Starring Terry Jones of Monty Python fame, Boom Bust Boom is a feature film looking at why financial crashes happen and what can be done to break the cycle. A combination of lighthearted humour and serious commentary, it combines Terry's unique comedy and Theo’s detailed expertise.
How did Boom Bust Boom come about?
The idea for the film began with the unlikely combination of Monty Python's Terry Jones, and Theo Kocken, Group CEO and founder of Cardano and Professor of Risk Management at the VU University in Amsterdam. Frustrated by the lack of information available to the public, they decided to write a documentary to explain the global economic system, and look at how things could change.
There have been a lot of documentaries about the 2008 economic collapse, so why do another? The frightening reality is that economic theories that are taught to students and most followed in the political and financial realms do not take into account the inevitability of crashes. This is in spite of the fact that the most cursory look at economic history shows a regular cycle of booms followed by busts.
The UK economy has been recovering at a relatively strong rate since early 2013, although problems in the Eurozone and other geopolitical issues continue to create uncertainties. Overall politicians are painting a buoyant picture, however we feel that this is the time that households, economists and politicians should be at their most fiscally alert to prevent another repeat of the financial habits that lead to economic busts.
How can this film make a difference?
We believe that current economics refuses to acknowledge real-world behavior of both people and markets. The aim of the makers of the film is to encourage universities, students and the establishment to broaden the learning scope to take into account irrational human nature and design legal and financial systems that can counteract individual behaviour in order to minimise the damage we can do to ourselves.
How is Cardano involved?
Cardano’s philosophy is based on the premise of robust risk management. One of our broader initiatives is through Cardano Insights whose aim is to fill in the financial knowledge gap. Cardano Insights will be providing informative platforms for a broad audience to help improve financial planning for children and adults. In all these ways, Cardano hopes to grow the understanding about responsible financial management. Only through education can our society improve its financial awareness