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Faith in finance

Robert Shiller argues that financial markets are a force for good. But is he blind to their current failings?

By Martin Wolf  
















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…

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