Other People's Money - A lecture by Professor John Kay
Monday, 18 April 2016 from 18:00 to 19:30 (BST)
San Francisco, California
London, United Kingdom
Sheffield Institute for Corporate and Commercial Law (SICCL) is hosting a public lecture by Professor John Kay, economist, author and journalist.
John Kay is one of Britain’s leading economists. His interests focus on the relationships between economics and business. His career has spanned academic work and think tanks, business schools, company directorships, consultancies and investment companies.
He chaired the Review of UK Equity Markets and Long-Term Decision-Making which reported to the Secretary of State for Business, Innovation and Skills in 2012. He is a visiting Professor of Economics at the London School of Economics, a Fellow of St John’s College, Oxford, a Fellow of the British Academy, and 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.
The lecture will outline the central argument of his most recent book, Other People's Money, which is that the finance world’s perceived profitability is not the creation of new wealth, but the sector’s appropriation of wealth – of other people’s money. The financial sector, he shows, 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 reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement.
The lecture will be followed by a Q&A.
This event is Ticket-only and places are strictly limited.
When & Where
Sheffield Institute of Corporate and Commercial Law
SICCL members are actively involved in research and policy-making in many aspects of corporate and commercial law. We are particularly interested in using heterodox and institutional economics to critique existing laws and regulatory schemes, and as the basis for reform proposals.