PART TWO

Resetting Finance for the Benefit of All

Part 2 examines a finance reset, focusing on products, markets, innovation, and behaviors. It delves into how we should view finance as a tool for everyone.

The new way of thinking discussed here is to see finance for what it really is, a tool. As we know, the hand is in control of the tool and not the tool in control of the hand. This basic principle should never be forgotten. The genie has been let out of the bottle, so now our collective efforts must be on regaining control over it. That control is well within our grasp, and only by gaining control can we achieve our aims. This endeavor does require us to revisit our understanding of how we can control finance and the ways in which we can channel its power. Understanding the key tenets underpinning finance is critical to us being able to implement the changes we need.

Chapter 8 looks at the key principles that anchor finance as I reboot it and take it back to basics. I look at how we can control this powerful tool and the road we need to take to get there, including regulation and reform. Chapter 9 discusses the overarching issues and principles that must be safeguarded as we go through the process of change. In particular, these include maintaining a culture of responsibility and ethics, ensuring appropriate governance, and renewing the focus on the long term. Chapter 10 looks at what is already underway, the silent and still nascent revolution in finance that needs to be encouraged and nurtured, which has already begun giving hope for the future.