Does Finance Benefit Society?
44 Pages Posted: 23 Jan 2015
Date Written: January 2015
Academics' view of the benefits of finance vastly exceeds societal perception. This dissonance is at least partly explained by an under-appreciation by academia of how, without proper rules, finance can easily degenerate into a rent-seeking activity. I outline what finance academics can do, from a research point of view and from an educational point of view, to promote good finance and minimize the bad.
Keywords: financial development, financial integration, rent seeking
JEL Classification: G00, O43
Suggested Citation: Suggested Citation