In "The Curse of Cash," Kenneth Rogoff, a world-renowned economist, presents a radical idea: getting rid of most paper money to fight crime, tax evasion, and financial crises. With a record $1.4 trillion in US dollars alone, paper money is feeding a massive underground economy, crippling monetary policy, and making us poorer and less safe. Rogoff offers a plan to phase out most paper money, leaving small-denomination bills and coins in circulation, and addresses the issues the transition will pose. This thought-provoking book is a must-read for anyone interested in economics, finance, politics, and social justice. Recommended for students of economics, finance, and political science, as well as professionals in banking, law enforcement, and policy-making, "The Curse of Cash" sheds light on the hidden costs and dangers of paper money and proposes a bold solution to some of the world's biggest problems. By exploring the links between cash, crime, corruption, terrorism, and economic inequality, Rogoff challenges us to rethink our assumptions about money and value, and to consider the implications of a cashless society for privacy, security, and social welfare. This book is also relevant to anyone interested in global affairs, technology, and the future of money.

Are you interested in the world of finance? Do you have a passion for helping people achieve their financial goals? Then a degree in Financial Planning may be the perfect fit for you! Financial Planning is a dynamic and exciting field that involves helping individuals and businesses manage their finances, plan for the future, and achieve their financial goals. It is an interdisciplinary field that combines elements of finance, accounting, economics, and law to create a comprehensive understanding of financial management. One of the most appealing aspects of Financial Planning is the potential to make a real difference in people's lives. As a Financial Planner, you can help your clients achieve their financial goals, whether it's saving for retirement, buying a home, or starting a business. You can also help businesses manage their finances, grow their profits, and create new opportunities. In recent years, there has been a lot of exciting research and innovation in the field of Financial Planning. From new investment strategies to cutting-edge technology, there are always new and exciting developments to explore. Some of the most inspiring academic figures in the field include Robert Shiller, who won the Nobel Prize in Economics for his work on financial markets, and Richard Thaler, who won the Nobel Prize for his research on behavioral economics. At the undergraduate level, students can expect to take courses in financial accounting, investments, retirement planning, and tax planning, among others. There are also opportunities for further specialization in areas such as estate planning, risk management, and financial counseling. With a degree in Financial Planning, there are a wide range of potential career paths to explore. Graduates can work as Financial Planners, Investment Advisors, Wealth Managers, and Insurance Agents, among others. Key industries for prospective future employment include banking, insurance, investment firms, and accounting firms. Notable potential employers include Goldman Sachs, JPMorgan Chase, and Morgan Stanley. To succeed in Financial Planning, students should have strong analytical skills, an aptitude for numbers, and a passion for helping others. A background in math, economics, or finance can also be helpful. If you're interested in a career in finance that allows you to make a real difference in people's lives, then a degree in Financial Planning may be the perfect fit for you!

