Prof JR Varma has a blog post which debates Uberisation of finance. They key idea here is whether innovations in finance can/should be ahead of regulation. Moreover, should regulation kill or allow innovation?
He quotes from a paper by Pollman and Barry in regulatory arbitrage. The business is done under the assumption that law shall be changed in their favor overtime. In finance we are seeing a surge in technology which also relies on regulatory arbitrage. So, how do we think this will pan out?
Prof Varma points firstly current finance players are fairly tech savvy and know the game. Second and more interestingly is this thing that historically most finance innovations come from criminal enterprise itself!
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Where are the customers’ yachts? is a famous wiley book. Written in 1920’s it is about the financial industry which just rewards itself but not the customers.
Not much has changed. In this note, Neel Kashkari of PIMCO points to some interesting trends in Active MF industry.
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After the flurry of coverage a couple of weeks ago over the remuneration of Adrian Orr, chief executive of the New Zealand Superannuation Fund, debate seems to have turned towards the more substantive issues around the role of the Fund. The chief executive has been out, in his usual feisty and rather opportunistic style, defending the Fund, advocating for it to be given more money to invest and so on. One could reasonably question whether the latter in particular is the role of a public servant. His job, surely, is to invest the money the government has chosen, under the terms of the legislation, to place with NZSF. Wisely, in my view, no more money has been placed with Fund since 2009 (although even then I thought it was shame the government didn’t simply wind up the Fund). But this is now an election campaign issue, with the Labour Party vocally…
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"Wild animals have worse lives than farmed animals," says "Journal of Practical Ethics". https://t.co/3KMJ8zMpHl pic.twitter.com/1hSoy517lE — Rolf Degen (@DegenRolf) March 13, 2017
Originally posted on Watts Up With That?:
Guest essay by Eric Worrall High Drama in Australian Green Politics – The Premier of the failed energy state of South Australia has publicly clashed with Federal Energy and Environment Minister Josh Frydenberg…