{"product_id":"other-peoples-money-john-kay-9781610397155","title":"Other People's Money by John Kay","description":"\u003ch1\u003eOther People's Money: The Real Business of Finance by John Kay\u003c\/h1\u003e\n\u003ch2\u003eAwards \u0026amp; Accolades\u003c\/h2\u003e\n\u003ch3\u003e3.9\/5 Stars on Goodreads\u003c\/h3\u003e\n\u003cul\u003e\n\u003cli\u003eA Financial Times Book of the Year, 2015\u003c\/li\u003e\n\u003cli\u003eAn Economist Best Book of the Year, 2015\u003c\/li\u003e\n\u003cli\u003eA Bloomberg Best Book of the Year, 2015\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003eSynopsis\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eThe finance sector of Western economies is too large and attracts too many of the smartest college graduates.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eFinancialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes \u003cstrong\u003etoo little attention to the search for new investment opportunities\u003c\/strong\u003e 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.\u003c\/p\u003e\n\u003cp\u003eWhy? \u003cstrong\u003eWhat is finance for?\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eJohn Kay, with wide \u003cstrong\u003epractical and academic experience\u003c\/strong\u003e in the world of finance, understands the operation of the financial sector better than most.\u003c\/p\u003e\n\u003cp\u003eHe believes in good banks and effective asset managers, but good banks and effective asset managers are not what he sees.\u003c\/p\u003e\n\u003cp\u003eIn a dazzling and \u003cstrong\u003erevelatory tour of the financial world\u003c\/strong\u003e as it has emerged from the wreckage of the 2008 crisis, Kay does not flinch in his criticism: we do need some of the things that \u003cstrong\u003eCitigroup and Goldman Sachs\u003c\/strong\u003e do, but we do not need Citigroup and Goldman to do them.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eAnd many of the things done by Citigroup and Goldman do not need to be done at all.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eThe finance sector needs to be reminded of its primary purpose:\u003c\/strong\u003e to manage other people's money for the benefit of businesses and households.\u003c\/p\u003e\n\u003cp\u003eIt is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of \u003cstrong\u003eexploiting the weakness of other algorithms\u003c\/strong\u003e for computerized trading in securities.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eTo travel further down that road leads to ruin.\u003c\/strong\u003e\u003c\/p\u003e\n\u003ch2\u003eAbout the Author: John Kay\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eJohn Kay is a prominent British economist.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eAs well as a \u003cstrong\u003eFinancial Times columnist and author \u003c\/strong\u003eknown for his insightful writing on economics, finance, and business. He is a visiting professor at the London School of Economics, a fellow of St John's College, Oxford, and a regular contributor to the Financial Times.\u003c\/p\u003e\n\u003cp\u003eKay's career spans academia, consulting, and company directorships, and he is recognized for his ability to explain complex ideas clearly.\u003c\/p\u003e\n\u003ch3\u003eBackground and Accomplishments:\u003c\/h3\u003e\n\u003ch4\u003eEducation and Career:\u003c\/h4\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eAcademic Background: \u003c\/strong\u003eEducated at the Royal High School, Edinburgh University, and Nuffield College, Oxford.\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFellow of St John's College, Oxford: \u003c\/strong\u003eA long-standing member since 1970.\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eEstablished the Institute for Fiscal Studies (IFS): \u003c\/strong\u003eHe served as research director and director, transforming it into a leading think tank.\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eFounded London Economics: \u003c\/strong\u003eA consulting business that grew into a major force in economic consulting.\n\u003cul\u003e\n\u003cli\u003eHeld chairs at London Business School, the University of Oxford, and the London School of Economics.\u003c\/li\u003e\n\u003cli\u003eFirst Director of the Said Business School at Oxford University.\u003c\/li\u003e\n\u003cli\u003eFellow of the British Academy and Royal Society of Edinburgh.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3\u003eAuthor and Columnist:\u003c\/h3\u003e\n\u003ch4\u003eFinancial Times Columnist:\u003c\/h4\u003e\n\u003cp\u003eA regular contributor, known for his insightful analysis of economic and financial issues.\u003c\/p\u003e\n\u003ch4\u003eAuthor of numerous books:\u003c\/h4\u003e\n\u003cp\u003eIncluding \u003cem\u003eThe Truth About Markets\u003c\/em\u003e, \u003cem\u003eObliquity\u003c\/em\u003e, \u003cem\u003eThe Long and the Short of It\u003c\/em\u003e, and \u003cem\u003eOther People's Money\u003c\/em\u003e.\u003c\/p\u003e\n\u003ch3\u003eRecognition for his writing:\u003c\/h3\u003e\n\u003cp\u003eHis work has been recognized with awards and accolades, including the \u003cstrong\u003eSenior Wincott Award\u003c\/strong\u003e for Financial Journalism.\u003c\/p\u003e\n\u003ch4\u003e\"The Corporation in the Twenty-First Century\":\u003c\/h4\u003e\n\u003cp\u003eHis most recent book explores the changing role of corporations.\u003c\/p\u003e\n\u003ch3\u003eKey Themes in his Work:\u003c\/h3\u003e\n\u003cp\u003eFocus on the relationship between economics, finance, and business: He examines \u003cstrong\u003ehow economic principles impact corporate behavior\u003c\/strong\u003e and financial markets.\u003c\/p\u003e\n\u003cp\u003eCritique of traditional economic models: He often \u003cstrong\u003echallenges assumptions about rational choice\u003c\/strong\u003e and corporate selfishness.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003e\n\u003cstrong\u003eEmphasis on the importance of understanding and navigating uncertainty: \u003c\/strong\u003eHis book \u003cem\u003eRadical Uncertainty\u003c\/em\u003e explores this theme.\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003eAdvocates for a more responsible and sustainable approach to finance:\u003c\/strong\u003e He challenges the status quo in the financial industry. \u003c\/li\u003e\n\u003c\/ul\u003e","brand":"Bust-Down Books","offers":[{"title":"Default Title","offer_id":49901021331771,"sku":"1610397150","price":7.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0855\/2077\/7531\/files\/9781610397155.jpg?v=1748482536","url":"https:\/\/bustdownbooks.com\/products\/other-peoples-money-john-kay-9781610397155","provider":"Bust-Down Books","version":"1.0","type":"link"}