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A Call for Judgment: Sensible Finance for a Dynamic Economy
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$ 23.96
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| Retail Value |
$ 29.95 |
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$ 5.99 (20%) |
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| Item Number |
3116725 |
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Item Description...
Overview
Suggests that centralization in the financial sector and loose banking regulations helped cause the financial crisis, and explores how tougher restrictions on banks and relationship-based lending can help rebuild the economy.
Publishers Description
In the wake of the financial crisis, anxious questions have arisen about the very sustainability of our economic system. Has capitalism failed? Does it require top-to-bottom reform? In A Call for Judgment, acclaimed economist Amar BhidAc resists the impulse for drastic change, instead offering a blueprint for correcting the historic misalignment between the numbers-driven financial sector and the innovation-driven "real economy."
BhidAc warns us that modern finance is on a collision course with the true heart of capitalism: innovation and entrepreneurship. Deepening this disconnect is the growing complexity of banks, which habitually fail to hold bankers accountable for their mistakes, while blatantly subverting the tough banking rules established in the 1930s. As BhidAc makes clear, the erosion of these rules displaced traditional relationship-based lending in favor of liquid, anonymous securities, which ultimately succeeded in depriving large banks (and other publicly traded companies) of oversight by investors with first-hand knowledge of the business or its managers. Identifying this lack of monitoring as a fatal flaw that destabilized the economy and helped trigger the financial crisis, BhidAc pushes for tough, straightforward limits on the activities of commercial banks and financial instruments such as money market funds. And, in a no-nonsense, well-researched call to arms, he convincingly argues for shifting the responsibilities of regulators--and the rules they enforce--to the real experts: talented, enterprising individuals.
This timely, indispensable resource is both a primer on the role of finance in the modern economy and a cautionary tale about the pitfalls of banks functioning as highly centralized, mechanistic entities. Most of all, it reaffirms the dynamic essence of capitalism--which has given so many the chance to apply their imagination and judgment--as the key to future prosperity. |
Item Specifications...
Pages 353
Dimensions: Length: 1" Width: 6.5" Height: 9.5"
Weight: 1.45 lbs.
Binding Hardcover
Release Date Oct 1, 2010
Publisher Oxford University Press
ISBN 0199756074
EAN 9780199756070
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Availability 12 units.
Availability accurate as of May 20, 2012 10:00.
Usually ships within one to two business days from Momence, IL.
Orders shipping to an address other than a confirmed Credit Card / Paypal Billing address may incur and additional processing delay.
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