Author(s): Makrevska, T.
Article Тitle: OTHER PEOPLE’S MONEY –THE REAL BUSINESS OF FINANCE
Journal: International Dialogue: East-West
Publication Year: 2025
Publication Type: Journal Article
Article Type: Paper
Volume, Issue: 11(1)
Pages: 11-24
DOI:
ISSN (print): 1857-9299
ISSN (online): 1857-9302
UDC: 336.01/.02
338.124.4:336.74(100)
APA 7 citation
Makrevska, T. (2025). Other people’s money – the real business of finance. International Dialogue: East-West, 11(1), 11–24.
Harvard citation
Makrevska, T. (2025) ‘Other people’s money – the real business of finance’, International Dialogue: East-West, 11(1), pp. 11–24.
Abstract: Contemporary societies require finance. The proof for this is extensive and definitive, and the connection is apparent and causal. Observing the globe today, statistical data links income levels and growth per capita with advancements in finance. Even small efforts in enabling payments and offering microloans in developing nations can significantly impact economic activity. A nation can achieve prosperity only if it possesses an effective financial system, but this does not mean that a larger financial system guarantees greater prosperity for the country. One can have an excess of something beneficial. Financial innovation played a key role in the development of an industrial society; however, it does not imply that all current financial innovations aid economic growth. Numerous great ideas turn into poor ones when taken too far. Thus it is with finance. The finance industry currently has a significant influence in politics: it is the strongest industrial lobby and a key source of campaign funding. News bulletins provide daily updates on events occurring in ‘the markets’—referring specifically to securities markets. Business policy is heavily influenced by finance: the advocacy for ‘shareholder value’ has been a guiding principle for twenty years. Economic policy is shaped based on the perceptions of ‘the markets,’ and families are progressively compelled to depend on ‘the markets’ for their retirement safety.
Keywords:money, finance,financial crisis, liquidity, markets
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