Like lending to firms and individuals engaged in the production of goods and services which most people would imagine was the principal business of a bank amounts to about 3 per cent of that total see. In 1912, woodrow wilson campaigned for president using many progressive ideas about strengthening the economy. John kay, with wide practical and academic experience in the world of finance, understands the operation of the financial sector better than most. A financial times book of the year, 2015an economist best boo. Other people s money the real business of finance by john kay. Other p e o p l e s money the real business of fina n c e j o h n k ay other peoples money dd 1 7115 12. Other peoples money free summary by john kay getabstract. The real business of finance are great because they are so attention holding, i mean you know how people describe other people s money. Access a free summary of other peoples money, by john kay and 20,000 other business, leadership and nonfiction books on getabstract. About the author john kay is a visiting professor at the london school of economics and a fellow of st johns college, oxford.
We need finance, but today we have far too much of a good thing. The costs and scale of intermediar activity grew very rapidly, the calibre and intellectual sophistication of people employed increased sharply, and new technologies became available to support their decisions. John kays book other peoples money was on the list. Other people s money, and how the bankers use it pdf book 1914 by louis dembitz brandeis. If some members of that closed circle make extraordinary profits, these profits can only be made at the expense of other members of the same circle. It was based on the play of the same name by jerry sterner. Other peoples money, by john kay the new york times. Oscars best picture winners best picture winners golden globes emmys san diego comiccon new york comic con sundance film festival toronto intl film. However, it doesnt necessarily need to be your money if you know how to leverage other peoples money to help you invest in yourself and build your net worth. Although living below your means is a good start toward building a financial cushion, ditching your latte habit and cable subscription wont add you to the list of selfmade millionaires. John kay is a british economist who once taught economics at oxford and is now a professor at the london business school and an editorial contributor to the financial times. Chair, professor of economics lse, codirector of the centre for macroeconomics. The theme of broken governance and accountability is echoed in economist john kays other peoples money. The real business of finance by john kay, public affairs books, 2015.
Financialization over the past three decades has created a structure that lacks. An introduction to other people s money by john kay jo charrington. Danny devito in full pumpedup, crazy form plays lawrence larry the liquidator garfield, a corporate raider plotting a hostile takeover of a store that provides the towns livelihood. The theme of broken governance and accountability is echoed in economist john kay s other people s money. Other people s money and how the bankers use it is a collection of essays written by louis brandeis published as a book in 1914. While always politically neutral, getabstract finds that his. He believes in good banks and effective asset managers, but good banks and effective asset managers are not.
The rest lies in intermediation, which is another way of saying. Everyday low prices and free delivery on eligible orders. We study risk taking on behalf of others an experimentin on a large random sample. Devito is a brilliant actor and works so well in this. The real business of finance by john kay hardback, 2015 at the best online prices at. If some members of that closed circle make extraordinary profits, these profits can only be made at the expense of other. Other peoples money, and how the bankers use it pdf book.
I was most impressed by how he explained the role of cds credit default swaps, moral hazard, and cdo collateralized debt obligation during the financial crisis in 2008. His 2015 book other peoples money should be added to the long and sagging bookshelf on how the nature of the financial services industry here denoted fsi, and including both commercial banking and shadow. Publication date 1914 topics banks and banking united states, finance united states. John kay deciphered the complicated world of finance and presented in an intriguing and logical way. Common sense suggests that if a closed circle of people continuously exchange bits of paper with each other, the total value of these bits of paper will not change much, if at all. Department of economics and centre for macroeconomics public lecture. Other people s money is a 1991 american comedydrama film starring danny devito, gregory peck and penelope ann miller. In other peoples money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. Popmoney is an easy, fast and secure online personal payment service that lets you send, request and receive money directly from your bank account. Cover illustration of harpers weekly, november 29, 19 by james montgomery flagg. In other people s money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. Librivox recording of other people s money, by louis d.
A financial times book of the year, 2015an economist best book of the year, 2015a bloomberg best book of the year, 2015 the finance sector of western. The film adaptation was directed by award winner norman jewison, and written by alvin sargent. The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which brandeis alleged were working in concert to. Other peoples money dinner with professor john kay. Buy other people s money book online at best prices in india on.
And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. Find out why the international financial sector has become a ruthless mechanism made up of rotten parts, and discover how these parts can be eliminated and, eventually, replaced. The real business of finance by john kay good books. Patrick honohan on an economist who argues that the world financial crisis has been contained but not settled. The ft columnist argues that banks have turned away from the real economy to trade with each other. Not in the long and the short of it, but in other peoples money, i wrote about the contrast between f scott fitzgeralds the great gatsby where the completely colourless narrator is a bond salesmanbecause thats about the most boring activity fitzgerald can think ofand the bonfire of the vanities, the great american novel of the.
Other peoples money by john kay overdrive rakuten overdrive. The financial sector, he shows, has grown too large, detached itself from ordinary business and. Other peoples money 2015 offers a detailed breakdown of the financial sector. Kay s insistence on stepping back, on judging finance by the humdrum standards of any other industry, with its selfserving mystique and aura of inevitability stripped away, makes other people s money one of the best two or three books ive read on the crash. Other people s money, and how the bankers use it pdf book.
Devito has romance on his mind, but miller has other ideas. Other peoples money professor john kay professor wouter. According to john kay, a visiting professor at the london school of economics and a regular contributor to the financial times, the finance sector is too large and too powerful. Other people s money sort of takes wall street and puts a comedic spin on it. In other people s money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. Buy other peoples money book online at low prices in. Other peoples money dinner with professor john kay summary of discussion november 2015 1 the rise of financialisation over the past 40 years a process of financialisation driven by deregulation, technology and globalisation has transformed the financial industry in. Youll find that kay offers an iconoclastic perspective on the financialization of the global economy. An introduction to other peoples money by john kay youtube.
Other people s money, and how the bankers use it by brandeis, louis dembitz, 18561941. John kay is a visiting professor at the london school of economics. Other peoples money is an engaging and informative narrative that circles but does not quite prove this central point. Where others have jumped in feetfirst, kay provides a headfirst diagnosis of what contribution finance makes to wider society. While other peoples money isnt exactly a pageturner, it offers a compelling look at how, during the boom, a wall street mentality seized even the unsexy world of affordable housing. Review of other peoples money by john kay seeking alpha.
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