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Force of Finance: Triumph of the Capital Markets
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Overview
Brenner examines whether the 21st Century will be another American century; the financial and regulatory changes required to adjust to a more mobile world; religion and nationalism; the connection between democracy and financial markets; and the links between higher education and myths societies live by. And all this is in clear, compelling writing that is devoid of jargon.
Product Details
| ISBN-13: | 9781587991301 |
|---|---|
| Publisher: | Cengage Learning |
| Publication date: | 04/15/2002 |
| Pages: | 220 |
| Product dimensions: | 6.26(w) x 9.18(h) x 0.92(d) |
About the Author
Brenner holds the Repap Chair of Business at McGill's Faculty of Management, is associated with Duxx, Monterrey, Mexico, and has served as consultant for and as a board member of companies in Canada, the U.S., and Mexico. He has given speeches around the world and has written on financial and economic issues for Forbes, Forbes Global, the Wall Street Journal, and the National Post.
Table of Contents
Acknowledgements Preface for the US and International Edition Introduction 1.Another American Century 2.Capital markets and Democracy 3.Globalization: The Long Road from Immobility 4.Direct Democracy and Financial markets: What Do They Have in Common 5.Monetary Standards and the International Financial System 6.Nationalism 7.Extracting Sunbeams Out of Cucumbers 8.The Future of Higher Education 9.A Financial Twenty-first Century Select Bibliography Index
What People are Saying About This
A must read for anyone involved in international finance at the start of the 21st century.
— Jack, Hennessy, Former Chairman and CEO, Credit Suisse First Boston
A must read for anyone involved in international finance at the start of the 21st century.
— Jack, Hennessy, Former Chairman and CEO, Credit Suisse First Boston
Brenner has the knack for expressing what you think you know about economics, and reengineering it with unexpected flair and historical context, as well as the ability to take you what you confidently understand and snap the spine out of your assumptions... He invests his analytical powers in exploring how people actually behave instead of how they're supposed to behave.
This sensibility - as much as his rethorical firepower - makes his work uniquely appealing to enlightened managers and executives. Brenner gives his readers a framework - as well as a vocabulary - to make organizations rethink how they should use market mechanisms to manage themselves.
Brenner's overreaching argument ... offers a deeper - dare one say a richer - understanding of how people prosper ... Brenner's historical examples are smoothly argued, if somewhat polemical. But then, this is a polemical book. It is ammunition in the ongoing battle: legislators, regulators, and central bankers vs. the champions of market forces. In this battle, Brenner hunts big game and eviscerates his prey.
For example, Paul Krugman - the economist touted for a Nobel prize and a partisan New York Times op-ed columnist - is treated as a naughty little boy wonder who isn't quite clever or honest enough to fully understand the macroeconomic policies he champions, Brenner's ability to credibly condescend to one of the field's most arrogant figures merits special attention.
... Brenner believes that both as institutions of trust-generation and price setting, central banks are inherently incapable of generating policies whose benefits ultimately outweigh their costs. He is not a fan of macroeconomics and the statistical contortions central bankers must go through to rationalize past, present, and future policy impacts. Whether you agree with his arguments or not, they have an internal consistency that cannot be easily dismissed. Unsurprisingly, themes of trust - and the role trust plays in markets historically - dominate this book.
... The last chapter of ... the book is a tour de force. Superbly argued, strategically disrespectful. and with just enough sentiment to pass as inspiring, the intellectually honest reader will be impressed, if not persuaded, by the rigor of Brenner's rhetoric. I have seldom read a more potent case for why businesses need to rethink the trade-off between creating environments for innovation and systems of innovation.
— Across the Board, NY Conference Board, May/June 2002, Michael Schrage, co-director, MIT Media Lab
The Force of Finance is an important contribution to the literature exploring why some countries prosper, and others fall behind. Every policymaker should read it. Many business people and investors will not only read it, but also factor Reuven Brenner's compelling argument into their investment decisions.
Reuven Brenner's Force of Finance clearly shows how the democratization of access to capital in the United States created millions of jobs and the American economic miracle of the last 25 years.
— Michael Milken, philantropist and Chairman of the Milken Institute
Trenchant ... Reuven Brenner provides new insight into age-old truth on what determines whether nations prosper or fail - access to capital in free and open markets and accountability under a rule of law in a framework of democracy.
— Jack Kemp, co-director, Empower America