Résultats de recherche de titre
Articles 1 à 20 sur 32
The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy
Par Kenneth S. Rogoff. 2017
“A brilliant and lucid new book” (John Lanchester, New York Times Magazine) about why paper money and digital currencies lie…
at the heart of many of the world’s most difficult problems—and their solutionsIn The Curse of Cash, acclaimed economist and bestselling author Kenneth Rogoff explores the past, present, and future of currency, showing why, contrary to conventional economic wisdom, the regulation of paper bills—and now digital currencies—lies at the heart some of the world’s most difficult problems, but also their potential solutions. When it comes to currency, history shows that the private sector often innovates but eventually the government regulates and appropriates. Using examples ranging from the history of standardized coinage to the development of paper money, Rogoff explains why the cryptocurrency boom will inevitably end with dominant digital currencies created and controlled by governments, regardless of what Bitcoin libertarians want. Advanced countries still urgently need to stem the global flood of large paper bills—the vast majority of which serve no legitimate purpose and only enable tax evasion and other crimes—but cryptocurrencies are like $100 bills on steroids.The Curse of Cash is filled with revealing insights about many of the most pressing issues facing monetary policymakers, from quantitative easing to alternative inflation targeting regimes. It also explains in detail why, if low interest rates persist, the best way to reinvigorate monetary policy is to implement fully effective and unconstrained negative interest rates.Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash has sparked widespread debate and its ideas have moved to the center of financial and policy discussions.The Euro and the Battle of Ideas
Par Markus K. Brunnermeier, Harold James, Jean-Pierre Landau. 2017
How philosophical differences between Eurozone nations led to the Euro crisis—and where to go from hereWhy is Europe's great monetary…
endeavor, the Euro, in trouble? A string of economic difficulties in Greece, Ireland, Spain, Italy, and other Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe’s survival.As the authors demonstrate, Germany, a federal state with strong regional governments, saw the Maastricht Treaty, the framework for the Euro, as a set of rules. France, on the other hand, with a more centralized system of government, saw the framework as flexible, to be overseen by governments. The authors discuss how the troubles faced by the Euro have led its member states to focus on national, as opposed to collective, responses, a reaction explained by the resurgence of the battle of economic ideas: rules vs. discretion, liability vs. solidarity, solvency vs. liquidity, austerity vs. stimulus.Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe’s future.Plains Vizcachas: Biology and Evolution of a Peculiar Neotropical Caviomorph Rodent
Par Luciano Luis Rasia, Claudio Gustavo Barbeito, Francisco Acuña. 2024
The plains vizcacha (Lagostomus maximus) is a remarkable rodent of the Neotropic given several peculiar aspects of its biology, some…
of them quite unique among rodents or even among mammals. This book gathers specialists studying plains vizcachas from very different approaches, including paleontology, systematics, morphology, physiology, development and conservation. It is divided in two Parts, 1) Evolutionary History, and 2) Morphology, Development and Physiology. It will surely be a required reading for any researcher working with caviomorph rodents, mastozoology of the Neotropics or internal anatomy and physiology of mammals.Put your dinosaur knowledge to the test with this brilliant quiz book for kids!Introducing Dinosaur Knowledge Genius! - a brilliant…
quiz book packed with over 80 topics on the fascinating prehistoric world of dinosaurs. Which were the most fearsome predators? How big were the most gigantic plant-eaters? Why did so many dinosaurs have frills, crests, or spikes? Did dinosaurs really lay eggs? Which ones had feathers? If you want to know the answers, then this may be the book for you! Take on this brain-busting challenge about prehistoric life.This dinosaur quiz book for children aged 9-12 offers: - Plenty of quiz questions throughout the book to put your knowledge to the test.- Interactive &“Test Yourself&” panel lists with three levels of difficulty - starter, challenger, and genius.- Impressive dinosaur graphics that jump out at you on every page.- A variety of fun facts, picture puzzles, and quiz questions to keep kids entertained and engaged.As you hop from one dinosaur species to the next, you will learn all about the fascinating prehistoric world in this entertaining quiz book for kids and the whole family to enjoy. The pages are packed with eye-popping pictures and the "Test Yourself" panels list the type of dinosaur you&’re looking for on the page. With three levels of difficulty, the challenge gets harder from Starter to Challenger and the truly tricky Genius category. There's a fun fact with every picture to give a helpful clue.At DK, we believe in the power of discovery. So why stop here? Why not put your general knowledge to the test with other books in the Knowledge Genius series? Try General Knowledge Genius! to learn about everything, explore the animal world with Animal Knowledge Genius! or explore our planet with Earth Knowledge Genius!The Invention of Prehistory: Empire, Violence, and Our Obsession with Human Origins
