Nobel Prize-winning economist explains why we need to reclaim finance for the common good 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.

This book covers the work of Erik W. Aslaksen who continues to develop the view of society and its evolution published in earlier work – The Social Bond (Springer 2018), The Stability of Society (Springer 2020), and Measures of Social Evolution (Springer 2021), bringing together core material of that work with the results of recent investigations in order to present the evolution of society as an integrated and continuous story leading right up to the present time. A story of human action driven by our beliefs, desires, and an ideology arising out of our ability to transform and exploit our environment through the development and application of technology. The distinguishing feature of the work is the treatment of society as an information-processing system and applying the system methodology for handling complexity, as it is applied, e.g., in engineering. This focus on information is particularly pertinent in the current circumstances, where the world has arrived at a critical point in its history through the conjunction of a number of issues that appear to be spiralling out of control: Global warming and the associated climate change, the destruction of our environment through such processes as land clearing and industrialisation with associated loss of biodiversity, the rapidly increasing visibility of the inequality in the quality of life with associated tensions, and above all, the determination of the US-led Western alliance to cling to its hegemonial role, apparently at all cost. With the sophistication and proliferation of nuclear weapons, the latter has the potential to bring on the end of civilisation as we know it. The resolution of any of these issues depends on the information available to all parties involved, and hence, the availability and quality of information is seen as the crucial and overarching issue of the present time. A number of aspects of this issue, including the role of education, economic inequality, and the control of the media, are treated in some detail, and proposals for some small steps in the right direction are put forward.

Illustrated with historical analysis, case studies, and accessible economic concepts, this book explains what financial crises are, how they are caused and what we can learn from them. It will appeal to university students as well as general readers who are curious to learn more about the recent subprime crisis and other financial crises.

Explore Islamic finance at a deeper level Intermediate Islamic Finance: Theory and Practice fills the gap for students and professionals who are already familiar with the fundamentals of Islamic finance, but would like to gain an enhanced understanding of Islamic finance theories and practices. This comprehensive text provides you with coverage of global developments and describes the role of Islamic finance within the global finance community to guide you in your understanding of this important aspect of the international financial landscape. The book references advance concepts and specific problems in the practice of Islamic finance, provides suggested further readings for each chapter, offers details of advanced analysis, and presents key data in visual form via graphs, figures, and tables. Profound changes have taken place in the financial landscape over the past few decades, including major innovations in financial instruments and substantial changes in regulation. With global financial markets becoming increasingly important players in the industry, it is critical that today's financial professionals understand the essence and implications of key Islamic finance theories and practices. Build upon your fundamental understanding of Islamic finance Explore some areas of convergence and conflict between Islamic finance and conventional finance Strengthen the harmony between Islamic and conventional finance theories and their applications Prepare for a well-rounded career in finance by better understanding how Islamic finance principles apply Intermediate Islamic Finance: Theory and Practice is an essential text for graduate and post-graduate finance students, economists, researchers, bankers, financial regulators, policymakers, and members of the business community who want to develop a deeper understanding of Islamic finance theories and practices.

This book is open access under a CC BY 4.0 license. This authored monograph analyses the determining factors of societal evolution: the interaction between individuals and the resulting relationship, which the author calls the "Social Bond". The book aims at providing a better understanding of social dynamics and social interaction, and the author develops two models which provide interesting new insights. The target audience primarily comprises academics working in the field of social complexity and related fields, but the book may also be beneficial for graduate students alike.

Includes papers presented at a conference held at the Columbia Business School in the spring of 2013 in honor of Josae Scheinkman's 65th birthday.

The future of finance, and in particular saving it from a popular backlash against the global financial crisis and related crisis management policies, has become a matter of great concern. In this brochure, which presents in written form a lecture from the Per Jacobsson Foundation’s lecture series, former Reserve Bank of India Governor Y. V. Reddy explores three interrelated issues of particular concern to central bankers in the search for good finance for the future: how to ensure that the financial sector serves the society better, how to integrate financial sector policies better with national economic policies, and how to ensure that the financial industry functions as a means and not as an end in itself. The question-and-answer session following the lecture is also included in the brochure.

The recent financial meltdown and the resulting global recession have rekindled debates regarding the nature of contemporary capitalism. This book analyses the ongoing financialization of the economy as a development within capitalism, and explores the ways in which it has changed the organization of capitalist power. The authors offer an interpretation of the role of the financial sphere which displays a striking contrast to the majority of contemporary heterodox approaches. Their interpretation stresses the crucial role of financial derivatives in the contemporary organization of capitalist power relations, arguing that the process of financialization is in fact entirely unthinkable in the absence of derivatives. The book also uses Marx’s concepts and some of the arguments developed in the framework of the historic Marxist controversies on economic crises in order to gain an insight into the modern neoliberal form of capitalism and the recent financial crisis. Employing a series of international case studies, this book will be essential reading for all those with an interest in the financial crisis, and all those seeking to comprehend the workings of capitalism.