The End of Banking: Money, Credit, and the Digital Revolution
| Author | : | |
| Rating | : | 4.98 (850 Votes) |
| Asin | : | 3952438510 |
| Format Type | : | paperback |
| Number of Pages | : | 246 Pages |
| Publish Date | : | 2013-05-30 |
| Language | : | English |
DESCRIPTION:
He is a financial expert who loves nothing more than digging through balance sheets, system flowcharts, and transaction data. In his role, he has gained firsthand insights into the workings of the financial centers of London and New York. One works in the investment bank division of a global bank. He holds an M.Phil. in economics from the Swiss Federal Institute of Technology, ETH Zurich. Always eager to learn, he earned two bachelor's degrees, one in economics and
But wild ideas may be more helpful for fixing finance than an endless series of enhancements of a system which is unsuitable for the modern age." (Reuters Breakingviews, Dominic Elliott)"In addition to carefully explaining how the financial sector maneuvered itself into the financial crisis of 2007-08, it presents several unconventional ideas to do away with regulatory capital arbitrage . (The Wilmott Magazine, Dan Tudball) . The book is well researched and is a stimulating, thought-provoking read." (The CFA Institute Blog, Manuel Stagars)"The End of Banking, penned by the mysterious Jonathan McMillan , has generated discussion that deserves a bigger platform, both for the proposals made and the style in which those proposals are made. Its prescriptions for a better banking system may be excessively ambitious. This book does just that." (Financial Times Alphaville, Izabella Kaminska)"a great contribution to the current discussion of monetary
One of the best non-fiction books I have read in a while One of the best non-fiction books I have read in a while. I felt like this book provided me with an easy-to-follow introduction to banking, an overview of the important (and beneficial) role banks have played in the past and an explanation of why this is not the case anymore today. By the time the author proposes a new financial architecture in the latter parts of the book, the fundamental flaws in the current fnancial system have become more than apparent. Interesting, informative and a real eye opener.The author begins by succintly laying out what exactly traditional banks do. This first part is somewhat technical at times. A MUST READ – for everybody interested in creating a modern, stable and just financial system This books analyzes banking from its beginning through its development in the industrial age until is corruption in the digital age. Even for novice to the industry – like myself – it explains in an easy but concise, very well argued and convincing manner how banking got corrupted thanks to the digitalization of our world. It demonstrates how the digitalization allowed for the rise of Shadow banking – the Achilles’ heel of today’s financial system – which leaded to the financial crisis in 2007. And it shows how – even with the best intention at heart – today’s regulation . "The end of banking" takes no prisoners! With one book, I understood the essence of banking, the fundamental problem of banking, and how it could be solved once and for all. Clear, rational, and free of ideology, it takes you straight to the core of the problem which turns out not to be that complicated once you grasp it. If you work in a bank, you should probably read it now. I must admit, I am a fan, and I highly recommend this book to everyone!The only thing is that the book may be too clever to achieve its aim. Since the author does not rely on any exaggerated imagery or blunt argument, it may not draw a the political following that it deserves. Therefore, I ho
There is an alternative! In this thought-provoking book, Jonathan McMillan dissects banking to reveal its inner workings. He cuts through the complexity of modern finance and explains how banking almost crashed our financial system. Building on economic research and a rigorous analytical approach, he goes on to provide an innovative blueprint for a modern financial system.The End of Banking transforms our understanding of the financial system. But McMillan refrains from merely pointing out flaws. It identifies the root cause of today's problems with banking and presents a solution that stands out against existing reform proposals.We can do better than banking. Banking is broken, and McMillan reveals why we can no longer fix it.The digital revolution turns out to be the game changer that calls for the end of banking