Author: F Gerard Adams
Publisher: World Scientific Publishing Company
ISBN: 9813102756
Category : Business & Economics
Languages : en
Pages : 326
Book Description
In recent years the world economy has been undergoing drastic changes, the East Asian miracle, the financial crisis, and today, globalization and the fundamental changes associated with the “new economy”. This book integrates these developments with macroeconomics for business managers and policymakers.Macroeconomics is essential background for the business manager and policymaker. Consequently macroeconomics is an integral part of the business curriculum in mature and developing countries alike. And well it should be. The economy affects decisions by investors, manufacturers, distributors, importers and exporters, etc. in all parts of the world. Often, it is the difference between growth and profitability on one hand, and stagnation or failure on the other. In recent years as the world economy has undergone overwhelming changes, especially in East Asia and now in the advanced countries, understanding what is going on in the local economy and “out there in the world” has become a particular challenge to managers. The new developments, of which the “new economy” is the most recent one, do not supercede the basic theoretical framework of macroeconomics. But they add greatly to the challenge of understanding the economic situation and to its uncertainty.This book was originally written to meet the needs of a business curriculum based on the program at the Sasin Graduate Institute of Business Administration of Chulalongkorn University in Bangkok in collaboration with the Wharton and Kellogg Business Schools in the United States. The book is intended for a broad audience — both domestic and international — that includes mature MBA business students, intermediate level undergraduates, and informed laypersons.
Macroeconomics For Business And Society: A Developed/developing Country Perspective On The "New Economy"
Author: F Gerard Adams
Publisher: World Scientific Publishing Company
ISBN: 9813102756
Category : Business & Economics
Languages : en
Pages : 326
Book Description
In recent years the world economy has been undergoing drastic changes, the East Asian miracle, the financial crisis, and today, globalization and the fundamental changes associated with the “new economy”. This book integrates these developments with macroeconomics for business managers and policymakers.Macroeconomics is essential background for the business manager and policymaker. Consequently macroeconomics is an integral part of the business curriculum in mature and developing countries alike. And well it should be. The economy affects decisions by investors, manufacturers, distributors, importers and exporters, etc. in all parts of the world. Often, it is the difference between growth and profitability on one hand, and stagnation or failure on the other. In recent years as the world economy has undergone overwhelming changes, especially in East Asia and now in the advanced countries, understanding what is going on in the local economy and “out there in the world” has become a particular challenge to managers. The new developments, of which the “new economy” is the most recent one, do not supercede the basic theoretical framework of macroeconomics. But they add greatly to the challenge of understanding the economic situation and to its uncertainty.This book was originally written to meet the needs of a business curriculum based on the program at the Sasin Graduate Institute of Business Administration of Chulalongkorn University in Bangkok in collaboration with the Wharton and Kellogg Business Schools in the United States. The book is intended for a broad audience — both domestic and international — that includes mature MBA business students, intermediate level undergraduates, and informed laypersons.
Publisher: World Scientific Publishing Company
ISBN: 9813102756
Category : Business & Economics
Languages : en
Pages : 326
Book Description
In recent years the world economy has been undergoing drastic changes, the East Asian miracle, the financial crisis, and today, globalization and the fundamental changes associated with the “new economy”. This book integrates these developments with macroeconomics for business managers and policymakers.Macroeconomics is essential background for the business manager and policymaker. Consequently macroeconomics is an integral part of the business curriculum in mature and developing countries alike. And well it should be. The economy affects decisions by investors, manufacturers, distributors, importers and exporters, etc. in all parts of the world. Often, it is the difference between growth and profitability on one hand, and stagnation or failure on the other. In recent years as the world economy has undergone overwhelming changes, especially in East Asia and now in the advanced countries, understanding what is going on in the local economy and “out there in the world” has become a particular challenge to managers. The new developments, of which the “new economy” is the most recent one, do not supercede the basic theoretical framework of macroeconomics. But they add greatly to the challenge of understanding the economic situation and to its uncertainty.This book was originally written to meet the needs of a business curriculum based on the program at the Sasin Graduate Institute of Business Administration of Chulalongkorn University in Bangkok in collaboration with the Wharton and Kellogg Business Schools in the United States. The book is intended for a broad audience — both domestic and international — that includes mature MBA business students, intermediate level undergraduates, and informed laypersons.
