Publisher's Synopsis
Supermoney focuses on the organizational and institutional impact of money and how it moves through society. The green stuff in your wallet is not the real money, writes Smith. There is a superior currency which Smith christens Supercurrency -- income that has been sent through the prism of the markets. Between the earners of income and the holders of the Supercurrency is a tremendous gap -- one that leads people instinctively to the market. All investors need to learn the nature of the Supercurrency. Its power has bent the course of American business and even the seemingly precise numbers of accounting. Supermoney recounts the crisis weekends in 1970 when the market mechanism barely survived and the markets melted down. Some of the basic questions that were debated at the time are still considered: can money really be managed? can funds perform? what happens to individuals in a market dominated by professionals? was the idea that things would get better and better a phenomenon of a particular time. All this is told in the light, bright, funny style 'Adam Smith' has been renowned for four decades.
