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Other People's Money

By John Kay

Product Image: Other People's Money

Other People's Money

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Description
Shortlisted for the Orwell Prize 2016 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.
Product details
Binding:
Paperback
Edition:
1
Number of Pages:
368
Release Date:
2016-04-21
Publication Date:
2016-04-21
Publisher:
Profile Books Ltd
Languages:
Original: English
ISBN10:
1781254451
ISBN13:
9781781254455
GPSR Manufacturer Reference:
[email protected]
Weight:
299 g
Height:
128 cm
Width:
198 cm
Thickness:
27 cm

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The items bear minimal signs of past use, such as light scratches or memories in the form of markings. These signs of wear give the items a charming character and tell stories of their previous owners, while not affecting their functionality.
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