the real business of finance Kay, J. A. (John Anderson) 1948- creator text bibliography nyu 2015 First US edition. monographic eng

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xiii, 336 p. : ill. ; 24 cm "The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities 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"--Dust jacket flap. Prologue : The parable of the ox -- Introduction : Far too much of a good thing -- Part I. Financialisation. History ; Risk; Intermediation; Profits -- Part II. The functions of finance. Capital allocation ; The deposit channel ; The investment channel -- Part III. Regulation ; Economic policy ; Reform ; The future of finance -- Epilogue : The emperor's guard's new clothes. John Kay. "The finance sector of Western economies is too large and attracts too many of the smartest college graduates. Financialization over the past three decades has created a structure that lacks resilience and supports absurd volumes of trading. The finance sector devotes too little attention to the search for new investment opportunities 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"--Front dust jacket flap. Includes bibliographical references (pages 297-320) and index. Originally published: Great Britain : Profile Books Ltd., 2015, under title: Other people's money : masters of the universe or servants of the people? 9781781254431 Investments Speculation Corporations Finance Financial institutions Banks and banking Finance Inversiones Corporaciones Finanzas Especulación financiera Financial institutions Investments Speculation HG 4521 K23o 2015 Great Britain : Profile Books Ltd., 2015, 9781781254431 under title: 9781610396035 (hardcover) 1610396030 (hardcover) 2015944758 http://www.loc.gov/catdir/enhancements/fy1605/2015944758-b.html http://www.loc.gov/catdir/enhancements/fy1605/2015944758-d.html http://www.loc.gov/catdir/enhancements/fy1605/2015944758-b.html http://www.loc.gov/catdir/enhancements/fy1605/2015944758-d.html YDXCP 150623 20230411090120.0 18670379 eng