Other People's Money
Masters of the Universe or Servants of the People?
by John Kay
The financial sector is critical to the functioning of our economy and plays an important part in our everyday lives. But are all of its practices actually beneficial to us, to the economy, or to society in general?
Other People's Money argues that modern banking has moved away from supporting the economy and serving society and is now isolated from the "real world," making potentially disastrous decisions with little regard for anyone outside the sector. Exploring how banks operate and the practices that can be most damaging, alongside suggestions for how the sector can be reformed, it explains everything you need to know about the failings of modern banking-and what can be done to change things.
You will learn:
- How internal trading makes the finance sector unstable and unsustainable
- Why increasing regulation will not make modern banking less destructive
- Why penalizing individual bankers is key to reforming the sector.