Par Stefanos Geroulanos. 2024
“[A]n incisive and captivating reassessment of prehistory . . . In lucid prose, Geroulanos unspools an enthralling and detailed history…
of the development of modern natural science. It’s a must-read.” —Publishers Weekly, starred review “An astute, powerfully rendered history of humanity.” —Kirkus Reviews, starred review An eminent historian tells the story of how we came to obsess over the origins of humanity—and how, for three centuries, ideas of prehistory have been used to justify devastating violence against others. Books about the origins of humanity dominate bestseller lists, while national newspapers present breathless accounts of new archaeological findings and speculate about what those findings tell us about our earliest ancestors. We are obsessed with prehistory—and, in this respect, our current era is no different from any other in the last three hundred years. In this coruscating work, acclaimed historian Stefanos Geroulanos demonstrates how claims about the earliest humans not only shaped Western intellectual culture, but gave rise to our modern world. The very idea that there was a human past before recorded history only emerged with the Enlightenment, when European thinkers began to reject faith-based notions of humanity and history in favor of supposedly more empirical ideas about the world. From the “state of nature” and Romantic notions of virtuous German barbarians to theories about Neanderthals, killer apes, and a matriarchal paradise where women ruled, Geroulanos captures the sheer variety and strangeness of the ideas that animated many of the major thinkers of the eighteenth and nineteenth centuries, including Jean-Jacques Rousseau, Charles Darwin, and Karl Marx. Yet as Geroulanos shows, such ideas became, for the most part, the ideological foundations of repressive regimes and globe-spanning empires. Deeming other peoples “savages” allowed for guilt-free violence against them; notions of “killer apes” who were our evolutionary predecessors made war seem natural. The emergence of modern science only accelerated the West’s imperialism. The Nazi obsession with race was rooted in archaeological claims about prehistoric IndoGermans; the idea that colonialized peoples could be “bombed back to the Stone Age” was made possible by the technology of flight and the anthropological idea that civilization advanced in stages. As Geroulanos argues, accounts of prehistory tell us more about the moment when they are proposed than about the deep past—and if we hope to start improving our future, we would be better off setting aside the search for how it all started. A necessary, timely, indelible account of how the quest for understanding the origins of humanity became the handmaiden of war and empire, The Invention of Prehistory will forever change how we think about the deep past.A remarkable debut by one of America's premier young reporters on financial corruption, Casey Michel's American Kleptocracy offers an explosive…
investigation into how the United States of America built the largest illicit offshore finance system the world has ever known."An indefatigable young American journalist who has virtually cornered the international kleptocracy beat on the US end of the black aquifer."—The Los Angeles Review of Books For years, one country has acted as the greatest offshore haven in the world, attracting hundreds of billions of dollars in illicit finance tied directly to corrupt regimes, extremist networks, and the worst the world has to offer. But it hasn’t been the sand-splattered Caribbean islands, or even traditional financial secrecy havens like Switzerland or Panama, that have come to dominate the offshoring world. Instead, the country profiting the most also happens to be the one that still claims to be the moral leader of the free world, and the one that claims to be leading the fight against the crooked and the corrupt: the USA.American Kleptocracy examines just how the United States’ implosion into a center of global offshoring took place: how states like Delaware and Nevada perfected the art of the anonymous shell company, and how post-9/11 reformers watched their success usher in a new flood of illicit finance directly into the U.S.; how African despots and post-Soviet oligarchs came to dominate American coastlines, American industries, and entire cities and small towns across the American Midwest; how Nazi-era lobbyists birthed an entire industry of spin-men whitewashing trans-national crooks and despots, and how dirty money has now begun infiltrating America's universities and think tanks and cultural centers; and how those on the front-line are trying to restore America's legacy of anti-corruption leadership—and finally end this reign of American kleptocracy.Making the African Continental Free Trade Agreement a Success: Pathways and a Call for Action
Par Edited ByAlbert Zeufack, Fulbert Tchana Tchana, Aly Sanoh. 2024
In 2019, African heads of state and governments launched in fanfare the African Continental Free Trade Agreement (AfCFTA), a historic…
