{"product_id":"a-call-for-judgment-sensible-finance-for-a-dynamic-economy-9780199756070","title":"A Call for Judgment: Sensible Finance for a Dynamic Economy","description":"Our prosperity requires the enterprise of innumerable individuals and businesses who exercise their imagination and judgment-and bear responsibility for outcomes. And widespread enterprise is fostered through dialogue and relationships, not merely prices in anonymous markets. Yet modern\u003cbr\u003efinance blatantly neglects these necessary elements for enterprise. In the last several decades finance has become increasingly centralized, distanced, and mechanistic. Instead of many lending officers making judgments about borrowers they know, credit decisions are the output of the models of a few\u003cbr\u003eWall Street wizards and credit agencies. This robotic centralized finance stifles the dynamism of the real economy and leads to recurring collapses. \u003cp\u003e\u003c\/p\u003e\u003cem\u003eA Call for Judgment \u003c\/em\u003eclearly explains how bad theories and mis-regulation have caused a dangerous divergence between the real economy and finance. In simple language Bhidé takes apart the so-called advances in modern finance, showing how backward-looking, top-down models were used to mass-produce\u003cbr\u003etoxic products. Thanks to excessively tight securities laws and loose banking laws, anonymous transactions have displaced relationship-based finance. And Bhidé offers, tough simple rules for restoring relationships and case-by-case judgment: limit banks--and all deposit taking institutions--to basic\u003cbr\u003elending and nothing else. \u003cp\u003e\u003c\/p\u003e\u003cem\u003eA Call for Judgment \u003c\/em\u003eis both a primer on the role of finance in a dynamic modern economy, and a cautionary tale about the pitfalls of banks functioning as highly centralized, mechanistic entities. It is essential reading for anyone interested in bringing the economy back to a point at which decisions\u003cbr\u003ecan be made that foster organic economic growth without the potentially disastrous risks currently accepted by modern finance.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Amar Bhide\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press, USA\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 10\/07\/2010\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 368\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.41lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.50w x 1.00d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780199756070\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eLibrary Journal\u003c\/i\u003e 10\/01\/2010 pg. 81\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 09\/01\/2011\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cstrong\u003eAmar Bhidé\u003c\/strong\u003e, \u003cstrong\u003e \u003c\/strong\u003eSchmidheiny Professor at the Fletcher School at Tufts University, has served as Glaubinger Professor of Business at Columbia University, a consultant at McKinsey \u0026amp; Company and a proprietary trader at E.F. Hutton. Bhidé is a founding member of the Center on Capitalism and Society, editor\u003cbr\u003eof \u003cem\u003eCapitalism and Society\u003c\/em\u003e, and has written about the financial crisis in the \u003cem\u003eWall Street Journal, Business Week\u003c\/em\u003e, and \u003cem\u003eForbes\u003c\/em\u003e. Author of \u003cem\u003eThe Venturesome Economy, The Origin and Evolution of New Businesse\u003c\/em\u003es, and \u003cem\u003eOf Politics and Economic Reality\u003c\/em\u003e, Bhidé received a doctorate and an MBA with high\u003cbr\u003edistinction from the Harvard Business School.\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003ci\u003eThis title is not returnable\u003c\/i\u003e\u003cbr\u003e\u003c\/p\u003e","brand":"Oxford University Press, USA","offers":[{"title":"Hardcover","offer_id":39937650262131,"sku":"9.7802E+12","price":31.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_289268e9-7fdd-43c7-b975-e7cf35e8bdbd.jpg?v=1647994958","url":"https:\/\/bookstorenmore.com\/products\/a-call-for-judgment-sensible-finance-for-a-dynamic-economy-9780199756070","provider":"Bookstore N More","version":"1.0","type":"link"}