Other People’s Money Book Summary - Other People’s Money Book explained in key points
Listen to the Intro
00:00

Other People’s Money summary

John Kay

The Real Business of Finance

3.9 (77 ratings)
17 mins

Brief summary

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.

Table of Contents

    Other People’s Money
    Summary of 7 key ideas

    Audio & text in the Blinkist app
    Key idea 1 of 7

    History shows that a healthy financial system can improve lives and strengthen economies.

    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.

    Want to see all full key ideas from Other People’s Money?

    Key ideas in Other People’s Money

    More knowledge in less time
    Read or listen
    Read or listen
    Get the key ideas from nonfiction bestsellers in minutes, not hours.
    Find your next read
    Find your next read
    Get book lists curated by experts and personalized recommendations.
    Shortcasts
    Shortcasts New
    We’ve teamed up with podcast creators to bring you key insights from podcasts.

    What is Other People’s Money about?

    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.

    Other People’s Money Review

    Other People’s Money (2016) by John Kay explores the financial system and its impact on society. Here's why this book is worth reading:

    • Provides a thorough analysis of the financial industry, uncovering the flaws and consequences of its practices.
    • Offers insights from an industry expert, providing a unique perspective and deep understanding of the subject matter.
    • Engages readers through compelling stories and real-world examples, making complex financial concepts accessible and interesting.

    This book sheds light on an important topic while captivating readers with its engaging content and thought-provoking ideas.

    Who should read Other People’s Money?

    • Readers who want to know how the global financial system affects their lives
    • Entrepreneurs looking to understand how finance works
    • Students of economics, history, politics or sociology

    About the Author

    John Kay is an economics professor and has been a fellow of St. John’s College at the University of Oxford since 1970. He is also a regular contributor to the Financial Times and the author of the books Obliquity and The Long and Short of It.

    Categories with Other People’s Money

    Book summaries like Other People’s Money

    People ❤️ Blinkist 
    Sven O.

    It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.

    Thi Viet Quynh N.

    Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.

    Jonathan A.

    Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.

    Renee D.

    Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.

    People also liked these summaries

    4.7 Stars
    Average ratings on iOS and Google Play
    31 Million
    Downloads on all platforms
    10+ years
    Experience igniting personal growth
    Powerful ideas from top nonfiction

    Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.

    Start your free trial

    Other People’s Money FAQs 

    What is the main message of Other People’s Money?

    The main message of Other People’s Money is the influence financial systems have on our lives.

    How long does it take to read Other People’s Money?

    The reading time for Other People’s Money varies, but it typically takes a few hours. The Blinkist summary can be read in just 15 minutes.

    Is Other People’s Money a good book? Is it worth reading?

    Other People’s Money is worth reading as it provides valuable insights into the world of finance and its impact on society.

    Who is the author of Other People’s Money?

    The author of Other People’s Money is John Kay.

    What to read after Other People’s Money?

    If you're wondering what to read next after Other People’s Money, here are some recommendations we suggest:
    • Investing With Impact by Jeremy K. Balkin
    • The House of Rothschild by Niall Ferguson
    • The Ascent of Money by Niall Ferguson
    • How to Start a Start-up by ThinkApps
    • The First Rule of Mastery by Michael Gervais
    • The 48 Laws of Power by Robert Greene
    • Why “A” Students Work for “C” Students and “B” Students Work for the Government by Robert T. Kiyosaki
    • Stillness Is the Key by Ryan Holiday
    • Discipline Is Destiny by Ryan Holiday
    • I Will Teach You To Be Rich by Ramit Sethi