About this source
Philip Roscoe, Professor of Management at the University of St Andrews and author of How to Build a Stock Exchange, critiques passive investing and the broader financialised system from a sociological lens — examining capital allocation, governance, market structure, and the hidden social costs of indexing.
Frameworks extracted
6 totalFINongoing
The Theater of Finance
Finance depends on performance and narrative — remove the theater and the market ceases to exist
FINongoing
Skin-in-the-Game Market Architecture
Partnership structures align risk with decision-making; corporate structures dissociate them
FINongoing
Capital Extraction vs Capital Formation
Finance rarely builds — it mostly finds clever ways to move wealth from one pocket to another
FINongoing
The Passive Ownership Trap
Index investing optimises returns while surrendering the governance power that could fix the system
FINongoing
The Volatility Distortion Effect
Short-run risk metrics force long-horizon institutions to act like day traders
FINongoing
Finance as Social Technology
Markets are human constructs, not laws of physics — and can be redesigned