agreement for economic transformation across the continent. But now comes the hard bit: how to make the agreement a success?In this book, senior experts from across the world come together to provide a comprehensive analysis of the conditions needed for AfCFTA to successfully spur economic development in Africa. It puts forward three foundations for success: demography dividend, digital economy, and economic diversification. In addition to trade policy, the book recommends that African policymakers should strengthen fiscal and monetary policy coordination, adopt and implement the appropriate regulatory environment, and build suitable connectivity infrastructure. The stakes are high. If implemented correctly, the book argues that AfCFTA could speed up trade within Africa, which could double every five years. Success would mean growth, investment, changing trade patterns, jobs, economic transformation, poverty reduction, and a continental market for services.Driven by concrete, evidence-based strategies for long-term growth, this book is an essential read for policy makers, development practitioners, economics researchers, and everyone with an interest in the future of Africa.Green Finance in China: Policies, Experiences and Challenges (Contributions to Finance and Accounting)
Par Wenting Zhang, Dawei Zhao. 2024
This book aims to provide first-hand information for readers concerned with green finance and sustainable development by summarizing the unique…
features, policies and practical innovations of green finance development in China and hoping to provide China's experience in the development of green finance for more regions. The global economy is currently facing historic opportunities that brings by a new round of technology, energy and industrial revolution. The new growth path of "green and low-carbon" development has become the main direction of the transformation of global economic development. What's China's green finance strategy? How does China deliver on the goal? This book builds an overview of China's green finance and sheds light on sustainable development topics from finance perspective.Strengthening Professional and Spiritual Education through 21st Century Skill Empowerment in a Pandemic and Post-Pandemic Era: Proceedings of the 1st International Conference on Education (ICEdu 2022), September 28, 2022, Malang, Indonesia
Par Syamsul Arifin, Ahmad Fauzi, Triastama Wiraatmaja, Eggy Fajar Andalas, Nafik Muthohirin. 2024
Discover a treasure trove of knowledge in the proceedings of the First International Confer-ence on Education (ICEdu). This meticulously curated…
collection of research papers delves into the transformative landscape of education in the 21st century, offering insights, solutions, and inspiration for educators, researchers, and policymakers alike.Explore a diverse range of subject areas, from pedagogical innovations to the challenges of digital learning and the impact of the COVID-19 pandemic on education. With 28 scholarly papers contributed by experts from around the world, this volume offers a comprehensive un-derstanding of the multifaceted issues in contemporary education.Whether you're an academic seeking fresh perspectives or an educator navigating the com-plexities of modern pedagogy, these proceedings provide invaluable guidance. Join us in shap-ing the future of education by harnessing the power of 21st-century skills, professional devel-opment, and spiritual growth.This book is an essential resource for anyone passionate about the advancement of education in the pandemic and post-pandemic era.The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license. Funded by Universitas Muhammadiyah Malang, Indonesia.Dino Dana: Dino Field Guide
Par J. J. Johnson, Christin Simms, Colleen Russo Johnson. 2020
A Dino Dana Field Guide of Dinosaurs for Kids (Ages 8-12)“This field guide is great for new and old dinosaur…
lovers. It alphabetically introduces dinosaurs and information about when and where they lived along with other tidbits about them. It is good for fun reading and can be used in homeschooling.” ―JustaBXMomNominated for Four Daytime Emmy® Awards#1 Bestseller in Children's Fossil BooksFun facts about dinosaurs for kids. Did you know that the brachiosaurus was the tallest dinosaur that we know of today? That the kosmoceratops had fifteen horns and hooks on its head? That the spinosaurus is the only known dinosaur to spend most of its time swimming? Discover this and much more in Dino Dana: Dino Field Guide.Dino Dana's field guide for your child. Fans of the Amazon Prime TV show Dino Dana will be so excited to have a Dino Field Guide of their own, put together by the incredible show's creator and executive producer, J. J. Johnson. Full of colorful illustrations and fascinating science facts, this dinosaur book is sure to amaze any young dino enthusiast.A great science book for kids. This book for children is perfect for any kid who likes history and science. In the Dino Dana field guide, your kids learn:Which time period each dinosaur lived inHow big the dinosaurs wereWhat kinds of things dinosaurs ate and did each dayAnd so much moreKids who like cool dinosaur books like Dinosaurs, National Geographic Little Kids First Big Book of Dinosaurs, The Big Book of Dinosaurs, or The Dinosaur Book will love Dino Dana: Dino Field Guide.The Great Crashes: Lessons from Global Meltdowns and How to Prevent Them
Par Linda Yueh. 2023
'A masterclass in spotting the early signs of a crisis' Nouriel Roubini'This is the historical perspective we need' John Kay'A…
