Does Finance Benefit Society?
45 Pages Posted: 27 Mar 2015
Date Written: January 1, 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, 043
Suggested Citation: Suggested Citation