The Future of Finance

This book presents a novel approach to the reform of the world's financial system, starting with the basic question, what is a financial system for? It shows that the existing system has become far more complicated than it needs to be to discharge its functions - and dangerously unstable into the bargain. It proposes some drastic remedies. "The Future of Finance: The LSE Report" is the work of a group of leading academics, financiers, journalists and officials from the UK's Financial Services Authority, the Bank of England and the Treasury. They met twelve times, for what many of those present described as the best and most searching discussions they had ever participated in. The first author is Adair Turner, chair of the Working Party of the G20 Financial Stability Board reporting to the G20 Summit in November 2010; the others are major international players in policymaking or public debate.