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Author: Thomas Piketty
Publisher: HMH
ISBN: 0544663292
Category : Business & Economics
Languages : en
Pages : 229
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Book Description
Reflections on politics, the economy, and the modern world by the #1 New York Times–bestselling author of Capital in the Twenty-First Century. Thomas Piketty’s work has proved that unfettered markets lead to increasing inequality, and that without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands, threatening democracy. For years, his newspaper columns have pierced the surface of current events to reveal the economic forces underneath. Why Save the Bankers? collects these columns from the period between the September 2008 collapse of Lehman Brothers and the November 2015 terrorist attacks in Paris. In crystalline prose, Piketty examines a wide range of topics, and along the way he decodes the European Union’s economic troubles, weighs in on oligarchy in the United States, wonders whether debts actually need to be paid back, and discovers surprising lessons about inequality by examining the career of Steve Jobs. Coursing with insight and flashes of wit, these brief essays offer a view of recent history through the eyes of one of the most influential economic thinkers of our time. “Easy to follow for readers without much knowledge of economics, especially when [Piketty] picks apart topics that defy classical economic logic; in this he resembles Paul Krugman, who similarly writes clearly on complex topics . . . Helps make sense of recent financial history.” —Kirkus Reviews “Anyone with an interest in politics, monetary policy, or international diplomacy will get a kick out of Piketty’s clear discussion.” —Shelf Awareness “If you have been influenced by Piketty’s landmark work on inequality, make sure to read this next.” —Naomi Klein, author of The Shock Doctrine and This Changes Everything
Author: Thomas Piketty
Publisher: HMH
ISBN: 0544663292
Category : Business & Economics
Languages : en
Pages : 229
Get Book
Book Description
Reflections on politics, the economy, and the modern world by the #1 New York Times–bestselling author of Capital in the Twenty-First Century. Thomas Piketty’s work has proved that unfettered markets lead to increasing inequality, and that without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands, threatening democracy. For years, his newspaper columns have pierced the surface of current events to reveal the economic forces underneath. Why Save the Bankers? collects these columns from the period between the September 2008 collapse of Lehman Brothers and the November 2015 terrorist attacks in Paris. In crystalline prose, Piketty examines a wide range of topics, and along the way he decodes the European Union’s economic troubles, weighs in on oligarchy in the United States, wonders whether debts actually need to be paid back, and discovers surprising lessons about inequality by examining the career of Steve Jobs. Coursing with insight and flashes of wit, these brief essays offer a view of recent history through the eyes of one of the most influential economic thinkers of our time. “Easy to follow for readers without much knowledge of economics, especially when [Piketty] picks apart topics that defy classical economic logic; in this he resembles Paul Krugman, who similarly writes clearly on complex topics . . . Helps make sense of recent financial history.” —Kirkus Reviews “Anyone with an interest in politics, monetary policy, or international diplomacy will get a kick out of Piketty’s clear discussion.” —Shelf Awareness “If you have been influenced by Piketty’s landmark work on inequality, make sure to read this next.” —Naomi Klein, author of The Shock Doctrine and This Changes Everything
Author: Nomi Prins
Publisher: Bold Type Books
ISBN: 1568585632
Category : Business & Economics
Languages : en
Pages : 493
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Book Description
In this searing exposéformer Wall Street insider Nomi Prins shows how the 2007-2008 financial crisis turbo-boosted the influence of central bankers and triggered a massive shift in the world order. Central banks and international institutions like the IMF have overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks or balances. Meanwhile, the open door between private and central banking has ensured endless opportunities for market manipulation and asset bubbles -- with government support. Through on-the-ground reporting, Prins reveals how five regions and their central banks reshaped economics and geopolitics. She discloses how Mexico navigated its relationship with the US while striving for independence and how Brazil led the BRICS countries to challenge the US dollar's hegemony. She explains how China's retaliation against the Fed's supremacy is aiding its ongoing ascent as a global superpower and how Japan is negotiating the power shift from the West to the East. And she illustrates how the European response to the financial crisis fueled instability that manifests itself in everything from rising populism to the shocking Brexit vote. Packed with tantalizing details about the elite players orchestrating the world economy -- from Janet Yellen and Mario Draghi to Ben Bernanke and Christine Lagarde -- Collusion takes the reader inside the most discreet conversations at exclusive retreats like Jackson Hole and Davos. A work of meticulous reporting and bracing analysis, Collusion will change the way we understand the new world of international finance.
Author: Anat Admati
Publisher: Princeton University Press
ISBN: 0691251703
Category : Business & Economics
Languages : en
Pages : 624
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Book Description
A Wall Street Journal, Financial Times, and Bloomberg Businessweek Book of the Year Why our banking system is broken—and what we must do to fix it New bank failures have been a rude awakening for everyone who believed that the banking industry was reformed after the Global Financial Crisis—and that we’d never again have to choose between massive bailouts and financial havoc. The Bankers’ New Clothes uncovers just how little things have changed—and why banks are still so dangerous. Writing in clear language that anyone can understand, Anat Admati and Martin Hellwig debunk the false and misleading claims of bankers, regulators, politicians, academics, and others who oppose effective reform, and they explain how the banking system can be made safer and healthier. Thoroughly updated for a world where bank failures have made a dramatic return, this acclaimed and important book now features a new preface and four new chapters that expose the shortcomings of current policies and reveal how the dominance of banking even presents dangers to the rule of law and democracy itself.
Author: Martin Mayer
Publisher:
ISBN: 9780679400103
Category : Business & Economics
Languages : en
Pages : 576
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Book Description
Author: Liaquat Ahamed
Publisher: Penguin
ISBN: 9781594201820
Category : Business & Economics
Languages : en
Pages : 584
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Book Description
Argues that the stock market crash of 1929 and subsequent Depression occurred as a result of poor decisions on the part of four central bankers who jointly attempted to reconstruct international finance by reinstating the gold standard.
