Other People's Money

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Other People's Money
63,00 lei

Categorii: Diverse

Limba: Engleza

Data publicării: 2016

Editura: Profile Books

Tip copertă: Paperback

Nr Pag: 288

ISBN: 9781781254455

Dimensiuni: l: 13cm | H: 20cm

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Other People's Money
63,00 lei

Descriere

A scathing and well-informed critique of the financial industry by leading economist John Kay.


We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable?

John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement.

We need finance, but today we have far too much of a good thing. In Other People's Money, John Kay shows, in his inimitable style, what has gone wrong in the dark heart of finance
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