Far too much of a good thing the introductory chapter of my latest book other people s money. John kay deciphered the complicated world of finance and presented in an intriguing and logical way. He is also a regular contributor to the financial times and the author of the books obliquity and the long and short of it. Next on your list of the best investing books for beginners is john lanchesters how to speak money. Buy other peoples money book online at low prices in. It is difficult to get a man to understand something, when his salary depends on his not understanding it. Other people s money deals with the state of the financial services industry. 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 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. Other peoples money professor john kay professor wouter.
John anderson kay, cbe, frse, fba, facss born 1948 is a british economist. Chair, professor of economics lse, codirector of the centre for macroeconomics. 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 people s money. Other peoples money, by john kay in an 1814 letter, thomas jefferson complained that the financial sector of his day was populated by adventurers who burthen all the interchanges of. It was based on the play of the same name by jerry sterner. I was most impressed by how he explained the role of cds credit default swaps, moral hazard, and cdo collateralized debt obligation during the financial crisis in 2008. 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. And many of the things done by citigroup and goldman do not need to be done at all. Kay is the author of nine previously published books and coauthor of the british tax system with mervyn king. Buy other peoples money book online at low prices in india. Other peoples money ebook by john kay 9781610396042. Other peoples money by john kay publicaffairs publicaffairs books. It acknowledges the essential role of finance in modern economies but levels three critical charges at modern financial systems.
Author john kay, a seasoned british economist, teaches at the london school of economics, writes influential weekly columns for the financial times and has authored nine books. Read other people s money the real business of finance by john kay available from rakuten kobo. The directors of banks and corporations, being the managers rather of other people s money than of their own, it cannot well be expected, that they should watch over it withanxious vigilance. Author john kay sets forth the theme of his book, and its title, at the beginning. Description other people s money by john kay a financial times book of the year, 2015 an economist best book of the year, 2015 a 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. Other peoples money, by john kay the new york times. 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. A financial times book of the year, 2015 an economist best book of the year, 2015 a bloomberg best book of the year, 201.
Patrick honohan on an economist who argues that the world financial crisis has been contained but not settled. Sep 27, 2016 author john kay sets forth the theme of his book, and its title, at the beginning. A financial times book of the year, 2015an economist best boo. The financial sector, he shows, has grown too large, detached itself from ordinary business and. 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 people s 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. In other peoples money, economist and ft columnist john kay.
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. The real business of finance, which provides an accessible expose of the complex and layered modern financial system and the failure. The film adaptation was directed by award winner norman jewison, and written by alvin sargent. 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. 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. Professor and financial times columnist john kay deftly explains the development and ramifications of the current global financial system. He was the first dean of oxfords said business school and has held chairs at london business school, the university of oxford, and the london school of economics. Sep 25, 2015 other peoples money is an engaging and informative narrative that circles but does not quite prove this central point. Stream and download audiobooks to your computer, tablet or mobile phone. Get the key points from this book in less than 10 minutes. In other people s money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. Department of economics and centre for macroeconomics public lecture.
Other people s money is a 1991 american comedydrama film starring danny devito, gregory peck and penelope ann miller. Apr 21, 2016 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. The real business of finance by john kay, public affairs books, 2015. In other people s money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. The global economic scene, with its practices and structures, has become impossible for any of us to ignore, despite its daunting complexity. 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. The traditional bank managers culture of long lunches and afternoons on the golf course may have yielded more useful information about business than the bloomberg terminal. John kay is an economics professor and has been a fellow of st. Other people s money by john kay, 9781610397155, available at book depository with free delivery worldwide. Kay provides by way of context a panoptic overview of the history, evolution and structure of.
About the author john kay is a visiting professor at the london school of economics and a fellow of st john s college, oxford. 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. This important book is simultaneously a clear primer on modern financial systems and a scathing indictment of them. First, a disclaimeri think john kay is a quite brilliant economist, thinker and writer. 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 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, 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 people s money. The real business of finance by john kay at indigo. John kay is a visiting professor at the london school of economics.
The theme of broken governance and accountability is echoed in economist john kay s other people s money. 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. Other peoples money, by john kay the ft columnist argues that banks have turned away from the real economy to trade with each other share on twitter opens new window. Far too much of a good thing the introductory chapter of my latest book other peoples money. Jan 11, 2017 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. 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. With remarkable textual clarity and a finetuned dramatic sensibility, charles bagli has recreated the extraordinarily high stakes poker game that was the largest real estate deal in u. In other peoples money, economist and ft columnist john kay confirms his place among the ranks of these inconvenient critics. Other peoples money, john kay 9781781254455 boeken. Whether his specific proposals are the best approach, policy wont change unless many more people recognize the issues and demand better. Other peoples money wins a saltire literary award john kay. Oct 27, 2015 in other people s money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector.
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. Everyday low prices and free delivery on eligible orders. Sep 01, 2015 john kay, economist and financial times columnist, asks in his book other peoples money why financial services are so profitable. Masters of the universe or servants of the people ia a book from financial writer, scholar and genius john kay. 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. Review of other peoples money by john kay seeking alpha. Kay provides by way of context a panoptic overview of the history, evolution and. 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. 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. Kay is an admirable debunker of myths and false beliefshe can see. The last third of the book insightfully addresses reform, which, refreshingly, kay stresses is not the same as regulation.
On november 24th, john accepted the saltire society literary award for best nonfiction book of 2016 for other peoples money, of which the society says. 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. Johns college at the university of oxford since 1970. John kay, economist and financial times columnist, asks in his book other people s money why financial services are so profitable. According to john kay, a visiting professor at the london school of economics and a regular contributor to the financial times, the finance sector is too large and too powerful. The real business of finance by john kay online at alibris. Read the introductory chapter of my latest book other peoples money. I was most impressed by how he explained the role of cds credit default swaps, moral hazard, and cdo collateralized debt. John kay, is a visiting professor of economics at the london school of economics and a fellow of st john s college, oxford university. Sep 22, 2015 the theme of broken governance and accountability is echoed in economist john kay s other people s money. An introduction to other peoples money by john kay youtube. 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 posted on august 28, 2015 by diane coyle catching up with postholiday stuff has slowed me down, but i finished john kay s new book. Aug, 2015 an introduction to other peoples money by john kay jo charrington. Common sense suggests that if a closed circle of people continuously exchange bits of paper with each other, the total value of. Brandeis full audio book money, wealth, business, politics other. After millions of words describing and diagnosing the financial crises of 2008 and their continuing. The theme of broken governance and accountability is echoed in economist john kays other peoples money. Other peoples money 2015 offers a detailed breakdown of the financial sector. As john kay shows in his new book, other peoples money. The finance sector needs to be reminded of its primary purpose. All of johns books are available to purchase via this webpage. Can you please look at the channel next epsode subscribe and like other people s money by louis d.
The real business of finance audiobook by john kay. 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. 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. Other peoples money free summary by john kay getabstract.