Robert Shiller argues that financial markets are a force for good. But is he blind to their current failings?by Martin Wolf / May 24, 2012 / Leave a comment
Nowadays a book with the title “Finance and the good society” is likely to appear, at best, a contradiction in terms and, at worst, a sick joke. It is a measure of Robert Shiller’s intellectual courage, or perhaps his foolhardiness, that this understandable hostility to finance did not daunt him. He believes strongly that finance makes an essential contribution to the good society.
This latest book from Shiller is a thought-provoking, lucid, wide-ranging and largely convincing explanation of why this is so. Shiller falls into the category of idealistic, yet practical, reformers on whom so much of human progress has depended. This book demonstrates these qualities perfectly.