Have you ever wondered why some CEOs earn hundreds of times more than their employees? In recent years, the topic of excessive CEO compensation has gained widespread attention and sparked intense debate. While some argue that CEOs deserve high pay for their leadership and contributions to their companies' success, others believe that such compensation is unjustified and contributes to economic inequality. In this write-up, we will explore the justifications for and advances in the area of excessive CEO compensation, and discuss the impact it has on the economy and society at large. One common argument in favor of excessive CEO compensation is that it serves as an incentive for CEOs to work harder and make better decisions. Supporters of this view believe that the promise of a large salary and bonuses motivates CEOs to maximize their companies' profits and shareholder value. However, critics argue that this argument is flawed, as there is little evidence to suggest that higher pay leads to better performance. In fact, some studies have found that excessive CEO compensation can lead to short-term thinking, risk-taking, and unethical behavior. In recent years, there have been several advances in the area of excessive CEO compensation. One significant development is the increased attention and scrutiny placed on CEO pay by shareholders, activists, and the media. This has led to a greater focus on the link between CEO pay and company performance, as well as the need for greater transparency and accountability in executive compensation. Another development is the rise of shareholder activism, in which investors use their power to influence companies' decisions on CEO pay and other issues. To fully understand the topic of excessive CEO compensation, it is important to be familiar with certain academic terms and concepts. One such term is "pay ratio," which refers to the ratio of CEO pay to median employee pay. Another important concept is "stock options," which are a form of executive compensation that gives CEOs the right to buy company stock at a set price. Additionally, "agency theory" is a key concept that is used to explain and resolve issues in the relationship between CEOs and their companies' shareholders. Several leading academics have made significant contributions to the study of excessive CEO compensation. One of these scholars is Lucian Bebchuk, a professor at Harvard Law School who has written extensively on the topic. Bebchuk argues that excessive CEO pay can lead to a misalignment of interests between executives and shareholders, and calls for reforms to address this issue. Another important academic in this area is Steven N. Kaplan, a professor at the University of Chicago Booth School of Business. Kaplan's research focuses on the link between CEO pay and company performance, and he has found that the relationship between the two is more complex than previously thought. Excessive CEO compensation is a complex and controversial topic that has significant implications for the economy and society.

Don't throw good money after bad! A recent study by Wharton finance professor Marius Guenzel, titled "In Too Deep: The Effect of Sunk Costs on Corporate Investment," reveals that sunk costs can lead to significant distortions in investment decisions made by firms. Find out why CEOs ignore the principle of sunk costs and how it can impact a company's performance. The article also discusses strategies that firms can use to overcome the sunk cost fallacy and make more effective investment decisions.

The topics of securitisation and the global financial crisis are not just about numbers, facts, and statistics, but also about human failure, greed, and risk. It's a tale of how a small spark in the world of finance led to a massive explosion that shook the global economy to its core. Let's start with the basics. Securitisation is the process of pooling together various financial assets and then selling securities backed by those assets to investors. The idea behind securitisation was to spread the risk of default among many different investors and make the financial system more stable. However, the reality was far from what was promised. The global financial crisis of 2008 was triggered by the collapse of the housing market, which had been the backbone of the securitisation industry. The crisis was caused by the failure of the rating agencies, who were supposed to assess the risk associated with securities, but instead, gave high ratings to securities backed by risky loans. Ever heard of the term NINJA loans? No Income, No Job, No Assets - these were the types of loans that were being securitised and sold to investors. The financial industry was full of these loans, and the ratings agencies were happy to give high ratings to these securities, leading to the financial crisis. Leading academics such as Raghuram Rajan and Joseph Stiglitz have made significant contributions to the field of securitisation and the global financial crisis. Rajan highlighted the dangers of the financial system's reliance on securitisation, while Stiglitz criticised the rating agencies for their role in the crisis. We hope this write-up has inspired you to dive deeper into the world of securitisation and the global financial crisis. It's a fascinating topic with real-life examples and lessons to be learned. So, grab a book, turn on a documentary, or start a project, and let your imagination take you on a journey to a world of risk, failure, and exploration.

Learning about Ponzi schemes can help you become a more informed investor and a smarter consumer. Ponzi schemes are scams that offer high returns on investments but actually use new investors’ money to pay earlier investors. Bernie Madoff's Ponzi scheme, the largest in history, conned tens of billions of dollars from investors over multiple decades. Understanding how Ponzi schemes work can help you avoid falling victim to them and make better choices with your money. Learning about Ponzi schemes can also help you develop critical thinking skills as you evaluate investment opportunities and assess their legitimacy. By delving into this topic, you can become more financially savvy and protect yourself from fraudulent schemes.

