This short book describes the role big banks played in the financial crisis of 2008 while denouncing the financial oligarchy's seizing of power and the dangers it represents for democracy today. There have been many books since the financial crisis that have considered historical events leading up to the crisis but few that consider a solution. Ten years after the great financial crash, this book synthesises the historical developments and introduces a proposal aimed at rebalancing the economy and society at large. The author presents a novel solution that would change current tax systems in the developed world, in their entirety.

This book will be of interest to students, practitioners and researchers, as well as the wider informed audience.

Proposes a new micro-tax be applied to all electronic payments (household and financial sector level) that would allow for all other taxes to be reduced and possibly abolished. Promotes the need for critical thinking at undergraduate and graduate levels Engages in a topical debate that continues to underpin the future stability of the economics discipline

Autorentext
Marc Chesney is Professor of Finance and Director of the Department of Banking and Finance at the University of Zurich, Switzerland. He was previously Professor and Associate Dean at HEC Paris from 1993 until 2000 and is currently a member of the European NGO Finance Watch. For many years he has been developing a critical analysis of the financial sector as well as casino finance.

Inhalt
Introduction: The sinking of civilisation in the name of its salvation.- 1. Yesterday and today.- 2. Trying to satisfy financial markets is but a vain task.- 3. Liberalism: the financial sphere does not practice what it preaches.- 4. Characteristics of casino finance.- 5.The birth of homo-financiarius and the subservience of the elite.- 6. Some remedies and solutions.