Podcast: Robert Shiller on "Finance and the Good Society"
In his new book “Finance and the Good Society,” Yale economist and best-selling author Robert Shiller argues that financial capitalism is the best system the world has ever known for democratizing wealth. He also concedes in the book, which will be published by Princeton University Press next month, that the system has serious flaws. Before Greg Smith blew the whistle on Goldman Sachs in the New York Times, Shiller had specifically addressed the issue of financial industry malfeasance in a chapter of his book titled, “Some Unfortunate Incentives to Sleaziness Inherent in Finance.”
While the world was still reeling from Smith’s allegations of greed and corruption at the Wall Street firm, and on the eve of his book extolling the virtues of finance, we decided to ask the author: “how can something as inherently sleazy as finance do society any good?”
He responds in this podcast.