Finance, Society and Sustainability: How to Make the Financial System Work for the Economy, People and PlanetSpringer, 10 ago 2017 - 304 pagine The financial system is vital to our prosperity; much of modern life would be impossible without it. However, since its inception, insiders' privileged position has made the system prone to abuse, often resulting in financial scandals, crises and asset bubbles. This book investigates the extent to which the finance sector is fulfilling a useful social function, and to what extent its activities are actually counter-productive or damaging to the economy. This book argues that in recent years, the financial system as a whole has evolved in such a way that non-productive activities now dwarf its useful social purpose. These activities are subsidised, protected and supported by the tax-payer, whilst legislation and regulation - attempts to control the industry - actually direct the sector towards these non-productive activities. This is a dangerous situation, as it misallocates society's capital, is the source of instability and inequality, and diverts resources from useful activities to itself. Finance and Sustainability highlights the theoretical functions of the finance sector in comparison to what it achieves in reality, combining financial theory and knowledge of industry practice to investigate where lending and investment are directed and how risks are managed. The author explores the developmental path of the global economy, to argue that it is inherently un-productive and unsustainable. This book proposes practical suggestions for practitioners and regulators which, if implemented, could bring about a more efficient, successful and useful financial sector. |
Sommario
1 | |
2 Dramatis Personae | 27 |
3 The Potemkin Market | 52 |
4 The Sisyphus Savings System | 77 |
5 La Grande Illusion | 100 |
6 A Kind of Magic | 133 |
7 The Economys Helminths | 158 |
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Finance, Society and Sustainability: How to Make the Financial System Work ... Nick Silver Anteprima non disponibile - 2017 |
Parole e frasi comuni
accessed achieve activity allocate capital asset class asset managers asset owners Bank of England billion boost borrow capital markets caused central bank Chapter China climate change contributions corporate cost create money damage debt levels deposits economic growth economy efficient electronic money environmental equity markets example fees Figure finance sector financial assets financial crisis financial markets financial system FinTech free markets future global hedge fund hence incentives incentivised income increase inequality inflation institutions insurance companies interest rates intermediaries investment banks investment manager investors largest lending leverage loans long-term low-carbon economy mandate maximise means mortgage-backed securities mortgages PAYGO payments pension funds people’s population problem profits proportion reduce regulation retire revenue risk savers savings channel share price shareholder value short-term society Sovereign Wealth Funds spending sustainable SWFs theory traded trillion workers World Bank