Does Finance Benefit Society?

No 20894, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: G00 O43 (search for similar items in EconPapers)
Date: 2015-01
New Economics Papers: this item is included in nep-hpe and nep-pke
Note: CF
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Citations: View citations in EconPapers (145)

Published as ZINGALES, L. (2015), Presidential Address: Does Finance Benefit Society?. The Journal of Finance, 70: 1327-1363. doi:10.1111/jofi.12295

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