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Author: Stanley M. Davis Publisher: Harvard Business Press ISBN: 9781578511945 Category : Business & Economics Languages : en Pages : 201
Book Description
A radical realignment in the nature of wealth is under way--transforming ordinary individuals into powerful stewards of their own financial futures, and all corporations into risk managers. Deep structural shifts in financial markets and in economic value are profoundly altering the nature of wealth, catapulting most workers from spectators to players in the new economy. As of mid-1998, American households controlled 59 percent of all stocks held in the nation, a figure that underscores a fundamental new truth: wealth is not just for the wealthy anymore. In business, change occurs so fast that once-internal management activities, like setting prices, are now migrating into the marketplace. The role of human resource departments will transition from managers of administrative functions to builders of human asset portfolios, as the labor market establishes a price for each employee. And strategic risk units, the complement to strategic business units, will enable companies to identify, isolate, and trade risks in financial markets. In Future Wealth--the companion volume to the authors' bestselling book Blur, and the long-awaited follow-up to Stan Davis' famous Future Perfect--Davis and Meyer offer a compelling vision of what lies ahead. It relies on three major consequences of the newly connected economy: risk as an opportunity, not a threat; the growing efficiency of financial markets for human capital; and the need for new forms of social capital. These three developments are combining in ways that will forever change how individuals, companies, and societies create, accumulate, control, and distribute wealth. According to Davis and Meyer, wealth creation in the Information Age has been more financial (bearing, trading, and managing risks) than real (producing and consuming goods); wealth accumulation is shifting from earned income (salaries) to unearned (investments); and control of wealth is shifting from institutions to individuals. Davis and Meyer describe a world in the not-so-distant future in which we will trade everything of value--including human capital, talent, and other intangibles--in efficient markets. Companies will begin to invest directly in their employees, not secondarily through training and development, and to treat business units as units of financial risk whose worth equals the quality of their intellectual capital. Individuals will think less about jobs and more about investing in their own human capital. As average citizens gain more knowledge about investments, they will begin to accept higher risk for the potential of higher rewards, turning the concept of risk from threat to opportunity. But future wealth will depend not merely on a healthy appetite for risk, but also on stronger social safety nets designed to balance new individual freedoms with commensurate order. From how we work and earn, spend and save, manage our corporations, plan our mortgages, taxes, retirement, and more--the new economy will provide opportunities for every individual to reap unprecedented rewards. Describing both the enormous possibilities and potential consequences of this exciting new world, Davis and Meyer outline the principles that will help make every person's net worth and every corporation's growth add up to a society rich in both the human, financial, and real aspects of wealth.
Author: Stanley M. Davis Publisher: Harvard Business Press ISBN: 9781578511945 Category : Business & Economics Languages : en Pages : 201
Book Description
A radical realignment in the nature of wealth is under way--transforming ordinary individuals into powerful stewards of their own financial futures, and all corporations into risk managers. Deep structural shifts in financial markets and in economic value are profoundly altering the nature of wealth, catapulting most workers from spectators to players in the new economy. As of mid-1998, American households controlled 59 percent of all stocks held in the nation, a figure that underscores a fundamental new truth: wealth is not just for the wealthy anymore. In business, change occurs so fast that once-internal management activities, like setting prices, are now migrating into the marketplace. The role of human resource departments will transition from managers of administrative functions to builders of human asset portfolios, as the labor market establishes a price for each employee. And strategic risk units, the complement to strategic business units, will enable companies to identify, isolate, and trade risks in financial markets. In Future Wealth--the companion volume to the authors' bestselling book Blur, and the long-awaited follow-up to Stan Davis' famous Future Perfect--Davis and Meyer offer a compelling vision of what lies ahead. It relies on three major consequences of the newly connected economy: risk as an opportunity, not a threat; the growing efficiency of financial markets for human capital; and the need for new forms of social capital. These three developments are combining in ways that will forever change how individuals, companies, and societies create, accumulate, control, and distribute wealth. According to Davis and Meyer, wealth creation in the Information Age has been more financial (bearing, trading, and managing risks) than real (producing and consuming goods); wealth accumulation is shifting from earned income (salaries) to unearned (investments); and control of wealth is shifting from institutions to individuals. Davis and Meyer describe a world in the not-so-distant future in which we will trade everything of value--including human capital, talent, and other intangibles--in efficient markets. Companies will begin to invest directly in their employees, not secondarily through training and development, and to treat business units as units of financial risk whose worth equals the quality of their intellectual capital. Individuals will think less about jobs and more about investing in their own human capital. As average citizens gain more knowledge about investments, they will begin to accept higher risk for the potential of higher rewards, turning the concept of risk from threat to opportunity. But future wealth will depend not merely on a healthy appetite for risk, but also on stronger social safety nets designed to balance new individual freedoms with commensurate order. From how we work and earn, spend and save, manage our corporations, plan our mortgages, taxes, retirement, and more--the new economy will provide opportunities for every individual to reap unprecedented rewards. Describing both the enormous possibilities and potential consequences of this exciting new world, Davis and Meyer outline the principles that will help make every person's net worth and every corporation's growth add up to a society rich in both the human, financial, and real aspects of wealth.
