Other people's money : masters of the universe or servants of the people? / by John Kay
By: Kay, John.Publisher: London, U.K. : Profile Books, 2015Description: xii, 356 p. ; 23 cm.ISBN: 9781781254431.Subject(s): Financial institutions | Financial systems | Banks | Economy | WealthOnline resources: Download as an eBook
|Item type||Home library||Call number||URL||Status||Notes||Date due||Item reserves|
|Book||Australia||615 KAY 2015 (Browse shelf)||Available|
|EBook||International||EBL Ebook (Browse shelf)||Link to resource||eBook||Available as an ebook here|
|Book||New Zealand||615 OTH (Browse shelf)||Available|
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FINANCIALISATION: History -- Risk -- Intermediation -- Profits. THE FUNCTIONS OF FINANCE: Capital allocation -- The deposit channel -- The investment channel. POLICY: Regulation -- Economic policy -- Reform -- The future of finance.
Argues that the financial sector's profitability is partly illusory and partly an appropriation of wealth created elsewhere - other people's money. Opines the sector has grown too large and self-generating, and that it has failed us through greed and misappropriation.