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- Published on: 1888
- Binding: Paperback
Customer Reviews
Most Helpful Customer Reviews
46 of 47 people found the following review helpful.
By Tom
Having enjoyed both "Capital" and "Whoops", I was looking forward to this latest Lanchester. Sadly, however, I found it a bit of a disappointment.First, it's important to understand what you are buying. The book comes in three sections: pages 3-63 are a narrative section entitled "The Language of Money"; pages 67-248 are a dictionary/encyclopaedia, arranged alphabetically, entitled "A Lexicon of Money"; and pages 251-277 are a final narrative section entitled "Afterword". (Then there are a few pages of notes, suggestions for further reading and so on, which are much more useful than such things usually are.) So as you can see, by far the bulk of the book is the dictionary section. I didn't realise this (lazily I just bought the book because it's by John Lanchester, and he's a very talented writer) and I think it's important to appreciate, because it makes the book a lot less useful and a lot less easy to read than his other works.As to utility, the dictionary section is a curious mix. Some of the entries really have very little to do with the subject and seem to have been chosen in order to enable Lanchester to make a joke or a quirky reference - a sort of Schott's Miscellany for finance. So for example there's an entry for "CREAM" (which opens with "A song by the Wu-Tang Clan that should be on the required-listening playlist for everybody who is or wants to be in business for themselves"), and there's an entry for "Jachymov" (a place in the Czech Republic whose sixteenth century currency ultimately gave us the word "dollar"). These are mildly interesting bits of utter trivia which in reality are no more than fluff and padding. At the other end of the scale, however, serious and important topics are treated with such brevity as to be frustrating. There are too many examples here to list but is the topic of "student loans" - a fascinating, complex and important subject dealt with in less than a page and mostly by way of an anecdote. Grrrr! Of course I understand it's "only a dictionary" and so it can't hope to cover things in depth - but in a way that's the problem I'm trying to illustrate.As to readability - well, no-one actually READS a dictionary or a Schott's Miscellany, do they? Not for long, anyway. I'm a crossword addict and I love Brewer's Dictionary of Phrase and Fable, so sometimes I do "read" it in the sense that I look something up, get distracted by something else and end up reading a few random pages out of interest for 15 minutes or so. But not for any longer. This section of the book operates like that - something catches your eye, then something else, then you skip a few pages, then you put it down. I suspect that almost no-one is going to sit down and work their way through from "A" to "Zombie Bank". It's just a series of disconnected entries: there's no narrative flow, no story to sweep you along, just a lot of random entries.Thus the format of its principal section means that this isn't a book that you actually READ. What is it then? A reference book? Maybe. But that, of course, greatly reduces its utility. Reference books sit on the shelves to be consulted when necessary. But to get the most out of this book you'd need to have it to hand whenever you were encountering unfamiliar economic terms - reading the business pages in your newspaper, maybe, or watching the news, or listening to some annoying BBA spokesperson on the radio. And the chances are that you aren't going to have it with you then, are you?The two bits which you *can* sit down and read are the first 60, and the last 26, pages. What about those?The first 60 pages are (in my view) the best bit of the book. The opening is brilliant, a classic piece of Lanchester. And it continues well. Its scheme is essentially as follows: (a) the obscurity of financial language and the need for non-finance people to understand a bit more about it (ie "Why I Wrote this Book"); (b) how a lot of financial words seems to mean the opposite of what you'd expect; and finally (c) an overview of different types of economists and economic theories, including the theory of money and a critique of neo-liberal economic theory. This last section is good but tantalising - I myself longed for Lanchester to keep going with it, to expand it, to cover those themes in more depth. Instead he gives you just a glimpse and then heads off into the Miscellany.The final 26 pages are a slightly incoherent ending. He begins with some good news global statistics about how many people are being lifted from poverty then does an awkward segue into a return to his attack on neo-liberalism, concluding that we must be on the verge of a momentous shift in economic systems because the current one is working so badly. (This is all founded on the rise in inequality.) There's not sufficient meat here to satisfy.So even though I'm a Lanchester fanboy I couldn't give this one more than 2 stars. Buy "Capital" or "Whoops" if you haven't already, they're far better.
0 of 1 people found the following review helpful.
By SH
The idea behind the novel is great, and necessary for me, but despite explaining the concepts clearly there are so many to absorb I personally found I forgot what I had just read to focus on the next concept.
5 of 7 people found the following review helpful.
By Mr. T. White
If nothing else, this book most admirably succeeds in making the potentially boring and intractable become interesting, accessible and dare I say - entertaining. In other words, for anyone involved in finance, this book is a most interesting economic primer, which also happens to be seasoned with quips and clever humour a plenty. Take "dead cat bounce" for instance. I couldn't help but give a wry chuckle when I read this, following its initial definition: "...it's the same kind of bounce a dead cat would give if you chuck it out a window. If you're wondering who on earth would come up with a metaphor like that, greetings, and welcome to the world of money."Ouch! It's just as well that the world of money is not quite crammed full of sociopathic, and sick individuals then. Right!?Some can criticise this book for including many commonly understood terms, such as GDP, inflation, and insurance. But then again, not only is knowledge subjective but even when defining the commonly known, Lanchester arguably does a great job of injecting some fresh, and often downright piquant stimulus into even the most well trodden of monetary expressions. Take 'insurance' which is: "a great idea, but it is distressing how often... it turns out to be a scam dependent on the customer not having read the small print." How true, how very true indeed! But you have to agree, that such a cynical definition, suggests more than just a welcome degree of mischievously inspired iconoclasm. In other words, I love it. And, this book is most wonderfully packed with similar definitions.This reviewer concludes - you must buy this book if you wish to witness a perfectly spirited mix of wicked entertainment, and (otherwise) boring financial terms.That is to say, it most certainly deserves full marks.
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