Title: Money, Finance, Reality, Morality
Subtitle: A New Way to Address Old Problems
Subject Classification:  Economics and Finance, Society and Culture  
BIC Classification: KF, KC, JF
BISAC Classification: BUS045000, BUS008000, BUS027000
Binding: Hardback, Paperback, eBook
Publication date: 09 Sep 2022
ISBN (Hardback): 978-1-80441-026-4
ISBN (eBook): 978-1-80441-027-1
ISBN (Paperback): 978-1-80441-260-2

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Description

Conventional explanations of the nature of money are weighed down by bad ideas and irrelevant historical evidence. The standard theory of finance is hampered by the lack of both sociological and ethical contextualization, and by sloppy thinking about numbers and time. Money, Finance, Reality, Morality addresses those weaknesses with truly novel models of how the economy, money, and finance actually work. The book analyses the perception of money as an economic tool (as compared to a symbolic and sociological object) as a highly functional quantitative token that assigns numerical values to the inherently unmeasurable economic activities of labour and consumption. It looks at finance as an often inferior solution to economic problems and a tool for helping the poor support the rich. And it explains how the tolerance of greed makes the money-finance system the weakest link in modern economies. Money, Finance, Reality, Morality, written without jargon or maths, will be of interest to students, teachers and practitioners in economics and finance, government and politics, religion, philosophy, and sociology. Author: Edward Hadas is a Research Fellow at Blackfriars Hall, Oxford University (UK). He was formerly an economics editor and columnist for Reuters Breakingviews. He also worked on the Financial Times' influential Lex column, following 25 years as a financial analyst with firms such as Morgan Stanley and Putnam Investments.

Biography

Author(s):  Edward Hadas is a Research Fellow at Blackfriars Hall, Oxford University (UK). He was formerly an economics editor and columnist for Reuters Breakingviews. He also worked on the Financial Times' influential Lex column, following 25 years as a financial analyst with firms such as Morgan Stanley and Putnam Investments.

Reviews

"In today’s world, economics is often perceived as a discipline heavily dominated by mathematics and statistics. However, against the backdrop of recurring global economic crises, Professor Edward Hadas of the University of Oxford offers a highly original perspective in his book Money, Finance, Reality, and Morality. He interprets money and finance not merely as economic mechanisms, but as profound moral and social phenomena. This approach provides a new dimension for understanding financial systems and compels us to reconsider the relationship between economics and morality. One of the greatest contributions of Money, Finance, Reality, Morality is the creation of the concept of “post-aristocratic finance,” around which all of the book’s arguments are constructed. Professor Hadas distinguishes between economic financing and social financing. Economic financing aims to promote economic development and offers reasonable returns on capital. In contrast, social financing functions as a form of “tribute,” whereby one social class transfers wealth to another—interest, in this framework, becomes a modern form of tribute. Although modern society has abolished the aristocracy, post-aristocratic finance preserves the old aristocratic social order through hidden production relations preserved by the existence of money."
- Gao Liankui. Economist, Chairman of the China Innovative Economics Forum, former Director of the UMass Dartmouth CIE Economic Research Center. Review translated by Joe Zhou, who also is the Chinese translator for Money, Finance, Reality, Morality