At a time when the world is reeling under the spell of the worst ever economic crisis since the Great Depression of 1929, the financial domain has come in for some scathing and loathsome attack (much of it deserved) for the blatant ills promulgated and propagated by its practitioners in a shameless manner.
Robert Schiller, one of the most respected and prescient economists plying his wares today, offers, in this book a set of measures and means by which Finance can be restored to a pedestal of respectability and trust. By exhorting the concept of democratization of the whole spectrum of Finance, Schiller argues that the road to economic prosperity lies in the facets of transparency, innovation, comprehension and reciprocal trust.
Set out in two halves, the first part of the book deals with the indispensable roles and responsibilities of a whole gamut of market participants such as investment bankers, regulators, traders, financial engineers, insurers, lobbyists, lawyers, regulators, public goods financiers and the likes. The latter half of the book explores the discontent of Finance and measures to ameliorate if not obliterate such discontent. Employing a blend of common sense suggestions and radically innovative solutions, Schiller strives to rid Finance of its stigma with a view to make the interconnected economic world a better and more trustworthy place to live and transact.
“Finance and The Good Society” – A manual for resurrection of trust.