Pt. I. Financialisation: 1. History: The road to Pottersville
New markets, new businesses
2.Risk: Cows, coffee and credit default swaps
Adverse selection and moral hazard
3. Intermediation: The role of the middleman
4. Profits: Smarter people
I'll be gone, you'll be gone
How profitable is the finance sector?
pt. II. The functions of finance: 5.Capital allocation: Physical assets
Property and infrastructure
Financing small and medium-size enterprises
6.The deposit channel: Household wealth
The activities of the deposit channel
7.The investment channel: Stewardship
The role of the asset manager
pt. III. Policy: 8.Regulation: The origins of financial regulation
9. Economic policy: Maestro
Financial markets and economic policy
Pensions and inter-generational equity
10. Reform: Principles of reform
Robust systems and complex structures
11.The future of finance.