive director of the Group of 30, an influential think tank based at the time in the World Trade Centre, New York (it has since moved to Washington, DC). For the G30, Robert co-authored pioneering studies of the foreign exchange and interbank markets, and on IMF borrowing from the private markets, and the emerging profession of official reserve management."

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