first point of entry for anybody who wants to learn how the world sleep-walked into multiple crashes' Daron Acemoglu'Fascinating, well-written and authoritative' Tim Harford-----------------------------------------------------------------The global economy has weathered the most tumultuous century in modern financial history. Since America's Wall Street Crash of 1929, the global economy has weathered the most tumultuous century in financial history. From the currency crises of the 1980s, to Japan's housing meltdown, the dot com boom and bust, the global financial crash and the COVID pandemic, crash after crash has sent shockwaves through our world.The Great Crashes tells the stories of ten of these historic financial events. They serve as a series of cautionary tales, each with their own lessons to be learnt. With clear-eyed analysis, renowned economist Professor Linda Yueh uses these meltdowns to extract a critical three-step framework to help recognise the early signs of a crash, mitigate the effects and even prevent them in the future. There is very little that is certain in economics, except for this: there will be another financial crisis.Combining her in-depth knowledge with compelling storytelling, The Great Crashes is essential reading that offers urgent lessons for the modern world.-----------------------------------------------------------------'An important contribution that can help society anticipate and tackle potential crashes in the future' Christine LagardeThe Fossil Detectives: Discovering Prehistoric Britain
Par Douglas Palmer, Hermione Cockburn. 2008
Fossils provide us with a tantalizing glimpse of Britain's prehistoric past and hold the key to unlocking the secrets of…
life's history and evolution. Since the appearance of primitive organisms in Britain more than a billion years ago, oceans, deserts, swamps and vast mountains have come and gone in our corner of western Europe; forests of long-extinct trees, flowers and grasses have covered the land, and dinosaurs and other strange creatures have roamed across it. How do we know? The evidence is all around us - in the rocks and fossils that lie beneath the landscape.In this highly informative and practical book, which accompanies the BBC series, presenter Hermione Cockburn and renowned palaeontologist Douglas Palmer take an in-depth look at the most exciting fossil stories from around the country. When and why were dinosaur fossils first discovered in Britain? How was the biggest fish ever to have swum in the sea unearthed near Peterborough? What do modern medical techniques have to offer fossil hunters?Packed with colour photographs and illustrations, Fossils Detectives is full of surprising facts and features. And for those who want to try their hand at some fossil detecting of their own, the book includes an extensive regional gazetteer of fossil-hunting sites and places to visit, and guidance on identifying your fossil finds.Get ready for some time travel around Britain, with the Fossil Detectives!'Fascinating' Fintan O'Toole, Irish Times'It's a fascinating book. I ended up reading it till about four in the morning. It…
gives an incredible insight.' Shane Coleman, political editor, Newstalk'Excellent' Sam Smyth, Irish Mail on Sunday'A great read and I'd recommend it' Hugh Linehan, Irish Times'One of the best journalists I ever worked with ... his tell-all book is absolutely fascinating' Matt Cooper, Today FM'Like pulling back the curtains and getting a sneaky peak inside ... fascinating' Sinéad Desmond, Ireland AM, TV3After over forty years in national journalism, John Walshe thought he had seen and heard it all. That was until he got a once-in-a-lifetime opportunity to work in government and see how decisions are really made ...Having spent most of his career as an education correspondent, Walshe did not have to think twice about accepting incoming education minister Ruairi Quinn's invitation to become his special adviser. So in a matter of weeks he found himself in the seat of power in Government Buildings and up close and personal with some of the country most powerful decision-makers. It was heady stuff.An Education is John Walshe's revealing, surprising and entertaining inside account of what it's like be part of a government trying to get to grips with a country and an economy in free-fall. It is an anatomy of how choices are made, particularly when the choices are between swingeing cuts and drastic savings. And it is a gripping description of the ferocious day-to-day territorial battles and face-offs between the coalition parties and their backroom staff.Ruairi Quinn knew this would be his last cabinet post and he was determined to leave a legacy. Walshe documents the triumphs and disasters of Quinn's mission to reshape Irish education. In doing so he gets to the heart of the mix of idealism, egotism and pragmatism that ultimately drives those who govern.John Walshe's forty-month education on the corridors of power him left him much wiser about those who set out to do the state some service. His conclusions are sometimes encouraging and sometimes dismaying. But they are always enlightening. An Education is both lively and essential reading for anyone who wants to understand Irish politics in the raw.The Dreadful Monster and its Poor Relations: Taxing, Spending and the United Kingdom, 1707-2021
Par Julian Hoppit. 2021
'An invaluable primer to some of the underlying tensions behind contemporary political debate' Financial TimesIt has always been an important…
