The book presents a bold manifesto urging readers to reconsider their relationship with money and the institutions that control it. It contrasts the mainstream financial discourse, dominated by technical jargon and exclusionary practices, with a more radical debate driven by activists and critical academics who question the foundational principles of neoliberalism and the role of financial intermediaries in perpetuating inequality and environmental destruction.

Author Brett Scott emphasizes the need to demystify the financial system. He argues that activists often lack the technical knowledge to effectively challenge the system, relying instead on indirect methods like media campaigns. By empowering activists with financial literacy, they can directly engage with and disrupt the status quo.

Scott advocates for a "heretical" approach, encouraging readers to adopt the Hacker Ethos. This mindset involves using creativity and rebellion to reimagine the financial system, viewing "hacks" as acts of creative rewiring rather than malicious disruption. He draws parallels between financial activism and other forms of hacking, such as urban free-running and slam poetry, to inspire new ways of engaging with finance.

"The Heretic's Guide to Global Finance" is a call to action for a more just and sustainable financial system. It challenges readers to rethink their assumptions, question the status quo and envision a new way forward. Whether you're an activist or simply curious about finance, the book inspires action towards a financial system that serves people and the planet.

Brett Scott's "The Heretic's Guide to Global Finance: Hacking the Future of Money" emerges as a bold and invigorating manifesto that challenges readers to rethink their relationship with money and the institutions that govern it. (Related: The great crypto power struggle: How technocrats and governments are reshaping global finance.)

Scott takes readers on a journey through the complex and often bewildering world of global finance. The book opens with a vivid depiction of the two major debates surrounding global finance. On one side, there is the mainstream discourse, dominated by politicians, pundits and think-tanks. This debate often revolves around technical issues such as capital requirements and central banking policies, which, while important, can feel exclusionary and alienating to the average person. On the other side, a more radical debate is taking place, driven by civil society groups, direct action organizations, student campaigners and critical academics. This debate questions the very foundations of neoliberalism and the role of financial intermediaries in perpetuating inequality, consumerism and environmental destruction.

Scott's sympathies lie with the radical debate. He views it as a powerful force for change, capable of addressing the power asymmetries that are deeply embedded in the financial system. However, he acknowledges a significant obstacle: the knowledge gap. Many activists lack the technical expertise to effectively engage with the financial system, leaving them reliant on indirect methods such as media campaigns and demonstrations. Scott argues that this gap can be bridged by demystifying the financial system and empowering activists with the knowledge they need to challenge the status quo.

To achieve this, Scott advocates for a heretical approach. He encourages readers to question the insider-outsider dichotomy that keeps them on the sidelines and to adopt the Hacker Ethos. This ethos is not about malicious disruption but rather about using creativity and rebellion to reimagine the financial system. A "hack," in this context, is an act of creative re-wiring, a way to use things in ways they were not originally intended.

Scott draws parallels between financial activism and other forms of hacking, such as urban free-running and slam poetry. He believes that by embracing this mindset, we can break down barriers and find new ways to engage with the financial system. This approach is exemplified by Scott's own experiences working in mainstream finance, including his time at a start-up derivatives brokerage during the 2008 financial crisis. These experiences provided him with a firsthand understanding of the system's inner workings and the people who drive it.

Throughout the book, Scott explores several key themes that are central to his heretical approach:

Financialization: Scott argues that the increasing dominance of financial intermediaries in various aspects of society leads to a disconnect from real economic activity and creates economic bubbles that inevitably burst.

Complexity and opacity: The financial system is often seen as overly complex and opaque, making it difficult for outsiders to understand. Scott suggests that this complexity is a form of protection for entrenched financial regimes.

Unethical investment: Many activists are concerned about the lack of accountability in the financial sector, particularly when it comes to environmental and social costs. Scott explores ways to disrupt investment flows into damaging projects.

The culture of finance: The financial sector is often criticized for its toxic culture, characterized by greed, arrogance and a lack of empathy. Scott challenges readers to look beyond stereotypes and understand the diverse motivations of financial professionals.

The power of exploration: Scott emphasizes the importance of exploration, encouraging readers to delve into the financial system with curiosity and an open mind. He advocates for using tools like anthropology and gonzo journalism to gain a deeper understanding.

Hacking the system: Scott proposes using the Hacker Ethos to subvert the financial system, finding creative ways to bend it to our will. He believes that by doing so, we can create positive hybrids that challenge mainstream assumptions.

Building alternatives: The book also explores the concept of building alternative models of finance, from decentralized crowdfunding to peer-to-peer finance and cooperative risk-sharing systems.

"The Heretic's Guide to Global Finance" is a manifesto for change. It is a call to action for anyone who believes that the financial system should serve the needs of people and the planet, not the other way around. Scott's heretical approach challenges readers to rethink their assumptions, question the status quo and imagine a new way forward. Whether you are a seasoned activist or simply curious about the world of finance, this book is a must-read. It will open your eyes to the possibilities of a more just and sustainable financial system and inspire you to take action.

Learn more about the book "The Heretic's Guide to Global Finance" by watching the video below.

This video is from the BrightLearn channel on Brighteon.com.

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