The Real Business of Finance
Other People's Money by John Kay is a critique on the dysfunctional finance sector that prioritises short-term gains over long-term value creation. It offers a roadmap for restoring the credibility of finance by aligning it with the interests of its clients.
These days, the global financial system has earned a reputation as one of the root causes of many of the world’s problems. But it didn’t start out this way.
Finance was originally intended to improve our quality of life by making it easier to conduct business.
The financial system allows us to buy the things we need to live comfortably and connects people who need money with those who can lend money. It also makes the insurance business possible, giving us the chance to protect ourselves from major disasters or emergencies, and allows us to organize our personal assets so that we can pass them along to subsequent generations.
Mortgages are another mutually beneficial part of finance. They make it possible for people to own property by taking out a loan, and subsequently making monthly payments with interest to the lender as a reward for supplying the loan.
On a larger scale, a healthy financial system can benefit society as a whole, which becomes clear when we look back at the progress we’ve made over several centuries.
It was a strong financial sector that allowed Britain and the Netherlands to become world powers in the early days of industrialization. As investments continue to pour into developing countries, it’s strong finances that allow this money to spread and improve the standard of living.
We can also see how the undynamic financial systems of communist countries lead to failure time and time again. In these centrally controlled systems, the money is unable to flow to businesses in need, which leads to fewer jobs and poor economic growth.
However, even though capitalist freedom has led to the kind of prosperous industrialization that became a cornerstone of modern society, not all of its financial innovations have been good. In fact, some of them haven’t been beneficial to us at all.
As it turns out, the financial industry has lost sight of what’s good and bad for the global population as a whole. We’ll get to the bottom of why this has happened in the blinks that follow.
Other People’s Money (2015) offers a detailed breakdown of the financial sector: how it functions, the effect it has on economies and what its purpose should ideally be – as opposed to what its current purpose is. 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.
Ich bin begeistert. Ich liebe Bücher aber durch zwei kleine Kinder komme ich einfach nicht zum Lesen. Und ja, viele Bücher haben viel bla bla und die Quintessenz ist eigentlich ein Bruchteil.
Genau dafür ist Blinkist total genial! Es wird auf das Wesentliche reduziert, die Blinks sind gut verständlich, gut zusammengefasst und auch hörbar! Das ist super. 80 Euro für ein ganzes Jahr klingt viel, aber dafür unbegrenzt Zugriff auf 3000 Bücher. Und dieses Wissen und die Zeitersparnis ist unbezahlbar.
Extrem empfehlenswert. Statt sinnlos im Facebook zu scrollen höre ich jetzt täglich zwischen 3-4 "Bücher". Bei manchen wird schnelle klar, dass der Kauf unnötig ist, da schon das wichtigste zusammen gefasst wurde..bei anderen macht es Lust doch das Buch selbständig zu lesen. Wirklich toll
Einer der besten, bequemsten und sinnvollsten Apps die auf ein Handy gehören. Jeden morgen 15-20 Minuten für die eigene Weiterbildung/Entwicklung oder Wissen.
Viele tolle Bücher, auf deren Kernaussagen reduziert- präzise und ansprechend zusammengefasst. Endlich habe ich das Gefühl, Zeit für Bücher zu finden, für die ich sonst keine Zeit habe.
Hol dir mit Blinkist die besten Erkenntnisse aus mehr als 7.000 Sachbüchern und Podcasts. In 15 Minuten lesen oder anhören!
Jetzt kostenlos testen
Blink 3 von 12 - Eine kurze Geschichte der Menschheit
von Yuval Noah Harari
