Cover: The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, from Harvard University PressCover: The Future of Money in PAPERBACK

The Future of Money

How the Digital Revolution Is Transforming Currencies and Finance

Product Details

PAPERBACK

$21.95 • £19.95 • €19.95

ISBN 9780674293892

Publication Date: 09/05/2023

Trade

496 pages

6-1/8 x 9-1/4 inches

17 photos, 8 illus.

Belknap Press

World

Also Available As

Jacket: The Future of Money

HARDCOVER | $35.00

ISBN 9780674258440

Trade

Add to Cart

Educators: Request an Exam Copy (Learn more)

Media Requests:

Related Subjects

On NPR’s Life Kit, listen to Prasad explain how to get started with digital currencies:

“A road map for money managers, market strategists, and others seeking to understand this new world.”—Barron’s

“Money shapes economies, economies shape nations, nations shape history. It follows that the future of money is profoundly important. Here is a definitive report on where we are and where we are going.”—Lawrence H. Summers, former Secretary of the Treasury

“Prasad manages to make the financial system intelligible and interesting without resorting to shortcuts and exaggeration…Previous overhauls mainly improved existing systems, he notes. The end of cash—likely within a decade or two—is revolutionary.”—The Economist

A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse.

We think we’ve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live.

Above all, Prasad foresees the end of physical cash. The driving force won’t be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Meta and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk.

Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

Visit Eswar Prasad’s The Future of Money website to read the Introduction and Chapter 1, learn more about Prasad’s research, and find an up-to-date schedule of his speaking engagements

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Jacket: Iron and Blood: A Military History of the German-Speaking Peoples since 1500, by Peter Wilson, from Harvard University Press

A Lesson in German Military History with Peter Wilson

In his landmark book Iron and Blood: A Military History of the German-Speaking Peoples since 1500, acclaimed historian Peter H. Wilson offers a masterful reappraisal of German militarism and warfighting over the last five centuries, leading to the rise of Prussia and the world wars. Below, Wilson answers our questions about this complex history,