Finance Contributing to the Good Society

Robert Shiller

Business Economics, 2013, vol. 48, issue 1, 77-80

Abstract: Finance is not only a catalyst for transactions as measured by income and product accounts. It is also an enabler of a wider spectrum of human goals. How can it do this? Financial innovation and advances in behavioral psychology together with information technology make it possible to work on diverse goals of a good society, such as reduction of crime, facilitating small investor participation in entrepreneurial enterprises, and mobilizing resources for enterprises whose success is not defined by conventional bottom lines. This paper provides examples of the potential of creative finance to pursue much more diverse goals than is conventionally believed.

Date: 2013
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