The End of Banking

 

Source Ref http://www.endofbanking.org/the-author/  Blog Ref http://www.p2pfoundation.net/Transfinancial_Economics

The End of Banking explains why a financial system without banking is both desirable and possible in the digital age.

• The first part of the book presents the functions and the mechanics of traditional banking. It discusses how a delicate balance of government guarantees and banking regulation kept the flaws of banking under control in the industrial age.
• The second part explains how the digital revolution unsettled this balance. The rise of shadow banking is explained, and it is shown how an unsustainable boom in the shadow banking sector led to a banking panic: the financial crisis of 2007-08.
• The third part shows that the digital revolution has played a dual role. Information technology not only undermined the effectiveness of current banking regulation, but it also rendered banking redundant. An innovative blueprint for a modern financial system is presented and the implications of the end of banking are discussed.

Why should I read it?

The End of Banking distinguishes itself from other books about the financial crisis of 2007–08 in several ways.

• First, it reveals the fundamental financial techniques that are common to all forms of banking—whether it is performed by medieval goldsmiths or by today’s managers at investment banks.
• Second, it offers a lucid and accessible account of shadow banking that will enlighten many readers.
• Third, and most importantly, The End of Banking does not rehash the same old regulatory patches or radical reform proposals from the past. Instead, it elaborates a new and intuitive idea of how to adapt the financial system to the digital age.

Table of contents

List of Illustrations
List of Acronyms
Preface
Introduction

PART ONE – BANKING IN THE INDUSTRIAL AGE
1. The Need for Banking
2. The Mechanics of Traditional Banking
3. The Problems with Banking

PART TWO – BANKING IN THE DIGITAL AGE
4. Banking Is Not Limited to Banks
5. The Mechanics of Shadow Banking
6. The Financial Crisis of 2007–08
7. The Financial System after 2008

PART THREE – A FINANCIAL SYSTEM FOR THE DIGITAL AGE
8. Banking Is No Longer Needed
9. Accounting for the Future: End Banking
10. The Role of the Public Sector
11. The Big Picture

Conclusion
References
About the Author
Index