Introduction to Business
Author: Lawrence J. Gitman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 1455
Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 1455
Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Macroeconomic Environment Of Business, The: Core Concepts And Curious Connections
Author: Maurice D Levi
Publisher: World Scientific Publishing Company
ISBN: 9814566527
Category : Business & Economics
Languages : en
Pages : 339
Book Description
If you always thought that macroeconomics was too complex and theoretical to understand, this book is the perfect introduction to the subject. The Macroeconomic Environment of Business provides a clear understanding of the economy by focusing on core issues such as inflation, unemployment, interest rates, and economic growth. Each issue and topic is approached in a self-contained way and questions — such as how should one measure a macroeconomic concept; what makes it large or small; and why does the concept matter? — are put forth to readers who are new to the dynamic field of economics. With easy-to-understand explanations and interesting fun facts that link macroeconomics to real life, this book will also be a valuable resource for lecturers who wish to engage students in the study of macroeconomics.
Publisher: World Scientific Publishing Company
ISBN: 9814566527
Category : Business & Economics
Languages : en
Pages : 339
Book Description
If you always thought that macroeconomics was too complex and theoretical to understand, this book is the perfect introduction to the subject. The Macroeconomic Environment of Business provides a clear understanding of the economy by focusing on core issues such as inflation, unemployment, interest rates, and economic growth. Each issue and topic is approached in a self-contained way and questions — such as how should one measure a macroeconomic concept; what makes it large or small; and why does the concept matter? — are put forth to readers who are new to the dynamic field of economics. With easy-to-understand explanations and interesting fun facts that link macroeconomics to real life, this book will also be a valuable resource for lecturers who wish to engage students in the study of macroeconomics.
Economics
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 1603
Book Description
Russell Cooper and Andrew John have written an economics text aimed directly at students from its very inception. You?re thinking, "Yeah, sure. I?ve heard that before." This textbook, Economics: Theory Through Applications, centers around student needs and expectations through two premises:? Students are motivated to study economics if they see that it relates to their own lives.? Students learn best from an inductive approach, in which they are first confronted with a problem, and then led through the process of solving that problem. Many books claim to present economics in a way that is digestible for students; Russell and Andrew have truly created one from scratch. This textbook will assist you in increasing students? economic literacy both by developing their aptitude for economic thinking and by presenting key insights about economics that every educated individual should know. How? Russell and Andrew have done three things in this text to accomplish that goal: Applications Ahead of Theory: They present all the theory that is standard in Principles books. But by beginning with applications, students get to learn why this theory is needed. Learning through Repetition: Important tools appear over and over again, allowing students to learn from repetition and to see how one framework can be useful in many different contexts. A Student?s Table of Contents vs. An Instructor?s Table of Contents: There is no further proof that Russell and Andrew have created a book aimed specifically at educating students about economics than their two tables of contents.
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 1603
Book Description
Russell Cooper and Andrew John have written an economics text aimed directly at students from its very inception. You?re thinking, "Yeah, sure. I?ve heard that before." This textbook, Economics: Theory Through Applications, centers around student needs and expectations through two premises:? Students are motivated to study economics if they see that it relates to their own lives.? Students learn best from an inductive approach, in which they are first confronted with a problem, and then led through the process of solving that problem. Many books claim to present economics in a way that is digestible for students; Russell and Andrew have truly created one from scratch. This textbook will assist you in increasing students? economic literacy both by developing their aptitude for economic thinking and by presenting key insights about economics that every educated individual should know. How? Russell and Andrew have done three things in this text to accomplish that goal: Applications Ahead of Theory: They present all the theory that is standard in Principles books. But by beginning with applications, students get to learn why this theory is needed. Learning through Repetition: Important tools appear over and over again, allowing students to learn from repetition and to see how one framework can be useful in many different contexts. A Student?s Table of Contents vs. An Instructor?s Table of Contents: There is no further proof that Russell and Andrew have created a book aimed specifically at educating students about economics than their two tables of contents.
