{"product_id":"the-city-isbn-9781784785024","title":"The City","description":"\u003cb\u003eRadical insider’s account of how the city of London really works\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eThe City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy.\u003cbr\u003e\u003cbr\u003e Based on the author’s twenty years’ experience of City dealing rooms, \u003ci\u003eThe City\u003c\/i\u003e is an in-depth look at world markets and revenues that exposes how this mechanism works. All big international companies—not just the banks—utilise this system, and \u003ci\u003eThe City\u003c\/i\u003e shows how the operations of the City of London are critical both for British capitalism and for world finance.\u003cbr\u003e\u003cbr\u003e Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies now have control of a large share of world economic production? \u003ci\u003eThe City\u003c\/i\u003e explains how this situation came about, examining the history of the world economy from the postwar period to the present day.\u003cbr\u003e\u003cbr\u003e If you imagine you don’t like “finance” but have no problem with the capitalist market system, think again: it turns out the two cannot be separated.“\u003ci\u003eThe City\u003c\/i\u003e is a tour de force, which will soon be recognized as a formidable challenge to conventional wisdom and an essential contribution in its own right.”\u003cbr\u003e\u003cb\u003e—Robert Brenner, author of \u003ci\u003eThe Economics of Global Turbulence\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “It is not every day you read a book about global finance by a banker who quotes Lenin approvingly on page two. Unlike many of those who produce Marxist critiques of financial capitalism, Norfield writes from a position of experience: he has worked in the belly of the beast, and the book is the better for it … In \u003ci\u003eThe City\u003c\/i\u003e, he has done the research and pulled together the financial statistics that explain how the bloodsucking works.”\u003cbr\u003e \u003cb\u003e—\u003ci\u003eFinancial Times\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e“This book does the seemingly impossible: rendering finance’s mysteries transparent to the average reader, and at the same time delivering a penetrating analysis of the global economic system that will enlighten even experts. Tony Norfield has written a truly exciting and important book.”\u003cbr\u003e\u003cb\u003e —Paul Mattick, author of \u003ci\u003eBusiness as Usual\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “\u003ci\u003eThe City\u003c\/i\u003e is a valuable addition to the critical analysis of the financialisation of our world. And Tony Norfield is an experienced and radical guide to London’s role in this process. This book should be required reading for both bankers and activists alike.”\u003cbr\u003e\u003cb\u003e —Joris Luyendjik, author of \u003ci\u003eSwimming with Sharks: My Journey into the World of the Bankers\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “With heaps of empirical research and a clear style of argumentation, he demonstrates that the City isn’t a ‘satellite of Wall Street’ as many think, but its own beast, using Britain’s imperialist privilege to extract value from the world economy. Much of the book is directed against bad arguments made by the liberal-left—the distinction between ‘productive’ capitalism and ‘casino’ banking; the populist vitriol against ‘the banks’—which Norfield believes aren't just analytically false but let capitalism off the hook.”\u003cbr\u003e\u003cb\u003e —Yohann Koshy, \u003ci\u003eVice\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “Tony Norfield has had 20 years experience in City of London financial dealing rooms, for ten years as an executive director and global head of FX strategy in a major European bank.  He went on to complete a PhD in economics at SOAS, London.  Above all, he is a Marxist.  It’s a perfect recipe for an excellent book on modern British imperialism and the features of global finance in the 21st century.”\u003cbr\u003e \u003cb\u003e—Michael Roberts, author of \u003ci\u003eThe Long Depression\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “How many Marxists are at work in the dealing rooms of the City? Presumably they keep their heads well down. Tony Norfield is—or was—one. Twenty years a trader at the centre of the financial web, he has married the insights into the workings of the system he gained to a thorough Marxist understanding of political economy. The result is this fascinating book.”\u003cbr\u003e\u003cb\u003e—\u003ci\u003eMorning Star\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “Tony Norfield's opus \u003ci\u003eThe City\u003c\/i\u003e takes on a big subject and makes it, well—big … Casts a new light on a well-researched subject.”\u003cbr\u003e\u003cb\u003e—\u003ci\u003eFinancial Adviser\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “A timely and insightful book … It is an excellent read for anyone seriously wanting to consider the financial system.”\u003cbr\u003e\u003cb\u003e —\u003ci\u003eScottish Business Insider\u003c\/i\u003e\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e “An invaluable book for anyone wishing to better understand the world of finance, how the City operates and how this relates to the broader capitalist system.”\u003cbr\u003e \u003cb\u003e—Tom Haines-Doran, \u003ci\u003ers21\u003c\/i\u003e\u003c\/b\u003eFor nearly twenty years, \u003cb\u003eTony Norfield\u003c\/b\u003e worked in bank dealing rooms in the City of London. For ten years he was an Executive Director and the Global Head of FX Strategy in a major European bank, travelling to some forty countries on business, negotiating with finance ministries, central banks and major corporations. He was frequently quoted in the \u003ci\u003eFinancial Times\u003c\/i\u003e, \u003ci\u003eWall Street Journal\u003c\/i\u003e, \u003ci\u003eGuardian\u003c\/i\u003e and \u003ci\u003eTelegraph\u003c\/i\u003e, and on news services such as Reuters, Bloomberg, CNN and CNBC. In 2014, he was awarded a PhD in Economics from the School of Oriental and African Studies, University of London.","brand":"Verso","offers":[{"title":"Default Title","offer_id":46303226495205,"sku":"NP9781784785024","price":16.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781784785024.jpg?v=1767738698","url":"https:\/\/k12savings.com\/products\/the-city-isbn-9781784785024","provider":"K12savings","version":"1.0","type":"link"}