Download finance and the good society in pdf or read finance and the good society in pdf online books in PDF, EPUB and Mobi Format. Click Download or Read Online button to get finance and the good society in pdf book now. This site is like a library, Use search box in the widget to get ebook that you want.



Finance And The Good Society

Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 0691158096
Size: 75.99 MB
Format: PDF, Kindle
View: 5645
Download and Read
Argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets, and that new ways to rechannel financial creativity to benefit society as a whole are needed.

Finance And The Good Society

Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 140084617X
Size: 59.89 MB
Format: PDF
View: 5756
Download and Read
The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance--he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation--not less--and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers--from CEO, investment manager, and banker to insurer, lawyer, and regulator--can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

Finance And The Good Society

Author: Robert J. Shiller
Publisher: Princeton University Press
ISBN: 1400841585
Size: 75.85 MB
Format: PDF, ePub, Mobi
View: 1139
Download and Read
The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance--he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation--not less--and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers--from CEO, investment manager, and banker to insurer, lawyer, and regulator--can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

Macro Markets

Author: Robert J. Shiller
Publisher: OUP Oxford
ISBN: 0191521655
Size: 33.36 MB
Format: PDF, Kindle
View: 4080
Download and Read
Macro Markets puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing society. Our existing financial markets are seen as being inadequate in dealing with such risks and Professor Shiller suggests major new markets as solutions to the problem. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual and standards of living determined by luck. He investigates whether a new technology of markets could make risk-sharing possible, and shows how new contracts could be designed to hedge all manner of risks to the individual's living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquid international markets for residential and commercial property. Establishing such unprecedented new markets presents some important technical problems which Shiller attempts to solve with proposals for implementing futures markets on perpetual claims on incomes, and for the construction of index numbers for cash settlement of risk management contracts. These new markets could fundamentally alter and diminish international economic fluctuations, and reduce the inequality of incomes around the world.

Makers And Takers

Author: Rana Foroohar
Publisher: Crown Business
ISBN: 0553447254
Size: 36.56 MB
Format: PDF, ePub
View: 1763
Download and Read
Eight years on from the biggest market meltdown since the Great Depression, the key lessons of the crisis of 2008 still remain unlearned-and our financial system is just as vulnerable as ever. Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses,a putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Timeassistant managing editor and economic columnist Rana Foroohar shows how the ofinancialization of Americao - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating oToo Big To Failo banks, but the problems in our market system go much broader and deeper than that. Consider that- A Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy - the rest stays within the closed loop of finance itself. A The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. A The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. A Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. A And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country's wealthiest financiers.a a a a Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takerso and "Makers,o she'll reveal how we change the system for a better and more sustainable shared economic future.a - Financial Times - Best Books of 2016- Economics - Bloomberg Businessweek- Best Books of the Year

Ethical Asset Valuation And The Good Society

Author: Christian Gollier
Publisher: Columbia University Press
ISBN: 0231545924
Size: 38.59 MB
Format: PDF
View: 6420
Download and Read
For all of their focus on asset prices, financial economists rarely ask if assets are priced ethically—that is, if their prices are compatible with the public good. Yet in a world facing major, possibly catastrophic problems—global warming, for instance, and growing inequality—it is now more important than ever that we allocate capital to projects that will benefit society as a whole, not just today but far into the future. In this book, Christian Gollier develops a powerful method for transforming our societal goals of collective prosperity into the cornerstone of our financial decision making. Ethical Asset Valuation and the Good Society starts by stating transparent moral principles and, from these, derives simple rules that can be used to evaluate saving and investment decisions in terms of the public good. Rather than trying to explain observed asset prices, Gollier derives what these prices ought to be in order to direct capital toward socially desirable investments. He focuses especially on the two prices that drive most financial decisions—the price of time as reflected in the interest rate and the price of risk—and explores the role these play in our long-term planning. If investment projects in renewable energy could be financed at a lower interest rate than those linked to fossil fuels, for instance, the energy transition would be easier to accomplish. Building on criticism of the short-term thinking of financial markets, Gollier suggests ways to shift investment toward the future through the discounting of the valuation of assets and investments with long-term benefits. In this sophisticated but accessible work, Gollier builds a bridge between welfare economics and finance theory to provide a framework for ethical valuation capable of establishing what asset prices should be on the basis of our shared moral values.

Animal Spirits

Author: George A. Akerlof
Publisher: Princeton University Press
ISBN: 9781400834723
Size: 44.40 MB
Format: PDF, Kindle
View: 1263
Download and Read
The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government--simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life--such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes--and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits--the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time--unless we are prepared to take further, decisive action.

The Executive S Compass

Author: James O'Toole
Publisher: Oxford University Press
ISBN: 9780195096446
Size: 40.93 MB
Format: PDF
View: 6661
Download and Read
This study seeks to help business managers make sense of a rapidly changing world and to formulate corporate policy as they face a minefield of ethical dilemmas. The author uses political philosophy to examine the role of the corporation in our culture.

Market Volatility

Author: Robert J. Shiller
Publisher: MIT Press
ISBN: 9780262691512
Size: 32.23 MB
Format: PDF, Mobi
View: 5638
Download and Read
Market Volatility proposes an innovative theory, backed by substantial statisticalevidence, on the causes of price fluctuations in speculative markets. It challenges the standardefficient markets model for explaining asset prices by emphasizing the significant role that popularopinion or psychology can play in price volatility.Why does the stock market crash from time totime? Why does real estate go in and out of booms? Why do long term borrowing rates suddenly makesurprising shifts? Market Volatility represents a culmination of Shiller's research on thesequestions over the last dozen years. It contains reprints of major papers with new interpretivematerial for those unfamiliar with the issues, new papers, new surveys of relevant literature,responses to critics, data sets, and reframing of basic conclusions. Includes is work authoredjointly with John Y. Campbell, Karl E. Case, Sanford J. Grossman, and Jeremy J. Siegel.MarketVolatility sets out basic issues relevant to all markets in which prices make movements forspeculative reasons and offers detailed analyses of the stock market, the bond market, and the realestate market. It pursues the relations of these speculative prices and extends the analysis ofspeculative markets to macroeconomic activity in general.In studies of the October 1987 stock marketcrash and boom and post-boom housing markets, Market Volatility reports on research directly aimedat collecting information about popular models and interpreting the consequences of belief in thosemodels. Shiller asserts that popular models cause people to react incorrectly to economic data andbelieves that changing popular models themselves contribute significantly to price movements bearingno relation to fundamental shocks.Robert J. Shiller is Stanley B. Resor Professor of Economics atthe Cowles Foundation, Yale University.

Lords Of Finance

Author: Liaquat Ahamed
Publisher: Penguin
ISBN: 1440697965
Size: 60.98 MB
Format: PDF, Mobi
View: 7749
Download and Read
Winner of the 2010 Pulitzer Prize "A magisterial work...You can't help thinking about the economic crisis we're living through now." --The New York Times Book Review It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of that economic meltdown, the effects of which set the stage for World War II and reverberated for decades. As yet another period of economic turmoil makes headlines today, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, their fallibility, and the terrible human consequences that can result when they are wrong. From the Trade Paperback edition.