Critical Reflections on Banking & Finance

Online Courses

  1. Just Money: Banking as if Society Mattered (Massachusetts Institute of Technology)
  2. Understanding Money: the History of Finance, Speculation and the Stock Market (University of South Hampton)
  3. Economics of Money and Banking (Columbia University)
  4. The Global Financial Crisis (Yale University)
  5. Financial Services after the Banking Crisis (UK Open University)

In the video slider trailers/lectures from some of these courses.

Books

All you can know about a book without actually reading it: the Moral Markets bookshelf

Labor in the Age of Finance: Pensions, Politics, and Corporations from Deindustrialization to Dodd-Frank
Labor in the Age of Finance: Pensions, Politics, and Corporations from Deindustrialization to Dodd-Frank (2021)
Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership
Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership (2021)
Unions Renewed: Building Power in an Age of Finance
Unions Renewed: Building Power in an Age of Finance (2020)
'seeking virtue in finance' by J.C. de Swaan
Seeking Virtue in Finance; Contributing to Society in a Conflicted Industry (2020)
Sabotage: The Business of Finance
Sabotage: The Business of Finance (2020)
Divested: Inequality in the Age of Finance
Divested: Inequality in the Age of Finance (2020)
The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy
The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy (2020)
The Case for the Green New Deal
The Case for the Green New Deal (2019)
Book Cover: Finance and the Common Good (2019)
Finance and the Common Good (2019)
Good Finance; Why We Need a New Concept of Finance
Good Finance; Why We Need a New Concept of Finance (2019)
Money; Myths, Truths and Alternatives
Money; Myths, Truths and Alternatives (2019)
Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality
Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality (2019)
Banking on the People; Democratizing Money in the Digital Age
Banking on the People: Democratizing Money in the Digital Age (2019)
Why Can't You Afford a Home, by Josh Ryan-Collins
Why Can't You Afford a Home? (2018)
Bean Counters; The Triumph of the Accountants and How They Broke Capitalism
Bean Counters; The Triumph of the Accountants and How They Broke Capitalism (2018)
The Value of Everything; Makers and Takers in the Global Economy
The Value Of Everything; Makers and Takers in the Global Economy (2018)
A Matter of Trust by Kofman and Payne
A Matter of Trust; The Practice of Ethics in Finance (2018)
Talking to My Daughter about the Economy; A Brief History of Capitalism
Talking to My Daughter about the Economy: A Brief History of Capitalism (2017)
The Color of Money; Black Banks and the Racial Wealth Gap
The Color of Money: Black Banks and the Racial Wealth Gap (2017)
In Pursuit of Wealth; The Moral Case for Finance
In Pursuit of Wealth: The Moral Case for Finance (2017)
Ethics and Responsibility in Finance
Ethics and Responsibility in Finance (2017)
The Wisdom of Finance
The Wisdom of Finance: Discovering Humanity in the World of Risk and Return (2017)
Just Financial Markets; Finance in a Just Society
Just Financial Markets? Finance in a Just Society (2017)
Book Cover: The Production of Money; How to Break the Power of Bankers (2017)
The Production of Money; How to Break the Power of Bankers (2017)
Capital and the Common Good by Keohane
Capital and the Common Good; How Innovative Finance Is Tackling the World's Most Urgent Problems (2016)
Money Changes Everything; How Finance Made Civilization Possible
Money Changes Everything; How Finance Made Civilization Possible (2016)
Book Cover: Makers and Takers; The Rise of Finance and the Fall of American Business (2016)
Makers and Takers; The Rise of Finance and the Fall of American Business (2016)
Masters of the Universe, Slaves of the Market
Masters of the Universe, Slaves of the Market (2015)
Ethics in Banking; The Role of Moral Values & Judgements in Finance
Ethics in Banking; The Role of Moral Values and Judgements in Finance (2015)
Abstract Market Theory by Jon Roffe
Abstract Market Theory (2015)
Other People's Money by John Kay
Other People's Money: The Real Business of Finance (2015)
Saving the Market from Capitalism
Saving the Market from Capitalism: Ideas for an Alternative Finance (2014)
Ethics in Finance by John Boatright
Ethics in Finance (2014)
Ethics and Finance; An Introduction
Ethics and Finance: An Introduction (2013)
The Bankers' New Clothes
The Bankers' New Clothes; What's Wrong with Banking and What to Do about It (2012)
Finance and the Good Society
Finance and the Good Society (2012)
The Trouble with Markets; Saving Capitalism from Itself
The Trouble with Markets; Saving Capitalism from Itself (2012)
The End of Growth
The End of Growth; Adapting to Our New Economic Reality (2011)
the ethics of banking; conclusions from the financial crisis
The Ethics of Banking; Conclusions from the Financial Crisis (2011)
Cliques and Capitalism; A Modern Networked Theory of the Firm
Cliques and Capitalism; A Modern Networked Theory of the Firm (2011)
How Markets Fail; The Logic of Economic Calamities
How Markets Fail; The Logic of Economic Calamities (2010)
The Myth of the Rational Market
The Myth of the Rational Market; A History of Risk, Reward, and Delusion on Wall Street (2009)
Saving Capitalism from the Capitalists, by Rajan and Zingales
Saving Capitalism from the Capitalists; Unleashing the Power of Financial Markets to Create Wealth & Spread Opportunity (2003)

