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Volcker
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The biography of a true financial hero, Fed chairman Paul Volcker, who saved America's financial system from collapse--based on complete access to Volcker's papers and candid firsthand testimony from Volcker himself.

About the Author

William L. Silber is one of America's most respected experts on finance and banking. He is currently Marcus Nadler Professor of Finance and Economics and Director of the Glucksman Institute for Research in Securities Markets at the Stern School of Business, NYU. His many books include When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy. He is co-author of the standard textbook Money, Banking and Financial Markets and, with Lawrence Ritter, of the classic Money.

Reviews

--Winner of the China Business News 2013 Financial Book of the Year. --Short-listed for the 2012 Financial Times/Goldman Sachs Book Prize. --One of the Best Business Books of 2012 (Bloomberg Businessweek). --Named one of 2012's Great Leadership Books by the Washington Post. - William Silber weaves a subtle link between the three crises that tested Paul Volcker: gold in 1971, inflation in 1979, and sub-prime mortgages in 2007. He tells the story of Volcker's success in a lively and authoritative style, but unless America heeds the lessons for fiscal responsibility that Silber draws from Volcker's record, the crisis that lies ahead could make those past upheavals seem tame by comparison. Every member of Congress and concerned citizen should read this book. Nouriel Roubini, Chairman, Roubini Global Economics and author of Crisis Economics: A Crash Course in the Future of Finance By observing the life of Paul Volcker, an extraordinary public servant, William Silber has created an absorbing story about how theories and personalities affect public policies and economic outcomes. This book presents a novel explanation for how Volcker defeated inflation, and at the same time, delivers an important message for the complex economic problems we face today. Thomas Sargent, 2011 Nobel Laureate in Economics This book shows how much the character and purpose of a single man can play a fundamental role in economic history. The end of the gold-dollar standard in 1971 and the end of out-of-control inflation after 1979 are the dominant economic events of the last half century. But standard economic models do not tell us why these things happened. William Silber shows strikingly how much the leadership of Paul Volcker lay behind these events. Robert J. Shiller, Yale University, author of Irrational Exuberance Paul Volcker's contributions to the health of our economy and society are truly legendary, so all of us can learn from this careful account of his thinking and his courageous actions. George P. Shultz, former Secretary of Labor, Secretary of the Treasury, and Secretary of State Paul Volcker championed mystique as the essence of central banking-but always resting on the twin foundations of principle and analysis. Using previously unpublished papers and private conversations, William Silber delves behind the mystique to reveal the principles and analysis that guided this towering figure of international finance over the past 40 years. Sir Mervyn King, Governor of the Bank of England William L. Silber's new biography is therefore to be welcomed, and Volcker: The Triumph of Persistence will likely be regarded as the authoritative treatment of its subject. Boston Review

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