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Capital Failure

By Nicholas Morris

Capital Failure

By Nicholas Morris

0 - Default Title
Description
Adam Smith's 'invisible hand' relied on the self-interest of individuals to produce good outcomes. Economists' belief in efficient markets took this idea further by assuming that all individuals are selfish. This belief underpinned financial deregulation, and the theories on incentives and performance which supported it. However, although Adam Smith argued that although individuals may be self-interested, he argued that they also have other-regarding motivations, including a desire for the approbation of others. This book argues that the trust-intensive nature of financial services makes it essential to cultivate such other-regarding motivations, and it provides proposals on how this might be done.
Product details
Edition:
1
Number of Pages:
424
Release Date:
2014-10-07
Publication Date:
2014-08-07
Publisher:
OUP Oxford
Languages:
Original: English
ISBN10:
0198712227
ISBN13:
9780198712220
GPSR Manufacturer Reference:
[email protected]
Weight:
798 g
Height:
161 cm
Width:
240 cm
Thickness:
27 cm
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