Other People’s Money: The Financialisation of the Economy - John Kay

Title:
Prof. John Kay to deliver the 2016 Joan Muysken lecture: “Other People’s Money: The Financialisation of the Economy”
Description:
We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector’s activity.
11 April, John Kay, Professor of Economics, London School of Economics, fellow St John’s College, University of Oxford, will argue, in his outspoken style, that the financial sector has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by its own standards.
We need finance, but today we have far too much of a good thing. John Kay will show us what has gone wrong in the dark heart of the finance sector.
This lecture is organised in cooperation with the School of Business and Economics. The Joan Muysken lecture has been named after Joan Muysken, SBE’s first professor of macroeconomics (1984-2014). He was the founding father of SBE’s department of Economics.
About the speaker:
John Kay chaired the Review of UK Equity Markets and Long-Term Decision-Making which reported to the Secretary of State for Business, Innovation and Skills on the 23rd July 2012. He is a visiting Professor of Economics at the London School of Economics, a Fellow of St John’s College, Oxford. He is a Fellow of the British Academy, a Fellow of the Royal Society of Edinburgh. He is a director of several public companies and contributes a weekly column to the Financial Times. He is the author of many books, including The Truth about Markets (2003) and The Long and the Short of It: finance and investment for normally intelligent people who are not in the industry (2009), Obliquity (2011) and his latest, Other People’s Money was published by Profile Books in September 2015. Some of his most influential, recent work has been on banking regulation, and you can read about his vision for the sector in his 2009 essay, Narrow Banking.
More information:
Maastricht University: www.maastrichtuniversity.nl
Talkin'Business: www.talkinbusiness.nl
John Kay: www.johnkay.com

[@StellaAsh]

We need finance, not usury and to aimed at business not financial services.

[@BreezeTalk]

20k views in 7 years, that’s good.

[@courtneyclarke4529]

A world built entirely on lies and illusions, indeed!

[@johnnorton2182]

That was fantastic we need more people like him running the banks

[@gaetanonapolitano7092]

u

[@SusanSt.James-33]

We need people like him educating and training us on finance and its history.

[@benjamingeorgecoles8060]

Such clear explanation! Really appreciated this.
(I should be honest with myself: I do for the most part have to take his economic analysis on trust - fairly inevitably, as I'm by no means an economic expert myself. But his way of speaking inspires my trust, as does his lack of vested interests.)

[@OfficialBsnz]

Quick Reminder: People holding your money don’t care about you lol.
Great video ⚡️

[@davidwilkie9551]

In Principle, money is meaningless without attached purposes, so where it comes from, ie the planning process for which it is designed to fulfil, that is directly related to where it is collected as real value before the whole cycle is repeated with review and reiteration of the design purposes.

[@sizzla123]

Excellent Lecture

[@Userkzb20253]

Great speaker who makes the complicated topic sound easy, definitely clear. This inspires me to read his books.