Author: Francis McInerney Publisher: Truman Talley Books ISBN: 0312273428 Category : Business & Economics Languages : en Pages : 382
Book Description
The American economy has been turned upside down during the past decade in one of the most tumultuous economic revolutions in world history. The result: the United States has put more distance between itself and its commercial rivals than anyone imagined possible. Annual growth in the U.S. economy matches the size of whole countries. The Dow Jones Industrial Average has reached once-unthinkable heights. Three-quarters of the world's top fifty companies are now American. In FutureWealth, a superbly researched book, the authors provide a startling new way of looking at America's success. The reason for our exceptional performance is the breathtaking pace at which U.S. companies today substitute information for all other resources at their disposal. The authors explore major companies that have substituted information throughout their operations. They also show how the results have been dramatic in those companies' expanded bottom lines and rising stock valuations-- and how investors can both learn and profit from the information revolution around us. FutureWealth is a landmark book and a very timely read for investors, managers, and policy makers the world over.
Author: Karen Petrou Publisher: John Wiley & Sons ISBN: 1119726743 Category : Business & Economics Languages : en Pages : 291
Book Description
The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Karen Petrou is a leading financial-policy analyst and consultant with unrivaled knowledge of what drives the decisions of federal officials and how big banks respond to financial policy in the real world. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book: Presents practical ways America can and should tackle economic inequality with fast-acting results Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever Reveals the dangers of FinTech and BigTech companies taking over banking Shows how Facebook wants to control even the dollars in your wallet Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists Engine of Inequality: The Fed and the Future of Wealth in America should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
Author: Richard A. Morris Publisher: John Wiley & Sons ISBN: 0470885521 Category : Business & Economics Languages : en Pages : 70
Book Description
Leaving children with a substantial amount of money can be a boon or a burden. High-net-worth parents need to give their children an education to navigate today’s complex world. The question becomes how to raise children with a sense of reality and balance, imparting a strong work ethic, and making them good stewards of their wealth. Kids, Wealth, and Consequences enlightens high-net-worth parents about the unique issues they need to explore. The book addresses the ”hard” financial issues, such as investing and estate planning, as well as the “soft” emotional issues relating to values, family, and communication. Morris and Pearl detail strategies and techniques to help parents raise children who appreciate and know how to manage the wealth they inherit. Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth. Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.
Author: Brian S. Wesbury Publisher: McGraw Hill Professional ISBN: 0071369236 Category : Business & Economics Languages : en Pages : 219
Book Description
In the last half of the 19th century, the Industrial Revolution sparked a remarkable, historic series of innovations-the first transatlantic telegraph cable, electric lights and motors, automobiles, telephones, and more. This process of discovery and invention led to a noninflationary boom in economic growth, and the United States became the most powerful, most influential nation in history. Today, we are witnessing the same phenomenon. Computers, fax machines, the Internet, cellular telephones, satellite communication systems-all of these technological developments and more are working together to increase productivity and efficiency. Inflation is at its lowest level in years, while entrepreneurial activity is at an all-time high. Smaller government, fewer regulations, and lower taxes have created an ideal environment for innovation. America has entered a new era of wealth, and the wealth produced by that innovation is flowing through every level of the economy! In The New Era Of Wealth, influential economist Brian Wesbury tells you how take advantage of this transformed economy-and build long-term wealth for yourself and your family. This groundbreaking book reveals five key trends that will continue to feed the economic boom; four simple strategies to take advantage of those trends; the truth about today's P/E ratios-and why higher is sometimes better; 4 threats to the new prosperity-how to see them coming and sidestep them; and more. “/p> Far more than just another "How to Make Money" guide, The New Era Of Wealth is a comprehensive analysis of America's exciting new economy and the opportunities it provides. Filled with fascinating case histories, solid research, innovative investing strategies, and a sense of optimism that is both realistic and refreshing, it will change the way you view your place in today's economy-and send you into the new millennium armed with a wealth building program designed to minimize your long-term risk as it maximizes your return.