Andrew Ross Sorkin's "Too Big to Fail" is a gripping account of the financial crisis that shook the world economy to its core. With unprecedented access to the key players involved, Sorkin takes us behind the scenes of secret meetings in South Korea, the corridors of Washington, and the corner office at Lehman Brothers. The book is a real-life thriller, revealing never-disclosed details and the decisions made on Wall Street that sowed the seeds of the debacle. This is a must-read for anyone interested in the world of finance, politics, and the fate of the global economy. Recommended for finance enthusiasts, political science students, and anyone interested in understanding the causes and consequences of the 2008 financial crisis. This book provides a moment-by-moment account of how the crisis developed into a global tsunami, with unprecedented access to the key players involved. It sheds light on the decisions made on Wall Street that led to the collapse of Lehman Brothers and the subsequent bailout of the world's biggest banks. Anyone looking to gain insights into the workings of the finance industry and the role of politics in shaping the global economy will find this book a fascinating read.

Enter the mind of Adam Smith, the father of modern economics, and explore his magnum opus, 'The Wealth of Nations'. This classic work, considered the first modern work of economics, delves into the nature and causes of wealth in society. Smith's insights on political economy and moral philosophy continue to shape economic thought today. With an unabridged and illustrated eBook report, readers can navigate through Smith's complex ideas with ease. Discover the antidote to superstition and enthusiasm with 'The Wealth of Nations'." Recommended for students of economics, political science, and philosophy, as well as anyone interested in the history of economic thought. This book provides a foundational understanding of modern economics and the role of government in shaping economic policy. Additionally, those interested in the intersection of morality and economics will find Smith's insights on the subject thought-provoking. The book is also valuable for professionals in the fields of finance and business, as it offers a historical perspective on the evolution of economic systems. Overall, 'The Wealth of Nations' is a must-read for anyone seeking to deepen their understanding of economics and its impact on society.

Social media has changed the dynamics of bank runs, as seen in the case of Silicon Valley Bank where depositors fled at an extraordinary rate of $40bn in one day due to social media chatter. This raises concerns about the fragility of the banking system built on faith and trust. The speed at which runs can take place and social media can be translated into loss is a new challenge that regulators need to address. The source passage explores the impact of social media on bank runs and the need for regulatory responses.

The rise of the sharing economy has revolutionized the way we live, work and play. From car sharing and home sharing to peer-to-peer lending and crowdfunding, the power of peer-to-peer exchange has disrupted traditional industries, challenged existing regulations, and transformed our understanding of ownership, trust, and community. But what exactly is peer-to-peer economy, and what are the opportunities and challenges it presents for students interested in exploring this cutting-edge academic topic? Peer-to-peer economy refers to a decentralized and networked system of exchange that allows individuals to share, borrow, rent, or sell goods and services directly with each other, often facilitated by online platforms and apps. The key features of peer-to-peer economy are its peer-to-peer nature, its disintermediation of middlemen, its emphasis on trust and reputation, and its potential for collaborative consumption, innovation, and empowerment. The opportunities of peer-to-peer economy are manifold. For example, it can democratize access to resources, reduce waste and carbon footprint, promote social cohesion and inclusivity, and foster entrepreneurship and creativity. According to a report by PwC, the global sharing economy is projected to grow from $15 billion in 2013 to $335 billion in 2025, with sectors such as transportation, accommodation, and finance leading the way. However, the challenges of peer-to-peer economy should not be overlooked. These include issues of regulation, taxation, liability, safety, privacy, and labor rights, as well as the potential for digital divides, fraud, discrimination, and exploitation. Moreover, the impact of peer-to-peer economy on social norms, cultural values, and the common good is still under debate and scrutiny. In conclusion, the peer-to-peer economy is a fascinating and dynamic topic that offers students a wealth of opportunities and challenges to explore. By reading, reflecting, writing, and engaging in self-directed projects, students can gain a deeper understanding of this transformative phenomenon and its implications for the future of work, consumption, and society. So why not take the leap and start your journey of discovery today? The peer-to-peer economy is waiting for you!