Toward a Just Society
Author: Martin Guzman
Publisher: Columbia University Press
ISBN: 0231546807
Category : Business & Economics
Languages : en
Pages : 548
Book Description
Joseph Stiglitz is one of the world’s greatest economists. He has made fundamental contributions to economic theory in areas such as inequality, the implications of imperfect and asymmetric information, and competition, and he has been a major figure in policy making, a leading public intellectual, and a remarkably influential teacher and mentor. This collection of essays influenced by Stiglitz’s work celebrates his career as a scholar and teacher and his aspiration to put economic knowledge in the service of creating a fairer world. Toward a Just Society brings together a range of essays whose breadth reflects how Stiglitz has shaped modern economics. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span microeconomics, macroeconomics, inequality, development, law and economics, and public policy. Touching on many of the central debates and discoveries of the field and providing insights on the directions that academic economics could take in the future, Toward a Just Society is an extraordinary celebration of the many paths Stiglitz has opened for economics, politics, and public life.
Publisher: Columbia University Press
ISBN: 0231546807
Category : Business & Economics
Languages : en
Pages : 548
Book Description
Joseph Stiglitz is one of the world’s greatest economists. He has made fundamental contributions to economic theory in areas such as inequality, the implications of imperfect and asymmetric information, and competition, and he has been a major figure in policy making, a leading public intellectual, and a remarkably influential teacher and mentor. This collection of essays influenced by Stiglitz’s work celebrates his career as a scholar and teacher and his aspiration to put economic knowledge in the service of creating a fairer world. Toward a Just Society brings together a range of essays whose breadth reflects how Stiglitz has shaped modern economics. The contributions to this volume, all penned by high-profile authors who have been guided by or collaborated with Stiglitz over the last five decades, span microeconomics, macroeconomics, inequality, development, law and economics, and public policy. Touching on many of the central debates and discoveries of the field and providing insights on the directions that academic economics could take in the future, Toward a Just Society is an extraordinary celebration of the many paths Stiglitz has opened for economics, politics, and public life.
Intermediate Macroeconomics
Author: Douglas Fisher
Publisher: World Scientific
ISBN: 9789810244309
Category : Business & Economics
Languages : en
Pages : 584
Book Description
This book covers the typical material of an intermediate macroeconomics course at the undergraduate level. The approach is both theoretical and statistical, with the theory being limited to algebraic expressions and the statistics to simple and multiple regression and correlation. The coverage is traditional for the course (being IS-LM in its focus), and the tests are of the consumption function, investment function, demand for money, Phillips curve, etc. Every effort is made to explain the statistics, with some explicit statistical material embedded in the text and several ?how to? sections in the Appendix geared to the popular programs Eviews and Excel. There is also a set of Internet links that instructors can readily access in order to supplement and update the data and to use to provide the data for the students to work the exercises.The book is intended as a text for an intermediate economics course and has been used as such at North Carolina State University. There are full sets of review questions, discussion questions, problems, and computer exercises attached to each chapter, all of which have been classroom-tested. In addition to undergraduates (especially advanced undergraduates), graduate instructors will benefit from the book; and both the professional and the graduate student will find the explanations and applications useful in their work.
Publisher: World Scientific
ISBN: 9789810244309
Category : Business & Economics
Languages : en
Pages : 584
Book Description
This book covers the typical material of an intermediate macroeconomics course at the undergraduate level. The approach is both theoretical and statistical, with the theory being limited to algebraic expressions and the statistics to simple and multiple regression and correlation. The coverage is traditional for the course (being IS-LM in its focus), and the tests are of the consumption function, investment function, demand for money, Phillips curve, etc. Every effort is made to explain the statistics, with some explicit statistical material embedded in the text and several ?how to? sections in the Appendix geared to the popular programs Eviews and Excel. There is also a set of Internet links that instructors can readily access in order to supplement and update the data and to use to provide the data for the students to work the exercises.The book is intended as a text for an intermediate economics course and has been used as such at North Carolina State University. There are full sets of review questions, discussion questions, problems, and computer exercises attached to each chapter, all of which have been classroom-tested. In addition to undergraduates (especially advanced undergraduates), graduate instructors will benefit from the book; and both the professional and the graduate student will find the explanations and applications useful in their work.
