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Robert D. Manning (born 1957) is a former financial advisor in consumer credit and financial services. Up until 2008, Manning was a professor of finance at Rochester Institute of Technology's E. Philip Saunders College of Business. [1]
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Robert D. Manning (born 1957) is a former financial advisor in consumer credit and financial services. Up until 2008, Manning was a professor of finance at Rochester Institute of Technology's E. Philip Saunders College of Business. [1]
Manning has a BA from Duke University, a master's degree from Northern Illinois University, Economic History and Latin American Studies (1981) and a Ph.D. from The Johns Hopkins University, Program in Comparative International Development (1989).
He also specializes in U.S. and global banking deregulation, consumer debt, macro-economic trends in consumer economy, and U.S. labor market trends. He is also an authority on U.S. social inequality, Mexican economic development, immigration to the U.S., small business entrepreneurship, urban development issues, race and ethnic relations, and higher education financing.
Manning has been interviewed on the topic of consumer debt on CNN’s In the Money, NPR’s To the Point, CBS Evening News and Money Magazine — as well as making guest appearances on The Al Franken Show . Manning is the author of Credit Card Nation, [2] and a recent in-depth study, “Living With Debt” sponsored by LendingTree.com, and is featured in Danny Schechter’s documentary, “In Debt We Trust”, which was released in summer 2006.
Manning is a fellow at the Filene Research Institute.
In June 2020 Manning filed for Bankruptcy in the Western District of New York.
The United States is a highly developed/advanced mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world's sixth highest per capita GDP (nominal) and the eighth highest per capita GDP (PPP) as of 2024. The U.S. accounted for 26% of the global economy in 2023 in nominal terms, and about 15.5% in PPP terms. The U.S. dollar is the currency of record most used in international transactions and is the world's reserve currency, backed by a large U.S. treasuries market, its role as the reference standard for the petrodollar system, and its linked eurodollar. Several countries use it as their official currency and in others it is the de facto currency. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology.
Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor. Debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity.
Microfinance is a of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources in a controlled manner, taking into account various financial risks and future life events.
Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.
Credit card debt results when a client of a credit card company purchases an item or service through the card system. Debt grows through the accrual of interest and penalties when the consumer fails to repay the company for the money they have spent.
Michael Jay Boskin is the T. M. Friedman Professor of Economics and senior fellow at Stanford University's Hoover Institution. He also is chief executive officer and president of Boskin & Co., an economic consulting company.
College tuition in the United States is the cost of higher education collected by educational institutions in the United States, and paid by individuals. It does not include the tuition covered through general taxes or from other government funds, or that which is paid from university endowment funds or gifts. Tuition for college has increased as the value, quality, and quantity of education have increased. Many feel that increases in cost have not been accompanied by increases in quality, and that administrative costs are excessive. The value of a college education has become a topic of national debate in the U.S.
Hyman Philip Minsky was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College. His research attempted to provide an understanding and explanation of the characteristics of financial crises, which he attributed to swings in a potentially fragile financial system. Minsky is sometimes described as a post-Keynesian economist because, in the Keynesian tradition, he supported some government intervention in financial markets, opposed some of the financial deregulation of the 1980s, stressed the importance of the Federal Reserve as a lender of last resort and argued against the over-accumulation of private debt in the financial markets.
Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge. Financially sophisticated individuals are good at financial calculations; for example they understand compound interest, which helps them to engage in low-credit borrowing. Most of the time, unsophisticated individuals pay high costs for their debt borrowing.
Edward Albert Filene was an American businessman and philanthropist. He is best known for building the Filene's department store chain and for his decisive role in pioneering credit unions across the United States.
Thomas Henry Greco Jr. is a community economist, who writes and consults on monetary exchange alternatives, including private credit clearing systems, complementary currencies and local currencies.
Saunders College of Business is one of eleven colleges at Rochester Institute of Technology and is accredited by the Association to Advance Collegiate Schools of Business International (AACSB). As of fall semester 2018, Saunders College of Business encompasses nearly 11% of RIT's enrollment, home to more than 2,000 undergraduate and graduate students enrolled in programs across RIT Global Campuses in Rochester, New York, Croatia, Dubai, Kosovo, and China.
The Filene Research Institute is an American credit union and consumer finance think tank headquartered in Madison, Wisconsin.
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. He is a contributor to The Hudson Report, a weekly economic and financial news podcast produced by Left Out.
Robert Eric Wright is a business, economic, financial, and monetary historian and the inaugural Rudy and Marilyn Nef Family Chair of Political Economy at Augustana University in Sioux Falls, South Dakota. He is also a research economist at the National Bureau of Economic Research.
William M. Maurer is an American academic scholar of legal and economic anthropology. He currently serves as the dean of the School of Social Sciences at the University of California, Irvine. He has conducted research on money, finance, economy, and law, including the off-shore financial services industry in the Caribbean, alternative currencies, Islamic finance, mobile money, and traditional and emerging payment technologies, as well as cryptocurrencies like Bitcoin and related blockchain technologies. He has been called the “doyen” of the subfield of the anthropology of finance. Maurer is also the founding director of the Institute for Money Technology and Financial Inclusion, a research institute at UC Irvine funded by the Bill & Melinda Gates Foundation, and a fellow of the Filene Research Institute. He was previously the founding co-director of the Intel Science and Technology Center in Social Computing, also at UCI.
The Julis-Rabinowitz Center for Public Policy and Finance (JRC) is a leading research center at the Princeton School of Public and International Affairs (SPIA) of Princeton University. Founded in 2011, the JRC primarily promotes research on public policy as it relates to financial markets and macroeconomics. The center has also expanded its research and teaching to multiple disciplines, including economics, operations research, political science, history, and ethics.
Credit scoring systems in the United States have garnered considerable criticism from various media outlets, consumer law organizations, government officials, debtors unions, and academics. Racial bias, discrimination against prospective employees, discrimination against medical and student debt holders, poor risk predictability, manipulation of credit scoring algorithms, inaccurate reports, and overall immorality are some of the concerns raised regarding the system. Danielle Citron and Frank Pasquale list three major flaws in the current credit-scoring system:
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