New York Times bestseller • Life on the Edge alters our understanding of our world's fundamental dynamics through the use of quantum mechanics. Life is the most extraordinary phenomenon in the known universe; but how did it come to be? Even in an age of cloning and artificial biology, the remarkable truth remains: nobody has ever made anything living entirely out of dead material. Life remains the only way to make life. Are we still missing a vital ingredient in its creation? Using first-hand experience at the cutting edge of science, Jim Al-Khalili and Johnjoe Macfadden reveal that missing ingredient to be quantum mechanics. Drawing on recent ground-breaking experiments around the world, each chapter in Life on the Edge illustrates one of life's puzzles: How do migrating birds know where to go? How do we really smell the scent of a rose? How do our genes copy themselves with such precision? Life on the Edge accessibly reveals how quantum mechanics can answer these probing questions of the universe. Guiding the reader through the rapidly unfolding discoveries of the last few years, Al-Khalili and McFadden describe the explosive new field of quantum biology and its potentially revolutionary applications, while offering insights into the biggest puzzle of all: what is life? As they brilliantly demonstrate in these groundbreaking pages, life exists on the quantum edge. Winner, Stephen Hawking Medal for Science Communication

Argues that the stock market crash of 1929 and subsequent Depression occurred as a result of poor decisions on the part of four central bankers who jointly attempted to reconstruct international finance by reinstating the gold standard.

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

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