Articles & Blogs

Hand-picked for you from around the web + original articles published just on the Moral Markets site

The Democratising Potential of a Digital Euro

A digital euro is on the horizon. This essay aims to look behind this rather technocratic discourse and seeks to identify what would make a digital euro truly unique and promising. I will argue that, if one accepts that there is no justification for excluding citizens from the benefits of digital central bank money, such allows us to democratise central banking, and to democratise finance. To arrive at that conclusion, I will firstly picture how a widely accessible digital euro could look like and how it relates to current configurations around central bank money. Secondly, I will discuss what problems a digital euro might help tackling. Thirdly, I will sketch how an enlarged access to central bank money can be followed up with changes that foresee a re-organisation of finance more broadly.

Nominated essay in the category master students of the Future Markets Consultation essay contest

Towards the Wellbeing Economy: Implications for Public, Environmental and Financial Policy

There is a growing recognition that our economy has to be fundamentally. In the new paradigm that is starting to emerge, the well-being of people and the planet is put at the center of the economy and society is organized more democratically. In this way, it concerns both a shift ideas and in power. Besides exploring what this paradigm shift entails for the economy in general, our report takes a closer look at the following three fields: (1) the public sector, (2) environmental policy and (3) the financial sector.

The Reset of Capitalism (in Europe)

We need a ‘Great Reset’ or ‘Great Reallocation’ of capitalism in which European capital is being invested in European companies, and vice versa, European companies being financed with European capital; these investment decisions resulting from a dialogue between the European wealthy and European entrepreneurs; and this process being maximally supported and promoted by national and European laws and regulations. This idea was not born from gloomy nationalism or anti-globalism, but from the conviction that a better balance is needed between global and local, between place of production and place of consumption, between mobile wealth and immobile labor, between large-scale politics and small communities, between freedom and responsibility, between short- and long-term. A viewpoint for the Future Markets Consultation submitted by Dutch think tank Socires.

Cooperative Finance for a Faster Transition to Sustainability

This viewpoint is a call to let a parallel economy come into existence that empowers people and connects companies with a commitment sustainability (including social sustainability). An economy where money is only a means, not an end in itself. A parallel economy that is provided with the necessary financial resources through cooperative finance, with the aim of a powerful acceleration of the sustainable transition. A viewpoint submitted to the Future Markets Consultation by Dutch NGO United Economy.

Finding Virtue in the Finance Industry

“Finance can be a force for good in society but, over the past few decades, structural and behavioral changes have pushed the industry away from its mission of serving clients and supporting the economy in favor of enriching itself. At worst, financial services firms are mired in conflicts of interests, cloaked in opacity and complexity, and skewed by information asymmetry. Many of my students are keen to work in finance but concerned about being corrupted as soon as they walk into their first jobs. What can be done to restore confidence in the industry?”

A New Division between Public and Private for a Sustainable Financial System

The financial crisis of 2008, when Lehman Brothers went bankrupt, caused all kinds of financial and economic problems in the United States and Europe. Things became stable after a while, but prices of houses and stocks have been breaking new records. Is the financial crisis something of the past or a problem which is going to repeat itself? And if so, how can we prevent this from happening? A viewpoint submitted to the Future Markets Consultation by the Sustainable Finance Lab.

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