Finance and the Good Society
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Speaker(s): Professor Robert Shiller
Chair: Professor Steve Pischke
Recorded on 3 May 2012 in Old Theatre, Old Building.
The reputation of the financial industry could hardly be worse than it is today with the ongoing financial crisis. Robert Shiller is no apologist for the sins of finance--he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. However in his new book, he argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation--not less--and finance should play a larger role in helping society achieve its goals.
This event marks the publication of Professor Shiller's new book Finance and the Good Society.
Robert J. Shiller is the author of Irrational Exuberance and The Subprime Solution, and the coauthor, with George A. Akerlof, of Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism. He is the Arthur M. Okun Professor of Economics at Yale University.
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