BrightLearn - The Heretic's Guide to Global Finance: Hacking the Future of Money by Brett Scott

In "The Heretic's Guide to Global Finance: Hacking the Future of Money," Brett Scott embarks on a provocative exploration of the global financial system, urging readers to reconsider their relationship with money and the powerful institutions that govern it. The book is divided into two main debates: the mainstream discourse, which focuses on technical aspects like capital requirements and central banking policies, and a more radical, grassroots conversation led by activists, civil society groups and critical academics who challenge the foundations of neoliberalism and the dominance of financial intermediaries. Scott, who favors the radical perspective, highlights the power asymmetries and the challenges activists face in accessing and influencing the financial system due to underfunding and a lack of technical expertise. He identifies the knowledge deficit as a significant barrier, making the system appear as an indecipherable machine to outsiders, a complexity often exploited by conservative media to dismiss activists as idealistic. To bridge this gap, Scott advocates for a "heretical approach," encouraging curiosity, creativity and rebellion to reimagine the financial system. He introduces the "Hacker Ethos," not as malicious disruption, but as a means to creatively rewire and subvert the system, drawing parallels between financial activism and other forms of hacking, such as urban free-running and slam poetry. Scott shares his experiences in mainstream finance, including the 2008 financial crisis, to provide insights into the system's inner workings. The book explores themes such as financialization, complexity, unethical investment and the culture of finance, while also proposing alternative models like decentralized crowdfunding and cooperative risk-sharing. Ultimately, "The Heretic's Guide to Global Finance" is a call to action, challenging readers to envision and work towards a more just and sustainable financial system that prioritizes people and the planet over profit.

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