Finance And The Good Society Essay

757 Words Nov 5th, 2015 4 Pages
“Finance and the Good Society” Summary As Financial Planning students gearing up for a career in Financial Services, or further education to enter the world of Finance, it is interesting to see just how the majority of people view our intended career path. Rogues may appear, and many may link such words as greed, trickery, or recklessness with the financial industry, but as Robert J. Schiller points out in his book “Finance and the Good Society”, most of the financial sector is made up of good/intelligent people who are only trying to better our economy and advance society for the benefit of everyone, and not just the wealthy as a lot assume. We explore both the negative associations, but also the positive possibilities in the book, and it leaves us with a question of, “how can we contribute to the greater good for society in our future?”
Beginning with the negatives, Robert Schiller shows the various problems in certain positions that range from CEO’s down to regular folks who may not have a full grasp of just how finance can help society. Starting with a CEO, he addresses the issue that there may be some who work in companies that are “too big to be allowed to fail”, and how some are willing to take huge risks because they bank on the government bailing them out. Moving to Investment Manager, Bankers and Mortgage Lenders, he doesn’t shy away from pointing out how investment banks through history shifted into unregulated shadow banking which increases client risk. Further…

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