The Mystic Hand av Johan Van Overtveldt

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It¿s hardly an exaggeration to claim that over the last few decades, central bankers have achieved unprecedented status. Especially since the global financial crisis of 2008, the world holds its breath whenever they announce new policy interventions. Given the opaque nature of the money supply, in the eyes of most citizens, the ¿mystic hand¿ of central bankers is felt everywhere. Never before have central bank policies been so decisive, not only for financial markets but also for national economies and public welfare in general. <BR><BR>This book traces the way in which central bankers learned, unlearned, relearned and still have to learn the tricks of their trade. The lessons taught by nineteenth-century <i>grands savants</i> like Henry Thornton and Walter Bagehot, once instilled, were eventually neglected. This led directly to the policy mistakes that produced the Great Depression of the 1930s. <BR><BR>When the financial crisis of 2008 broke out, central bankers the world over summon