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The Money Machine: How the City Works

3.80  ·  Rating details ·  271 ratings  ·  21 reviews

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

Paperback, 240 pages
Published February 26th 2015 by Penguin (first published November 20th 1986)
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Average rating 3.80  · 
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 ·  271 ratings  ·  21 reviews

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Darran Mclaughlin
I'm reading around business, economics and capitalism at the moment. This is a clear, succinct book on a boring subject. It's dull but it does exactly what it says on the tin.
May Ling
Jun 13, 2011 rated it really liked it  ·  review of another edition
Shelves: finance
I read this book to see how others have attempted to a holistic descriptions of the market place. This is actually not bad. If you have a lot of work experience you may find it a little basic in parts.

As for my research, I like that it draws out a lot of the different players/financial systems/institutions that are involved. He does a decent job of articulating what motivates each area of finance. I would highly suggest this for those that are trying to learn the market environment. Though it's
May 03, 2014 rated it really liked it  ·  review of another edition
An accessible introduction to the world of banking and finance, focussing on the city of London. Important financial instruments are described straightforwardly, with examples given to illustrate some of the more complex ideas. The main players in the market are also introduced here, with some discussion of what motivates them, which will put a lot of this into context for many, like myself, whose understanding of the industry comes largely from the media and their day-to-day experience. A very ...more
Alan Newton
Mar 18, 2018 rated it really liked it  ·  review of another edition
Quite a dry book but good nonetheless.

An excellent appraisal of the various financial institutions, products, instruments, and managers involved in the global money machine. Despite calls for more regulation, more crashes will happen in the future, as influential people seek to gain. With too little control over shadows banks, room for fraud continues to be a concern, and - yet - conversely, too much power is concentrated in the hands of the few who can manipulate what happens in the system,
Omar F Begg
Jan 20, 2019 rated it it was amazing  ·  review of another edition
An absolutely brilliant exploration of the heart of the UKs FS sector. Coggan makes complex issues extremely understandable and digestible, and gets the information across clearly, in a very engaging manner.

Overall its a very easy read, and not laborious. A great book, particularly for beginners or those with little understanding of the financial services sector, but an equally engaging read for the more experienced. Contextualises a lot of the modern economic trends and innovations, while also
Jul 08, 2019 rated it did not like it  ·  review of another edition
Shelves: non-fiction
Well, it's only a short book, but it felt much MUCH longer. I'm not unintelligent, but the financial sector is one area of human knowledge that never fails to set my head spinning. It's not a bad book, just that I was lost almost from the first page. If this was 'introduction to the economy', then I clearly need to start with 'economics for tiny babies'
Sep 09, 2017 rated it it was amazing
It shouldn't be that hard to write an extremely clear overview of the UK financial sector for the layperson, but for some reason Philip Coggan is the only writer to have done it. This book is in its seventh edition for good reason.
Yates Buckley
Interesting format: good quick insight into the financial world with minimal jargon. A bit confusing in terms of explaining how the taxinomy of financial players interrelate. And I wish I had realised there is a new more up to sate edition fo read!
Jeroen Van de Crommenacker
A good introduction to how the City of London works. Useful.
Oct 09, 2019 marked it as to-read  ·  review of another edition
Its a very good book ;)
Tom Bolton
Mar 07, 2019 rated it really liked it  ·  review of another edition
Top primer
May 10, 2017 rated it liked it  ·  review of another edition
Good, but not great

Good intro to the British financial system (especially for an America). Recommend for young professionals or investors who are curious.
Dec 22, 2019 rated it really liked it
Shelves: economics
Due to the subject matter, this is a VERY dull book - but it does do an excellent job of explaining the complexities of the financial sector and its jargon.
Jason Lawless
Nov 03, 2016 rated it really liked it  ·  review of another edition
I have worked in the City of London, in financial services, for ten years. I deal daily with asset managers, hedge funds and investment banks. This is an excellent introduction into the financial world. It explains the basics of the most commonly traded instruments and how the markets work. It is recommended reading for all new recruits into the firm where I work. For those with experience in the industry it will be quite basic, but it is the perfect book for those who are new to the game. It's ...more
Mon Thi Han
A really good introduction book for a beginner. The book covers almost everything. But will most benefit companies, people with commercial interests or a lot of money to invest. A lot of the topics are also applicable to personal finance. The last few pages specifically cover this topic. Will definitely need to re-read a few times to grasp all the topics covered.
Jul 02, 2013 rated it it was ok  ·  review of another edition
This is a very basic book, probably like expanding on a few chapters off a first year undergraduate course on principles of finance. Nevertheless, it could be a good read for those with non finance/accounting background.
Alastair Kerr
Nov 16, 2013 rated it really liked it  ·  review of another edition
A good overview of the workings of the UK financial sector, though a bit dated in places.
Fausto Bañuelos
Excellent book for those who want a great and simple explanation of the financial world.
Robert Geoghegan
Interesting book. Simple and elegant to read. Nothing more than an introduction to the complexity that is money.
May 28, 2011 rated it really liked it  ·  review of another edition
It provides a thorough overview on all the financial terms that is strange to me(a non-finance person), its history and use. Then, summarised it in the context well said by the title.
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Philip Coggan is a British columnist and author of books on economics. He currently writes for The Economist. Previously, he worked for the Financial Times for 20 years.

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