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The Money Machine: How the City Works [Paperback]

Philip Coggan
4.5 out of 5 stars  See all reviews (21 customer reviews)
RRP: 10.99
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Book Description

2 July 2009

What happens in the City has never affected us more

In this excellent guide, now fully revised and updated, leading financial journalist Philip Coggan cuts through the headlines, the scandals and the jargon to explain the nuts and bolts of the financial system.

What causes the pound to rise or interest rates to fall? Which are the institutions that really matter? Why is it we need the Money Machine - and what happens when it crashes? Coggan provides clear and concise answers and shows why we should all be more familiar with a system we so intimately depend upon.

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Product details

  • Paperback: 240 pages
  • Publisher: Penguin; 6 edition (2 July 2009)
  • Language: English
  • ISBN-10: 0141042893
  • ISBN-13: 978-0141042893
  • Product Dimensions: 12.8 x 19.6 cm
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (21 customer reviews)
  • Amazon Bestsellers Rank: 7,307 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Product Description


If you are looking for an immediately practical book, then the best basic guide continues to be The Money Machine (Financial Times)

Philip Coggan's excellent primer on the City. (London Review of Books)

A marvellously clear account of the City and all the modern financial developments (Business Review)

Both interesting and informative ... it is written in a way that makes it an easy read (Business)

Fascinating (Accountancy Age)

An excellent introduction to many of the key financial institutions which do business in the City ... Even if you have been working in the City for years, it is quite likely that you will learn a great deal from this book. Certainly it makes you realize the extent of financial dealings taking place daily in the City. (

The Lonely Planet for things financial (Observer)

About the Author

Philip Coggan has been a journalist for the Financial Times since 1986, including spells as a Lex columnist, personal finance editor and economics correspondent.

Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

4.5 out of 5 stars
4.5 out of 5 stars
Most Helpful Customer Reviews
27 of 28 people found the following review helpful
By A Customer
This book is a must for anyone new to financial markets, and particularly to the City of London.
It describes the history of finance in the City and how the different markets came about, what they're about, and how government policy shaped the competitive and busy financial centre that it is now.
This book isn't an in-depth study of the markets, and its easy style will appeal to anyone wishing to gain an insight into what makes the City tick.
I read this book 3 years after I started working in financial IT, and I wished I'd read it much sooner.
Buy it for your train journey.
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11 of 12 people found the following review helpful
5.0 out of 5 stars Nobody tells it like Philip Coggan... 31 Jan 2006
Years of experience writing for the FT definitely makes Philip Coggan an authoritative voice on the way the city works...
A great overview of the London market, and the development of the various different financial and investment instruments/products that exist within the city.
A recommended read for anybody seeking to extend their knowledge of the London financial market.
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3 of 3 people found the following review helpful
The book is written in understandable language with any jargon fully explained. To aid the reader understand some of the topics covered the author includes many examples showing the reasoning behind much of the decisions made within the system by all parties involved. As you read through the book the author links each topic covered to how that subject material played a part in the financial crisis (2007-2009). This book is for anyone who is even slightly curious into how the city works and what all the economic newspaper columns are talking about. This book is also useful if you wish to highlight your bank manager's weakness in knowing his subject matter should you ever meet him/her.
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9 of 10 people found the following review helpful
5.0 out of 5 stars The Money Machine: How the City Works 28 Dec 2008
A nice simple introduction to the workings of the institutions and systems of the City of London. Written by a journalist from the Financial Times newspaper, the latter part of the book is perhaps more directed at those who are interested in making a small, personal investment in the financial markets. The book provides some account about how the City of London became one of the world's leading financial centres.
Updated to
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2 of 2 people found the following review helpful
4.0 out of 5 stars Short and enjoyable to read 22 April 2010
Firstly, I have to say that the book is for "outsider" of banking world (as I am) to grab basic understanding about it. And it does this successfully. Its writing is clear, its analysis (sometimes with examples) is enjoyable. It very well tells you how financial concepts move around the city and the world, work together in a whole system. And little nonsense philosophy. However, there are some (although very few) places, the author seemed forget explaining some concepts.
It does not at all work your brain hard so you can read it on your way to work.
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2 of 2 people found the following review helpful
4.0 out of 5 stars thorough guide 20 Dec 2009
By kg
Format:Paperback|Verified Purchase
This book is valuable even for the financial professionals. An excellent book due to its simpicity of writting.
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14 of 17 people found the following review helpful
5.0 out of 5 stars Excellent 2 July 2003
An excellent book. Most people hear loads of finacial terms every day, but don't really know what they mean. They maybe semi understand.
It is not at all hard to learn the basics of economics. It's a subject where if you can grasp about say, 7 rules, then you can figure out what's going on with all the others without bothering too much.
This book concentrates on expressing these rules with simple examples in plain english, which is all you need to understand a great deal of financial jargon.
Buy this book and be a veritable fountain of knowledge for the rest of your life!
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1 of 1 people found the following review helpful
4.0 out of 5 stars Everything most people would need to know 15 Sep 2011
Format:Paperback|Verified Purchase
I bought this book upon entering a job for a financial services company, and found it to be a very clear and understandable introduction but one that didn't patronise.

I always recommend this book to any friends who want an understanding of ,for example, how the bond market works or how banks operate. Something which given current affairs is good knowledge to have.
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Most Recent Customer Reviews
5.0 out of 5 stars I love the way this is written
A very informative and well explained books. It goes into easy to follow detail in each chapter regarding the make up of certain aspects of the city and also some of the history... Read more
Published 2 months ago by Anthony Hart
5.0 out of 5 stars Really useful introduction
This book is very well written, clear and interesting. It provides a great introduction to the financial sector and an unbiased look at the positives and negatives of the system.
Published 6 months ago by olivia
5.0 out of 5 stars Excellent for Beginners
I have a background in Neuroscience, so I was looking for a book that introduce me to the world of Finance, so I could understand exactly what is going on in the news and... Read more
Published 7 months ago by Jason W
5.0 out of 5 stars The Money Machine
This is a fantastic introduction to and overview of the UK economy and how the various elements interconnect and influence each other (interest rates, shares, bonds, equities... Read more
Published 9 months ago by Anon
5.0 out of 5 stars very good overall picture
I now have much better understanding of all relevant aspects of "money". Written in a way that I suspect everyone can understand.
Published 10 months ago by michael
5.0 out of 5 stars A very insightful and easy read
This is a great book if you want to know more about the financial system and the many different products and acronyms you may have heard about, but didn't quite understand. Read more
Published 12 months ago by Paul W
4.0 out of 5 stars Has the gift of saying a lot with few words
This work is a little like a text book. It ploughes through various aspects of they city, dealing with them one by one with occasional examples but not really much in the way of... Read more
Published 15 months ago by W. Henderson
3.0 out of 5 stars Ok book but jumps from basic info to very technical
I don't really know anything about banking, so was looking for something that woul start from the ground up. Read more
Published 16 months ago by Faisal
4.0 out of 5 stars Can we be detached when viewing the Financial System?
An excellent overview of the financial system. Somewhat dated now in view of the enormity of the corruption now evident in the system. Read more
Published 16 months ago by Donne Marshall
5.0 out of 5 stars THE MONEY MACHINE
Background to the City and the LSE. Details of governmemntal economic policies and their effect on the financial industry, and modern successes and failures.
Published 17 months ago by ROBIN EDWARDS
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