Macroeconomics
Author: Wendy Carlin
Publisher: Oxford University Press
ISBN: 0198838662
Category :
Languages : en
Pages : 1019
Book Description
At the cutting edge of the subject area, the authors bring the macroeconomics that researchers and policymakers use today into focus. By developing a coherent set of tractable models, the book enables students to explore and make sense of the pressing questions facing global economies.Carlin and Soskice connect students with contemporary research and policy in macroeconomics. The authors' 3-equation model - extended to include the financial system and with an integrated treatment of inequality - equips students with a method they can apply to the enduring challenges stirred by the financial crisis and the Great Recession.Key features* Engaged with the latest developments in macroeconomic research, policy, and debate, the authors make the cutting edge accessible to undergraduate readers* The theme of inequality is integrated throughout in modelling and applications, with incomplete contracts in labour and credit markets underpinning the presence of involuntary unemployment and credit constraints* The content distils business cycles into a 3-equation model of the demand side, the supply side, and the policy maker, providing a realistic and transparent model which students can deploy to address the questions that interest them* Open economy modelling for both flexible and fixed exchange rate regimes builds on the same foundations and handles oil and climate shocks, as well as the Eurozone crisis* Features thorough treatment of the financial system and how to integrate the financial and business cycles, including coverage on policy design and implementation for financial stability in the wake of the 2008-9 financial crisis and an exploration of hysteresis in the context of the Great Recession* Comprehensive coverage of monetary policy including the ample reserves regime and of fiscal policy and debt dynamics* Unified treatment of exogenous and endogenous growth models emphasizing the different mechanisms through which diminishing returns to capital can be offset, while Chapter 17 on the ICT revolution examines the implications of innovation and technological change on the future of work and inequality* Contains a chapter considering contemporary quantitative macroeconomics research - including the Heterogeneous Agent New Keynesian (HANK) model - exposing students to the tools that researchers currently use, as well as the benefits and limitations of these methods* End-of-chapter 'Checklist questions' enable students to assess their comprehension, while 'Problems' prompt students to apply independent critical thought* Also available as an e-book enhanced with access to The Macroeconomic Simulator, Animated Analytical Diagrams, and self-assessment activities enabling students to recap content and investigate how models work at their own paceDigital formats and resourcesThis title is available for students and institutions to purchase in a variety of formats and is supported by online resources.The e-book offers a mobile experience and convenient access along with self-assessment activities, multi-media content, and links that offer extra learning support. For more information visit:www.oxfordtextbooks.co.uk/ebooks/This title is supported by a range of online resource for students including multiple-choice-questions with instant feedback, interactive Animated Analytical Diagrams, access to The Macroeconomic Simulator, web appendices which develop chapters 1, 4, 7, and 18, In addition, lecturers can access PowerPoint slides to accompany each chapter and answers to the problems and questions set in the book.
