Smart Money

Smart Money

How High-stakes Financial Innovation Is Reshaping Our World--for the Better

Book - 2015
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Baker & Taylor
A far-ranging tour of the creative financial ideas currently evolving in today's economic sectors outlines powerful recommendations for how the financial industry can take responsibility for economic dilemmas while solving key social problems.

Perseus Publishing
Seven years after the financial crisis of 2008, financiers remain villains in the public mind. Most Americans believe that their irresponsible actions and complex financial products wrecked the economy and destroyed people's savings, and that bankers never adequately paid for their crimes.

But as Economist journalist Andrew Palmer argues in Smart Money, this much maligned industry is not only capable of doing great good for society, but offers the most powerful means we have for solving some of our most intractable social problems. From Babylon to the present, the history of finance has always been one of powerful innovation. Now a new generation of financial entrepreneurs is working to revive this tradition of useful innovation, and Palmer shows why we need their ideas today more than ever.

Traveling to the centers of finance across the world, Palmer introduces us to peer-to-peer lenders who are financing entrepreneurs the big banks won't bet on, creating opportunities where none existed. He explores the world of social-impact bonds, which fund programs for the impoverished and homeless, simultaneously easing the burden on national governments and producing better results. And he explores the idea of human-capital contracts, whereby investors fund the educations of cash-strapped young people in return for a percentage of their future earnings.

In this far-ranging tour of the extraordinarily creative financial ideas of today and of the future, Smart Money offers an inspiring look at the new era of financial innovation that promises to benefit us all.


Book News
Readers may be surprised to learn that investment bankers and financial entrepreneurs are helping to solve some of the world’s most pressing social problems, in this optimistic perspective on the financial industry from author Andrew Palmer, former financial editor and current head of data journalism at the Economist. Palmer points to emerging trends and innovative financial tools such as peer-to-peer lending, social-impact bonds that fund programs for poor people, and human-capital contracts, which allow investors to demand a percentage of future earnings from students in exchange for paying tuition. Although the book is written in a lively, conversational style, it will be accessible mainly to those with some background in finance. Annotation ©2015 Ringgold, Inc., Portland, OR (protoview.com)

Baker
& Taylor

"Six years after the financial crisis, bankers and other Wall Street types remain villains in the public mind. The standard critique says that they wrecked the economy and destroyed people's savings, and never adequately paid for their crimes. But as Economist editor Andrew Palmer reveals in Smart Money, this detested industry is not only capable of doing great good for society, but offers the most powerful means we have for solving some of our most intractable social problems. Drawing on interviews withleading financiers and a new breed of financial entrepreneurs, Palmer provides a sweeping account of the history, present, and future of financial innovation, arguing that we need it more today than ever before"--
"Seven years after the financial crisis of 2008, financiers remain villains in the public mind. Most Americans believe that their irresponsible actions and complex financial products wrecked the economy and destroyed people's savings, and that bankers never adequately paid for their crimes. But as Economist journalist Andrew Palmer argues in Smart Money, this much maligned industry is not only capable of doing great good for society, but offers the most powerful means we have for solving some of our most intractable social problems. From Babylon to the present, the history of finance has always been one of powerful innovation. Now a new generation of financial entrepreneurs is working to revive this tradition of useful innovation, and Palmer shows why we need their ideas today more than ever. Traveling to the centers of finance across the world, Palmer introduces us to peer-to-peer lenders who are financing entrepreneurs the big banks won't bet on, creating opportunities where none existed. He exploresthe world of social-impact bonds, which fund programs for the impoverished and homeless, simultaneously easing the burden on national governments and producing better results. And he explores the idea of human-capital contracts, whereby investors fund the educations of cash-strapped young people in return for a percentage of their future earnings. In this far-ranging tour of the extraordinarily creative financial ideas of today and of the future, Smart Money offers an inspiring look at the new era of financial innovation that promises to benefit us all. "--
A tour of the creative financial ideas currently evolving in economic sectors outlines recommendations for how the financial industry can take responsibility for economic dilemmas while solving key social problems.

Publisher: New York : Basic Books, c2015
ISBN: 9780465064724
Branch Call Number: 332.1 PAL
Characteristics: xviii, 285 p. ;,25 cm.

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