Robert J Shiller: Finance and the Good Society - Liveblog & webcast
Thursday March 29, 2012
Replay the liveblog and webcast from a special World Bank event as author Robert J. Shiller discussed his new book, "Finance and the Good Society",
Can society once again harness the power of finance for greater good, especially given the current dismal reputation of the financial industry? Instead of condemning it, the author argues that society should recognize that finance is one of the most powerful tools we have for solving our common problems. We need more financial innovation, not less, and must build upon the welfare-enhancing historical inventions of insurance, mortgages, savings accounts, and pensions for everyone’s benefit.
Mr. Shiller is the Arthur M. Okun Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management. His repeat-sales home price indices, developed originally with Karl E. Case, are now published as the Standard & Poor’s/Case Shiller Home Price Indices. The Chicago Mercantile Exchange now maintains futures markets based on these indices. He served as Vice President of the American Economic Association, 2005 and President of the Eastern Economic Association, 2007. He writes a regular column "Finance in the 21st Century" for Project Syndicate, which publishes around the world, and "Economic View" for The New York Times, and is ranked among the world’s 100 most influential economists.
Mr. Shiller has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets. He is the author of Irrational Exuberance and The Subprime Solution, and the coauthor, with George A. Akerlof, of Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (all Princeton).
Gavin E.R. Wilson | Chief Executive Officer, IFC Asset Management Company
Brian Pinto | Senior Adviser, Poverty Reduction and Economic Management, World Bank
John Anderson | Private Sector Development Specialist
Replay the liveblog and webcast below.