Author: Simon Johnson
Publisher: Vintage
ISBN: 030747660X
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.
Author: Claire A. Hill
Publisher: University of Chicago Press
ISBN: 022629305X
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Taking financial risks is an essential part of what banks do, but there’s no clear sense of what constitutes responsible risk. Taking legal risks seems to have become part of what banks do as well. Since the financial crisis, Congress has passed copious amounts of legislation aimed at curbing banks’ risky behavior. Lawsuits against large banks have cost them billions. Yet bad behavior continues to plague the industry. Why isn’t there more change? In Better Bankers, Better Banks, Claire A. Hill and Richard W. Painter look back at the history of banking and show how the current culture of bad behavior—dramatized by the corrupt, cocaine-snorting bankers of The Wolf of Wall Street—came to be. In the early 1980s, banks went from partnerships whose partners had personal liability to corporations whose managers had no such liability and could take risks with other people’s money. A major reason bankers remain resistant to change, Hill and Painter argue, is that while banks have been faced with large fines, penalties, and legal fees—which have exceeded one hundred billion dollars since the onset of the crisis—the banks (which really means the banks’shareholders) have paid them, not the bankers themselves. The problem also extends well beyond the pursuit of profit to the issue of how success is defined within the banking industry, where highly paid bankers clamor for status and clients may regard as inevitable bankers who prioritize their own self-interest. While many solutions have been proposed, Hill and Painter show that a successful transformation of banker behavior must begin with the bankers themselves. Bankers must be personally liable from their own assets for some portion of the bank’s losses from excessive risk-taking and illegal behavior. This would instill a culture that discourages such behavior and in turn influence the sorts of behavior society celebrates or condemns. Despite many sensible proposals seeking to reign in excessive risk-taking, the continuing trajectory of scandals suggests that we’re far from ready to avert the next crisis. Better Bankers, Better Banks is a refreshing call for bankers to return to the idea that theirs is a noble profession.
Author: Charlie Eaton
Publisher: University of Chicago Press
ISBN: 022672056X
Category : Education
Languages : en
Pages : 216
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Book Description
Exposes the intimate relationship between big finance and higher education inequality in America. Elite colleges have long played a crucial role in maintaining social and class status in America while public universities have offered a major stepping-stone to new economic opportunities. However, as Charlie Eaton reveals in Bankers in the Ivory Tower, finance has played a central role in the widening inequality in recent decades, both in American higher education and in American society at large. With federal and state funding falling short, the US higher education system has become increasingly dependent on financial markets and the financiers that mediate them. Beginning in the 1980s, the government, colleges, students, and their families took on multiple new roles as financial investors, borrowers, and brokers. The turn to finance, however, has yielded wildly unequal results. At the top, ties to Wall Street help the most elite private schools achieve the greatest endowment growth through hedge fund investments and the support of wealthy donors. At the bottom, takeovers by private equity transform for-profit colleges into predatory organizations that leave disadvantaged students with massive loan debt and few educational benefits. And in the middle, public universities are squeezed between incentives to increase tuition and pressures to maintain access and affordability. Eaton chronicles these transformations, making clear for the first time just how tight the links are between powerful financiers and America’s unequal system of higher education.
Author: Joseph Wechsberg
Publisher: Plunkett Lake Press
ISBN:
Category : History
Languages : en
Pages : 272
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Book Description
“This is a collection of casual articles about the seemingly forbidding subject of merchant banking and about some of the world’s most outstanding and venerable merchant bankers — Hambros, Barings, Warburg, in London; Mattioli in Milan; Abs in Frankfurt; Lehman Brothers in New York; and the Rothschilds in Paris and London... Joseph Wechsberg gives the history of each of these institutions, most of which remain family controlled, and he presents profiles of the men who are or have been their guiding lights, whose very character serves to distinguish each of these mysterious citadels from the other and from lesser breeds in the more understandable area of commercial banking. The most remarkable feature of this truly fascinating book is the amount of knowledge the author brings to bear upon his subject in a most unobtrusive way. The articles are rich in information and a pleasure to read.” — Kirkus “Mr. Wechsberg... has selected the names of seven merchant banks and bankers and written the story of each with a sparkling lucidity that is reminiscent of New Yorker Profiles... Mr. Wechsberg’s sketches of men and institutions make good reading.” — Saturday Review “New Yorker Correspondent Joseph Wechsberg[’s]... stories have a richness of color and some details of remarkable deals that have turned money into factories, jobs and useful products for everybody’s compound interest.” — Time Magazine
Author: Mike Mayo
Publisher: John Wiley & Sons
ISBN: 1118115465
Category : Business & Economics
Languages : en
Pages : 208
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Book Description
An insider points out the holes that still exist on Wall Street and in the banking system Exile on Wall Street is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown. Award winning, veteran sell side Wall Street analyst Mike Mayo writes about one of the biggest financial and political issues of our time – the role of finance and banks in the US. He has worked at six Wall Street firms, analyzing banks and protesting against bad practices for two decades. In Exile on Wall Street, Mayo: Lays out practices that have diminished capitalism and the banking sector Shares his battle scars from calling truth to power at some of the largest banks in the world and how he survived challenging the status quo to be credited as one of the few who saw the crisis coming Blows the lid off the true inner workings of the big banks and shows the ways in which Wall Street is just as bad today as it was pre-crash. Analyzes the fallout stemming from the market crash, pointing out the numerous holes that still exist in the system, and offers practical solutions. While it provides an education, this is no textbook. It is also an invaluable resource for finance practitioners and citizens alike.
