The Leading eBooks Store Online 4,070,182 members ⚫ 1,339,185 ebooks

New to eBooks.com?

Learn more

A Call for Judgment

Sensible Finance for a Dynamic Economy

A Call for Judgment by Amar Bhide
Buy this eBook
US$ 19.99
(If any tax is payable it will be calculated and shown at checkout.)
Our prosperity requires the enterprise of innumerable individuals and businesses who exercise their imagination and judgment-and bear responsibility for outcomes. And widespread enterprise is fostered through dialogue and relationships, not merely prices in anonymous markets. Yet modern finance blatantly neglects these necessary elements for enterprise. In the last several decades finance has become increasingly centralized, distanced, and mechanistic. Instead of many lending officers making judgments about borrowers they know, credit decisions are the output of the models of a few Wall Street wizards and credit agencies. This robotic centralized finance stifles the dynamism of the real economy and leads to recurring collapses.A Call for Judgment clearly explains how bad theories and mis-regulation have caused a dangerous divergence between the real economy and finance. In simple language Bhid? takes apart the so-called advances in modern finance, showing how backward-looking, top-down models were used to mass-produce toxic products. Thanks to excessively tight securities laws and loose banking laws, anonymous transactions have displaced relationship-based finance. And Bhid? offers, tough simple rules for restoring relationships and case-by-case judgment: limit banks--and all deposit taking institutions--to basic lending and nothing else.A Call for Judgment is both a primer on the role of finance in a dynamic modern economy, and a cautionary tale about the pitfalls of banks functioning as highly centralized, mechanistic entities. It is essential reading for anyone interested in bringing the economy back to a point at which decisions can be made that foster organic economic growth without the potentially disastrous risks currently accepted by modern finance.
Oxford University Press; October 2010
368 pages; ISBN 9780199779574
Read online, or download in secure EPUB or secure PDF format
Title: A Call for Judgment
Author: Amar Bhide
 
  • News
Big Finance's Best Friend - Boston Review
Thu, 27 Jun 2013 11:58:45 -0700
Boston ReviewBig Finance's Best FriendBoston ReviewHad Shiller stopped there, Finance and the Good Society would be a ...
ISBNs
0199781443
9780199756070
9780199779574
9780199781447