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Robert Shiller Lecture - Finance and the Good Society
Posted by: CanadianValue (IP Logged)
Date: December 9, 2012 11:28AM
Robert Shiller gives a lecture on the topic of his more recent book Finance and the Good Society.
"Mr. Shiller argues convincingly that the good society requires an effective financial sector, and the way to extend the good life to more people is not to shrink the sector nor 'restrain financial innovation but instead to release it.' That does not mean that fraudsters and others who broke the law during the bubble years should go unpunished, of course, and Mr Shiller rightly calls for financial innovation to take place in a 'way that supports the stewardship of society's assets,' a philosophical underpinning that Wall Street's financial innovators seem to have been steadily forgetting since the 1980s.'
For those too cheap to buy, or too lazy too read the book.....here is the Shiller lecture.
Re Robert Shiller Lecture - Finance and the Good Society
Posted by: Patience Investing, Inc. (IP Logged)
Date: December 9, 2012 10:13PM
My understanding and opinion is that financial innovations did more harms than any benefits. I wonder what would be Prof. Shiller's response to high frequency trading (HFD) or collateralized debt obligations (CDOs).