Publisher: Oxford University Press
ISBN: 0198838662
Category :
Languages : en
Pages : 1019
Book Description
At the cutting edge of the subject area, the authors bring the macroeconomics that researchers and policymakers use today into focus. By developing a coherent set of tractable models, the book enables students to explore and make sense of the pressing questions facing global economies.Carlin and Soskice connect students with contemporary research and policy in macroeconomics. The authors' 3-equation model - extended to include the financial system and with an integrated treatment of inequality - equips students with a method they can apply to the enduring challenges stirred by the financial crisis and the Great Recession.Key features* Engaged with the latest developments in macroeconomic research, policy, and debate, the authors make the cutting edge accessible to undergraduate readers* The theme of inequality is integrated throughout in modelling and applications, with incomplete contracts in labour and credit markets underpinning the presence of involuntary unemployment and credit constraints* The content distils business cycles into a 3-equation model of the demand side, the supply side, and the policy maker, providing a realistic and transparent model which students can deploy to address the questions that interest them* Open economy modelling for both flexible and fixed exchange rate regimes builds on the same foundations and handles oil and climate shocks, as well as the Eurozone crisis* Features thorough treatment of the financial system and how to integrate the financial and business cycles, including coverage on policy design and implementation for financial stability in the wake of the 2008-9 financial crisis and an exploration of hysteresis in the context of the Great Recession* Comprehensive coverage of monetary policy including the ample reserves regime and of fiscal policy and debt dynamics* Unified treatment of exogenous and endogenous growth models emphasizing the different mechanisms through which diminishing returns to capital can be offset, while Chapter 17 on the ICT revolution examines the implications of innovation and technological change on the future of work and inequality* Contains a chapter considering contemporary quantitative macroeconomics research - including the Heterogeneous Agent New Keynesian (HANK) model - exposing students to the tools that researchers currently use, as well as the benefits and limitations of these methods* End-of-chapter 'Checklist questions' enable students to assess their comprehension, while 'Problems' prompt students to apply independent critical thought* Also available as an e-book enhanced with access to The Macroeconomic Simulator, Animated Analytical Diagrams, and self-assessment activities enabling students to recap content and investigate how models work at their own paceDigital formats and resourcesThis title is available for students and institutions to purchase in a variety of formats and is supported by online resources.The e-book offers a mobile experience and convenient access along with self-assessment activities, multi-media content, and links that offer extra learning support. For more information visit:www.oxfordtextbooks.co.uk/ebooks/This title is supported by a range of online resource for students including multiple-choice-questions with instant feedback, interactive Animated Analytical Diagrams, access to The Macroeconomic Simulator, web appendices which develop chapters 1, 4, 7, and 18, In addition, lecturers can access PowerPoint slides to accompany each chapter and answers to the problems and questions set in the book.
Economics for the Common Good
Author: Jean Tirole
Publisher: Princeton University Press
ISBN: 0691192251
Category : Business & Economics
Languages : en
Pages : 582
Book Description
"When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a 'dismal science,' is a positive force for the common good. Economists are rewarded for writing technical papers in scholarly journals, not joining in public debates. But Tirole says we urgently need economists to engage with the many challenges facing society, helping to identify our key objectives and the tools needed to meet them. To show how economics can help us realize the common good, Tirole shares his insights on a broad array of questions affecting our everyday lives and the future of our society, including global warming, unemployment, the post-2008 global financial order, the euro crisis, the digital revolution, innovation, and the proper balance between the free market and regulation. Providing a rich account of how economics can benefit everyone, Economics for the Common Good sets a new agenda for the role of economics in society"--Provided by publisher.
Publisher: Princeton University Press
ISBN: 0691192251
Category : Business & Economics
Languages : en
Pages : 582
Book Description
"When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a 'dismal science,' is a positive force for the common good. Economists are rewarded for writing technical papers in scholarly journals, not joining in public debates. But Tirole says we urgently need economists to engage with the many challenges facing society, helping to identify our key objectives and the tools needed to meet them. To show how economics can help us realize the common good, Tirole shares his insights on a broad array of questions affecting our everyday lives and the future of our society, including global warming, unemployment, the post-2008 global financial order, the euro crisis, the digital revolution, innovation, and the proper balance between the free market and regulation. Providing a rich account of how economics can benefit everyone, Economics for the Common Good sets a new agenda for the role of economics in society"--Provided by publisher.
Advanced Macroeconomics
Author: Filipe R. Campante
Publisher: LSE Press
ISBN: 1909890707
Category : Business & Economics
Languages : en
Pages : 420
Book Description
Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions – ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors’ own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.
Publisher: LSE Press
ISBN: 1909890707
Category : Business & Economics
Languages : en
Pages : 420
Book Description
Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions – ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors’ own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.
Finance and the Good Society
Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 140084617X
Category : Business & Economics
Languages : en
Pages : 310
Book Description
Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.
Publisher: Princeton University Press
ISBN: 140084617X
Category : Business & Economics
Languages : en
Pages : 310
Book Description
Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.