The Only Game in Town ─ Central Banks, Instability, and Avoiding the Next Collapse

From Mohamed A. El-Erian, one of the key thinkers of our time and the #1 New York Times bestselling author of When Markets Collide, comes a roadmap to the increasing economic and financial volatility that lies ahead, and the choices we face both individually and collectively. Our current economic path, which has relied so heavily on finance, is coming to an end. But where we go when we reach this inflection point—toward renewed growth and prosperity, or toward increased malaise and financial chaos—is not predestined. It is up to us. Provocative and illuminating,The Only Game in Town is essential reading for investors and anyone interested in markets, economics, banking, or our global future.

Mohamed A. El-Erian is chief economic adviser at Allianz, chair of President Obama’s Global Development Council, and the former CEO and co-CIO of PIMCO. He is a contributing editor at theFinancial Times and a Bloomberg columnist. El-Erian was on Foreign Policy’s list of Top 100 Global Thinkers for four consecutive years, and named by that journal as one of the 500 most powerful people on the planet. He appears regularly on CNN, CNBC, and Bloomberg, and his writings have also appeared in Fortune, The Wall Street Journal, The Washington Post, Business Insider, Newsweek, The Atlantic, Latin Finance, Project Syndicate,and other outlets. El-Erian’s last book, When Markets Collide, was a New York Times and Wall Street Journal bestseller, won the Financial Times/Goldman Sachs Award for best business book of the year, was named as a best book of the year byThe Economist, and was called a best business book of all time by TheIndependent. El-Erian earned his master’s degree and doctorate at Oxford University, having obtained his undergraduate degree at the University of Cambridge, where he holds an honorary fellowship at Queens’ College.