The global financial crisis of 2008 led to economic turmoil and widespread job loss, but the role of OTC (over-the-counter) derivatives in the crash is not well understood. These complex financial instruments were designed to reduce risk, but they amplified it, resulting in massive losses and a bailout that cost taxpayers trillions of dollars. OTC derivatives are contracts that allow parties to speculate on the future value of assets such as stocks, bonds, or commodities. They are privately negotiated and not traded on public exchanges, which makes them less transparent and harder to regulate. Banks and other financial institutions created increasingly complex and risky derivatives, such as credit default swaps (CDS) that allowed investors to bet on the likelihood of default on mortgages and other debt in the years leading up to the crisis. When the housing bubble burst and homeowners began defaulting on their mortgages, the value of CDS contracts plummeted, causing massive losses for those who held them. This triggered a chain reaction of failures and bailouts as banks tried to shore up their balance sheets and avoid bankruptcy. The government bailouts of banks and other financial institutions during the crisis are estimated to have cost $12.8 trillion globally, including direct and indirect costs such as lost tax revenue and economic output. Leading academics have been critical of the lack of transparency and regulation in the OTC derivatives market. Senator Elizabeth Warren, a law professor and former chair of the Congressional Oversight Panel for TARP, has argued that the complexity and opacity of these instruments makes it difficult to assess risk and protect consumers. Nobel laureate economist Joseph Stiglitz has also warned of the dangers of unregulated financial innovation, calling for stronger oversight and better risk management. Understanding the role of OTC derivatives in the global financial crisis is a lesson in the need for transparency, accountability, and responsible risk management in the world of finance. By exploring this and related topics in more depth, students can gain valuable insights into the workings of the economy and the forces that shape our world.

Cryptocurrency ventures are filing for bankruptcy, raising concerns about regulatory protection for retail consumers. Thomas Kalafatis and Richard Nesbitt argue that while cryptographically enhanced commerce is here to stay, regulators must become more aggressive with both coins and programming code to keep externalities under control. The lack of protection for disadvantaged consumers imposes a disproportionate cost of failure. Despite clear regulations, fraud still occurs, and more uniform and less arbitrageable regulation is needed to meet the public's demand for the benefit of cryptographically enhanced commerce.

In Competition Policy in America, Rudolph Peritz explores the complex and often contradictory visions of free competition that have shaped modern political economy. Through examining congressional debates, court opinions, economic and political scholarship, and administrative agency activities, Peritz shows how the discourse of free competition has mediated between individual liberty and rough equality. This indispensable framework provides insight into political campaign finance reform, corporate takeover regulation, and current attitudes toward the New Deal Legacy. Peritz's historical inquiry is a must-read for anyone interested in understanding the evolution of modern political economy. Recommended for students of law, history, economics, sociology, and political science, Competition Policy in America provides a unique perspective on the role of free competition in shaping modern public policy. This book will be particularly relevant to those interested in political campaign finance reform, corporate takeover regulation, and the New Deal Legacy. Peritz's analysis of the two distinct and sometimes contradictory visions of free competition provides a valuable framework for understanding the evolution of modern political economy, making this book a must-read for policy makers and business professionals alike.

Financial regulators have finally taken an interest in cryptocurrencies due to political pressure, despite law enforcement closely monitoring transactions for years. While crypto may not pose significant micro or macro concerns, regulators are compelled to act. However, their actions may backfire, warns Dr Jon Danielsson.

Did you know that corporate fraud may be more widespread than we think? According to Professor Alexander Dyck and his team, 3% of U.S. companies are caught committing fraud each year under typical surveillance, but the real number may be closer to 10%. Their research, which examines the impact of the Enron scandal on detecting fraud, also estimated that fraud destroys about 1.6% of a company's equity value, representing about $830 billion in current U.S. dollars. This research will inspire you to explore the topic further and think critically about the role of regulation and oversight in corporate governance.

Why do companies manipulate their financial reports? A new study shows that the financial incentives of rank-and-file employees play a significant role in shaping corporate financial reporting. Researchers found that higher pay and fixed compensation for junior accountants can improve accounting quality, while cash bonuses tied to corporate earnings can lead to aggressive revenue recognition and misreporting. Learn more about the bean counters' dilemma and its impact on financial reporting in this thought-provoking study by the Stanford Graduate School of Business and the University of Washington's Foster School of Business.

