Princes of the Yen

Full Name
Princes of the Yen: Japan's Central Bankers and the Transformation of the Economy

Princes of the Yen is an eye-opening book that offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world and raises important questions about the concentration of power within central banks. A number one bestseller in Japan, Princes of the Yen sold over 150,000 copies and was made into a video documentary.

The second version of Princes of the Yen was published in 2020 that includes a long-lost chapter that discusses how Werner thought that Alan Greenspan's actions would eventually create an asset bubble that would blow up.