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Finance and the Good Society by Robert J. Shiller

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Part One

Roles and Responsibilities

An old saying holds that while the problem with socialism is socialism, the problem with capitalism is capitalists. Some of the headlines of the past decade—from the exploits of the executives of Enron and Satyam to those of the likes of Bernard Madoff—would seem to confirm that the problem with financial capitalism is indeed financial capitalists. But achievement of the good society is dependent on a healthy and robust financial sector—including the people who occupy the roles that enable the financial system to run, and thus help the economy to run. If finance is the science of goal architecture, those who work in the field are the architects who structure these goals and manage the risks of small businesses, ...

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