This text is the ultimate guide to the intersection of law and economics, covering everything from common law to the Constitution. Written by a highly distinguished author, it's accessible to those without prior knowledge of economics or mathematics and includes end-of-chapter sections to reinforce learning. This edition is updated with new information, including insights on Enron and other corporate scandals, the legal regulation of national security and foreign affairs, and expanded coverage of foreign law and intellectual property. This guide provides excellent coverage of topics ranging from common law to the Constitution ensures its relevance to those studying law, while also addressing economic issues for those studying economics. It also delves into emerging fields such as behavioral finance and internet law. The updated information in this edition is particularly noteworthy, with expanded coverage of foreign law and intellectual property. Overall, this guide is an excellent tool for those seeking to deepen their understanding of the interplay between law and economics, and to stay up-to-date with the latest developments in the field.

Discover the hidden world of Glasgow's "Sugar Aristocracy" and the Scottish connection to Caribbean slavery, 1775-1838, in a new book-length study by (Author). Explore the influence of metropole and colony in this innovative analysis, using a broad range of sources to illuminate the business practices and financial dealings of West India merchants and planters.

Former Goldman Sachs executive, Roger Ng, has been sentenced to 10 years in prison for his role in the 1MDB scandal. The scandal involved the looting of billions of dollars from Malaysia's sovereign wealth fund, leading to massive fines for Goldman and rocking Malaysian politics. Ng had denied the charges, but prosecutors argued he played a key role in a corruption scheme that took funds intended for development projects and used them for bribes and personal gain. Learn more about this audacious scheme and its impact on global institutions.

If you're a student who is intrigued by the complex and ever-changing world of business, corporate law could be the perfect career path for you. Corporate lawyers play a critical role in advising companies on legal matters and helping them navigate the intricate web of laws and regulations that govern modern commerce. Here's a closer look at what a career in corporate law entails and why it might be a great fit for you. Corporate law is a fascinating field that blends business and law, with a focus on the legal issues that arise in the context of corporate activities. Corporate lawyers help companies with a wide range of legal matters, such as structuring and negotiating business transactions, complying with regulatory requirements, and resolving disputes. Some corporate lawyers work in-house for a single company, while others work for law firms that provide legal services to multiple clients. One of the most appealing aspects of a career in corporate law is the opportunity to work on high-stakes deals and transactions that can have a significant impact on the global economy. For example, a corporate lawyer might work on a merger between two multinational companies, help a startup navigate the legal hurdles of an initial public offering (IPO), or advise a Fortune 500 company on a major joint venture. The work can be challenging, but also incredibly rewarding. In terms of day-to-day responsibilities, corporate lawyers often research and analyze legal issues, draft contracts and other legal documents, and advise clients on the legal implications of various business decisions. Some corporate lawyers specialize in particular areas of law, such as securities law, tax law, or intellectual property law. Others work in related fields such as mergers and acquisitions, private equity, or investment banking. To become a corporate lawyer, you'll typically need to earn a law degree (J.D.) and pass the bar exam in the state where you plan to practice. Some popular undergraduate majors for aspiring corporate lawyers include business, economics, and political science. Many law schools offer courses and clinics focused specifically on corporate law, and some also offer joint degree programs that combine law and business. In terms of personal attributes, successful corporate lawyers tend to be analytical, detail-oriented, and able to think strategically. They should also have excellent communication skills, as they will be working closely with clients, other lawyers, and business executives. The job prospects for corporate lawyers are generally strong, particularly at top law firms and in-house legal departments at large companies. Many of the world's leading law firms have dedicated corporate practices, and some of the most well-known names in the business world, such as Goldman Sachs, Microsoft, and Procter & Gamble, have large legal departments that employ corporate lawyers.