We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. It is an aberration when some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized. As john kay shows in his new book, other peoples money. 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. His new book, other peoples money, is about as good a demonstration of kays skills as economist, thinker and writer as you are likely to find. A bloomberg best book of the year, 2015 other peoples money is not merely another broadside content to denounce finances dysfunction, but rather a masterly attempt to locate its various origins and connect them with analytical and theoretical rigor. 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. Next on your list of the best investing books for beginners is john lanchesters how to speak money. John kay, is a visiting professor of economics at the london school of economics and a fellow of st john s college, oxford university. John kay, a distinguished economist with wide experience of the financial sector, argues that the industrys perceived profitability is partly illusory and partly an appropriation of wealth created elsewhere of other peoples money.
Investing books for beginners five books expert recommendations. Kay is the author of nine previously published books and coauthor of the british tax system with mervyn king. Other peoples money ebook by john kay rakuten kobo. Access a free summary of other peoples money, by john kay and 20,000 other business, leadership and nonfiction books on getabstract. Other peoples money is an engaging and informative narrative that circles but does not quite prove this central point. Author john kay lectured in economics at oxford from 1971 to 1978, is visiting professor of economics at the london school of economics, and is a regular editorial contributor to the financial times.
John kay echoes the sentiment, noting that as exchanging bits of paper cannot make profits for everyone, it is very likely that much of finance. Buy other peoples money book online at low prices in india. Other peoples money, by john kay the new york times. The real business of finance by john kay, public affairs books, 2015. John kay deciphered the complicated world of finance and presented in an intriguing and logical way. About the author john kay is a visiting professor at the london school of economics and a fellow of st johns college, oxford. Raising interest rates at this stage by bank negara will only. The real business of finance by kay, professor of industrial policy at the london business school and fellow john isbn.
John kay is a visiting professor at the london school of economics. A financial times book of the year, 2015an economist best boo. The directors of banks and corporations, being the managers rather of other peoples money than of their own, it cannot well be expected, that they should watch over it withanxious vigilance. They have flourished, especially since 2008, and will continue to thrive unless and until in kay s words we get back to work. Patrick honohan on an economist who argues that the world financial crisis has been contained but not settled. John anderson kay, cbe, frse, fba, facss born 1948 is a british economist. After millions of words describing and diagnosing the financial crises of 2008 and their continuing.
A financial times book of the year, 2015 an economist best book of the year, 2015 a bloomberg best book of the year, 201. Buy other peoples money book online at low prices in. Review of other peoples money by john kay seeking alpha. Whether his specific proposals are the best approach, policy. Other peoples money 2015 offers a detailed breakdown of the financial sector.
Sep 25, 2015 other peoples money is an engaging and informative narrative that circles but does not quite prove this central point. The real business of finance, which provides an accessible expose of the complex and layered modern financial system and the failure of laws and regulations to protect the public. The real business of finance, in the financial world when conflicts in the laissezfaire world of adam smith, when individuals pursue their own selfish interests they unwittingly contribute to the benefit of all. Other peoples money posted on august 28, 2015 by diane coyle catching up with postholiday stuff has slowed me down, but i finished john kays new book. John kay echoes the sentiment, noting that as exchanging bits of paper cannot make profits for. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized. About the author john kay is a visiting professor at the london school of economics and a fellow of st john s college, oxford. A bloomberg best book of the year, 2015 other people s money is not merely another broadside content to denounce finance s dysfunction, but rather a masterly attempt to locate its various origins and connect them with analytical and theoretical rigor. Apr 21, 2016 in other people s money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. In other peoples money, economist and ft columnist john kay.
John lanchester was a novelist who set out to write a book about london life in the first decade of the 21st century and realised that finance was a big part of london life in the first decade of the 21st century. The charge is an old one that has taken on new relevance in. John kay, a distinguished economist with wide experience of the financial sector, argues that the industry s perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere of other people s money. He has been a fellow of st johns college, oxford, since 1970. 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. 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 economies is too large and attracts too many of the smartest college graduates. First, a disclaimeri think john kay is a quite brilliant economist, thinker and writer. Sep 22, 2015 author john kay sets forth the theme of his book, and its title, at the beginning. The introductory chapter of my latest book other peoples money. Sep 22, 2015 other peoples money the real business of finance by john kay. Sep 03, 2015 author john kay lectured in economics at oxford from 1971 to 1978, is visiting professor of economics at the london school of economics, and is a regular editorial contributor to the financial times.
The real business of finance by john kay online at alibris. Joosr ltd to successfully change banking practices, we must treat finance like any other industry. John kay, a distinguished economist with wide experience of the financial sector, argues that the industry s perceived profitability is partly illusory and partly an appropriation of wealth created elsewhere of other people s money. Other peoples money by john kay the actuary, the official. Kay provides by way of context a panoptic overview of the history, evolution and structure of. The directors of banks and corporations, being the managers rather of other peoples money than of their own, it cannot well be expected, that they should watch over it.
The real business of finance paperback september 27, 2016 by john kay author. 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. He is a director of several public companies and contributes a weekly column to the financial times. In other peoples money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. 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. Dealing on the basis of historic price series was once described as technical analysis, or chartism and there are chartists still. Kay provides by way of context a panoptic overview of the history, evolution and. Bagli, the new york times reporter who first broke the story of the sale of stuyvesant town peter cooper village takes listeners inside the most spectacular failure in real estate history, using this single deal as a lens to see how and why the real estate crisis happened.
The real business of finance by john kay at indigo. Read the introductory chapter of my latest book other peoples money. The finance sector needs to be reminded of its primary purpose. Read this below which tells us that the najib administration is going to use our savings to prop up our stock market. A financial times book of the year, 2015 an economist best book of the year, 2015 a bloomberg best book of the year, 2015 other peoples money is not merely another broadside content to denounce finances dysfunction, but rather a masterly attempt to locate its various origins and connect them with analytical and theoretical rigor. Where others have jumped in feetfirst, kay provides a headfirst diagnosis of what contribution finance makes to wider society.
Everyday low prices and free delivery on eligible orders. John kay, a distinguished economist with wide experience of the financial sector, argues that the industrys perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere of other peoples money. It is difficult to get a man to understand something, when his salary depends on his not understanding it. Author john kay sets forth the theme of his book, and its title, at the beginning. Finance is a business like any other, and should be judged by reference to the same principles the same tools of analysis, the same metrics of value that we apply to other industries, such as railways, or retailing or electricity supply. The alternative, which is to use our dwindling forex exchange reserves to support the ringgit, is not the preferred option. Read other peoples money the real business of finance by john kay available from rakuten kobo. As these three attributes are not always complementary, he is the rarest of breeds.
Other peoples money by john kay free ebooks download. Other peoples money by john kay, 9781610397155, available at book depository with free delivery worldwide. The theme of broken governance and accountability is echoed in economist john kay s other people s money. Other peoples money deals with the state of the financial services industry. Free shipping and pickup in store on eligible orders. Sep 27, 2016 other people s money by john kay, 9781610397155, available at book depository with free delivery worldwide. John kay, a distinguished economist with wide experience of the financial sector. I will not hesitate to draw lessons from these industries. The theme of broken governance and accountability is echoed in economist john kays other peoples money. If we wish to change the attitudes and actions of bankers, we must change how we view the sector as a whole. Other peoples money quotes showing of 34 the great muckraker upton sinclair had expressed a deep insight into the relationship between the world of ideas and the world of practical men.
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