Arguing for a system free of omniscient financiers
A Call for Judgment:
Sensible Finance for a Dynamic Economy
by Amar Bhidé
$29.95 List Price
The decades-long boom in financial services has created tremendous wealth for a handful of people. The once-stodgy banking sector became a Xanadu for the quantitatively gifted, attracting talent that might have once been drawn to industry or academia. But has this transformation contributed to the growth of the real economy? In A Call for Judgment, economist Amar Bhidé argues that it has not. Rather, it has undermined the foundations of free-market capitalism by encouraging a dangerous centralization of financial decision making.
Unlike Simon Johnson and Joseph Stiglitz, economists who've also been sharply critical of the US financial system, Bhidé is an unapologetic classical liberal. In his 2008 book, The Venturesome Economy, he offered a brilliant critique of "techno-nationalism"—the view that innovation is
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