part of British self-image to see the United Kingdom as an ancient, organic and sensibly managed place, in striking contrast to the convulsions of other European countries. Yet, as Julian Hoppit makes clear in this fascinating and surprising book, beneath the complacent surface the United Kingdom has in fact been in a constant, often very tense argument with itself about how it should be run and, most significantly, who should pay for what.The book takes its argument from an eighteenth century cartoon which shows the central state as the 'Dreadful Monster', gorging itself at the dinner table on all the taxes it can grab. Meanwhile the 'Poor Relations' - Scotland, Wales and Ireland, both poor because of tax but also poor in the sense of needing special treatment - are viewed in London as an endless 'drain on the state'. With drastically different levels of prosperity, population, industry, agriculture and accessibility between the United Kingdom's different nations, what is a fair basis for paying for the state?The Private Sector's Role in Disasters: Leveraging the Private Sector in Emergency Management
Par Alessandra Jerolleman, John J. Kiefer. 2016
This book examines the role of the private sector in emergency management and how that role is changing through private…
sector intersections with government, government agencies, and the public sectors in all phases of emergency management. It particularly focuses on the areas in which government regulations and guidelines promote or encourage privSustainability Accounting, Management Control and Reporting: A European Perspective traces a picture of innovative performance measurement tools and approaches to…
drive organizations to implement their shared value and sustainability strategy, considering different perspectives around accounting, managerial control and reporting. In recent years, organizations managing their responsible approach with relevance and pressure from stakeholders and regulations has proven to be a major challenge. During the first two decades of the 21st century, many companies have reached a real maturity in this area and have deployed coherent responsible approaches that are integrated into their overall strategy. It is now a matter of steering these responsible approaches from an accounting and managerial standpoint, but also of reporting on them. It requires the simultaneous use of comprehensive accounting, controlling and reporting tools. This book provides an innovative perspective on sustainable management control, comprehensive accounting and integrated reporting, presenting the most recent proposals and the main critical issues. Aimed at researchers, academics, managers, business leaders and advanced students, the book will be especially valuable to those in the fields of corporate social responsibility, strategic management, and accounting.Descubre fascinantes datos y curiosidades sobre los animales que habitaron la Tierra hace millones de años y sorprende a tus…
amigos y familia.¿Sabías que el dinosaurio más grande que ha existido media tanto como cuatro camiones de bomberos uno detrás de otro? ¿O que el más pequeño pesaba menos que una cucharita de azúcar? ¿Quieres saber cuánto medían las alas del reptil volador más grande jamás descubierto? Sumérgete en las páginas de este divertido libro sobre dinosaurios y descubre todo sobre estas criaturas prehistóricas: cuánto medían las garras del Therizinosaurus, qué dinosaurio tenía el cerebro más pequeño, cuál tenía los dientas más afilados y ¡mucho más!El regalo perfecto para saciar el apetito de saber de los niños de un modo divertido: - Contiene más de 1000 curiosidades en formato de pregunta y respuesta.- Escrito de forma clara, con explicaciones entretenidas e impresionantes imágenes generadas por ordenador.- Con estadísticas alucinantes explicadas por medio gráficos y comparaciones visuales para entender los datos de forma fácil.Un divertido libro ilustrado para niños de 9 años o más, repleto de sorpresas y curiosidades alucinantes para que los jóvenes lectores descubran el maravilloso mundo de los dinosaurios.------------------------------------------Astonish your friends and family with this incredible collection of mind-boggling facts about the scariest animals ever to walk the Earth.Did you know that the largest dinosaur was four times longer than a fire engine but its babies were the size of geese? Or that the smallest dinosaur weighed less than a teaspoon of sugar? Or that the largest flying reptile was as tall as a giraffe with wings the size of a fighter jet? This fascinating first dinosaur book for kids is packed with bite-size nuggets of unbelievable information. Find out which dinosaur had the sharpest teeth, the longest claw and the smallest brain.Dive into the pages of this kids dinosaur book to discover: - 1,000 jaw-dropping, mind-blowing facts to wow your family and friends.- Stunning CGI images to convey statistics in an intuitive way that kids can understand.- Factfile spreads are packed with infographics and key facts on all kinds of prehistoric life.- Photo stories feature the world's spectacular fossils, from dinosaur footprints and nests to complete skeletons.- Fun, accessible text written to excite and entertain children and adults alike.Discover the fastest, the slowest, the deadliest, and the downright weirdest dinosaurs ever to roam the planet, in this dinosaur gift book for children aged 9+.Taxonomists specializing in different groups once based phylogenetic analysis only on morphological data; molecular data was used more rarely. Although…
