Other people's money
Subtitle: the real business of finance
By: John Kay
Edition: First US edition.
Publisher: PublicAffairs
Published: 2015
Language: eng
Number of pages: 336
ISBN-13: 9781610396035
Subjects: Financial institutions; Finance; Corporations; Speculation; Investments; Banks and banking
Description: "The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary market dealing in existing assets. Regulation has contributed more to the problems than the solutions"--Dust jacket flap.
Notes: "The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities and the stewardship of existing ones, and far too much to secondary market dealing in existing assets. Regulation has contributed more to the problems than the solutions"--Front dust jacket flap.

Includes bibliographical references (pages 297-320) and index.

Originally published: Great Britain : Profile Books Ltd., 2015, under title: Other people's money : masters of the universe or servants of the people? 9781781254431
Table of contents: title: Prologue : The parable of the ox; title: Introduction : Far too much of a good thing; title: Part I. Financialisation. History ; Risk; Intermediation; Profits; title: Part II. The functions of finance. Capital allocation ; The deposit channel ; The investment channel; title: Part III. Regulation ; Economic policy ; Reform ; The future of finance; title: Epilogue : The emperor's guard's new clothes.