Author: James Robertson Publisher: ISBN: 9781900322980 Category : Business & Economics Languages : en Pages : 0
Book Description
'Future Money' explains in plain language and convincing detail how money is working to propel us toward the self-destruction of our species - and what we should do about it. Money is not itself the problem, but, in the way it works at present, it affects us as a diseased blood or brain system affects a living person.
Author: Alvin Toffler Publisher: Currency ISBN: 038552207X Category : Business & Economics Languages : en Pages : 514
Book Description
Since the mid-1960s, Alvin and Heidi Toffler have predicted the far-reaching impact of emerging technological, economic, and social developments on our businesses, governments, families, and daily lives. In REVOLUTIONARY WEALTH, they once again demonstrate their unparalleled ability to illuminate current trends and anticipate what they mean for the future. REVOLUTIONARY WEALTH focuses on how wealth will be created—and who will get it—in the twenty-first century. As the knowledge-based economy (a reality the Tofflers predicted forty years ago) continues to replace the industrial-based economy, they argue, money is no longer the sole determinate of wealth. The Tofflers explain that we are becoming a nation of “prosumers,” consuming what we ourselves produce, and argue that we have all taken on “third jobs”—work we unwittingly do without pay for some of the biggest corporations in the country. Using fascinating examples from our daily lives, they illustrate how our everyday activities—from parenting and volunteering to blogging, painting our houses, and improving our diets—contribute to a non-monetary economy that is largely hidden from economists. Writing with the same insight and clarity that made their earlier books bestsellers, the Tofflers present fresh, groundbreaking new ways of thinking about wealth.
Author: Edward N. Wolff Publisher: Oxford University Press, USA ISBN: 0199353956 Category : Business & Economics Languages : en Pages : 267
Book Description
Inheritances are often regarded as a great 'evil', enabling great fortunes to be passed from one generation to another, exacerbating wealth inequality, and reducing wealth mobility. Using data from the Survey of Consumer Finances, the Panel Study of Income Dynamics, and a simulation model over years 1989 to 2010, the author reports six major findings.
Author: Eswar S. Prasad Publisher: Harvard University Press ISBN: 0674258444 Category : Business & Economics Languages : en Pages : 497
Book Description
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
Author: Jl Collins Publisher: Jl Collins LLC ISBN: 9781737724100 Category : Languages : en Pages : 286
Book Description
"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we've created, understanding it is critical. "But Dad," she once said, "I know money is important. I just don't want to spend my life thinking about it." This was eye-opening. I love this stuff. But most people have better things to do with their precious time. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Unfortunately, benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms. Here's an important truth: Complex investments exist only to profit those who create and sell them. Not only are they more costly to the investor, they are less effective. The simple approach I created for her and present now to you, is not only easy to understand and implement, it is more powerful than any other. Together we'll explore: Debt: Why you must avoid it and what to do if you have it. The importance of having F-you Money. How to think about money, and the unique way understanding this is key to building your wealth. Where traditional investing advice goes wrong and what actually works. What the stock market really is and how it really works. Why the stock market always goes up and why most people still lose money investing in it. How to invest in a raging bull, or bear, market. Specific investments to implement these strategies. The Wealth Building and Wealth Preservation phases of your investing life and why they are not always tied to your age. How your asset allocation is tied to those phases and how to choose it. How to simplify the sometimes confusing world of 401(k), 403(b), TSP, IRA and Roth accounts. TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions). What investment firm to use and why the one I recommend is so far superior to the competition. Why you should be very cautious when engaging an investment advisor and whether you need to at all. Why and how you can be conned, and how to avoid becoming prey. Why I don't recommend dollar cost averaging. What financial independence looks like and how to have your money support you. What the 4% rule is and how to use it to safely spend your wealth. The truth behind Social Security. A Case Study on how this all can be implemented in real life. Enjoy the read, and the journey!
Author: Stanley M. Davis
Author: Stanley M. Davis
Author: Francis McInerney
Author: Karen Petrou
Author: Richard A. Morris
Author: Brian S. Wesbury
Author: James Robertson
Author: Alvin Toffler
Author: Edward N. Wolff
Author: Eswar S. Prasad
Author: Jl Collins