Princes of the Yen - Japan's Central Bankers and the Transformation of the Economy. 

Author - Richard A. Werner

2nd Complete Edition, including the “long lost last chapter”

Princes of the Yen opens the curtains and shows you how money works, who creates it and how it is deployed to cause boom and bust cycles. Professor Werner reveals the unexplored role of central banks and their grip on the economy through their control of credit creation. Princes of the Yen reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept in the dark about this. This book poses an unprecedented challenge to the dominant ideological belief system in economics and the control levers that underpin it. Piece by piece, reality is deconstructed to reveal the world as it is, not as those in power would like us to believe that it is.

 At the same time this book presents a new analysis of Japanese economic development in the 20^th century as well as the East Asian high growth growth model, which is based on the Japanese system, and thus offers deep insights into the current competition between competing economic systems.

 "A path-breaking piece of research. Werner’s style is gripping and lucid. Few books I have read manage to get their point across to a non-specialist audience as well as this one." Dr Tobias Hoschka, Asian Development Bank

"Superb. A gripping page-turner." Professor Kozo Yamamura. University of Washington

Biography

Professor Richard A. Werner, born in 1967, is an economist and professor of banking and finance. He is known as the proponent of a new post-crisis monetary policy he called “Quantitative Easing” when he proposed it in Japan in 1995 as chief economist of a British investment bank. Besides experience as senior managing director and senior portfolio manager at Bear Stearns Asset Management, he has worked as researcher or consultant at the University of Oxford, the Bank of Japan, the Development Bank of Japan, the Asian Development Bank, among others. He is involved in supporting the establishment of not-for-profit community banks (www.local-first.org.uk).