molecular systematics is routine today, the use of morphological data continues to be important, especially for phylogenetic placement of many taxa known only from fossils and rare or difficult to collect species. In addition, morphological analyses help identify potential biases in molecular analyses. And finally, scenarios with respect to morphology continue to motivate biologists: the beauty of a cheetah or a baobab does not lie in their DNA sequence, but instead on what they are and do! This book is an up-to-date revision of methods and principles of phylogenetic analysis of morphological data. It is also a general guide for using the computer program TNT in the analysis of such data. The book covers the main aspects of phylogenetic analysis and general methods to compare classifications derived from molecules and morphology. The basic aspects of molecular analysis are covered only as needed to highlight the differences with methods and assumptions for analysis of morphological datasets.Corporate Social Responsibility and Governance: Stakeholders, Management and Organizational Performance in the European Union (Routledge Studies in Corporate Governance)
Par Panagiotis Dimitropoulos, Efthalia Elia Chatzigianni. 2022
Corporate social responsibility (CSR) has developed into a crucial corporate and organizational issue around the world. It has been incorporated…
into various sectors and countries, and includes many types of activities and dimensions. It is a common notion that organizations are more inclined today to broaden and shift their performance focus from short-term goals towards long-term social, environmental, and value-added perspectives.Under the framework of corporate governance, organizations and companies are motivated to promote fairness, transparency, ethics, and accountability in their transactions, while concurrently maintaining enhanced standards of governance. This means that organizations and corporations must align their activities with community aspirations which is an issue falling within the sphere of CSR. Increased attention has been placed on the organizations regarding their approach towards the needs of various stakeholders. However, a crucial issue that this book attempts to address is the association, intersection, and inter-relationship between governance and CSR within the EU region, which are not adequately established in the existing literature. The book will show that governance and CSR are highly connected. With the purpose of studying the association of CSR with legal, managerial and empirical aspects of governance in corporations and not-for-profit organizations, in various sectors of the economy, the book also intends to provide useful policy implications, as well as to offer constructive directions for future research. This book will be of value to researchers, academics, practitioners, policymakers, and students in the fields of CRS and governance, organizational theory, marketing management, business ethics and human resource management.The Politics of Public Fund Investing: How to Modify Wall Street to Fit Main Street
Par Ben Finkelstein. 2006
Until now, there has never been a book to help public fund managers direct fixed-income portfolios while simultaneously balancing politics,…
or the need to preserve principal, with economics, or the need to optimize income. The Politics of Public Fund Investing approaches public fund management from the lay perspective, providing much-needed guidance to modify Wall Street strategies to serve the needs of Main Street. If you manage a public fund, if you are an elected official, or if you oversee a portfolio for a foundation or an endowment, you know the traditional money management strategy used every day on Wall Street doesn't necessarily apply to your situation. For you, investing isn't simply about economics. Wall Street strategies do not take into account election cycles, political risk factors, or the unique performance assessments public funds must undergo. When Wall Street builds a portfolio, it doesn't need to consider the opinions and desires of a wide variety of constituents, and the management of the portfolio's performance doesn't carry the same level of career risk. This groundbreaking book is the first resource ever available to the stewards of public fund investing entrusted with the responsibility to make financial decisions in this unique environment. The Politics of Public Fund Investing shows readers how to evaluate and measure their funds' performance through specific techniques, standards, and procedures. It begins by addressing the key differences between Wall Street and Main Street, explaining which methods of Wall Street are unsuited to public fund management and why. The book provides a framework for moving from a static investment policy to a dynamic investment plan, making the important distinction between what is "legal" in terms of policy and what is "suitable" in terms of the objectives of the stakeholders. The book goes on to propose exceptional and beneficial insights into appraising a fund's performance along with providing a four-step process to build a politically correct portfolio. Finally, it shows how to be safe and optimize income within the constraints of acceptable risk. Based on years of experience and invaluable research, The Politics of Public Fund Investing is an innovative, compelling, and much-needed guide to navigating the complex territory where the political environment meets public investing.