A Radical, Retro Proposal for Reforming Finance (based on the book A Call for Judgment) |

A Radical, Retro Proposal for Reforming Finance (based on the book A Call for Judgment)


­The prosperity of a modern economy requires the enterprise of innumerable individuals and businesses who exercise their imagination and judgment—and bear responsibility for outcomes. And widespread enterprise is fostered through dialogue and relationships, not merely prices in anonymous markets. Yet modern finance, particularly in the US., blatantly neglects these necessary elements for enterprise. In the last several decades finance has become increasingly centralized, distanced, and mechanistic. Instead of many lending officers making judgments about borrowers they know, credit decisions are the output of the models of a few wizards and credit agencies. ­This robotic centralized finance stifles the dynamism of the real economy and leads to recurring collapses.

Western academics and policy makers do not however appreciate the deep-seated pathology of modern finance, and their top-down reforms may actually make things worse. What we need is a radical simplification of banking rules that will restore case-by-case lending and case-by-case supervision.


Prof Amar Bhidé, ­Thomas Schmidheiny Professor, Fletcher School of Law and Diplomacy

Tuesday, 02 September 2014
12:15 p.m. - 1:30 p.m.

Seminar Room 3-4,
Manasseh Meyer,
Lee Kuan Yew School of Public Policy,
469C Bukit Timah Road,
Singapore 259772

Seats are limited and will be available on a first-come, first-served basis. Kindly register your interest in attending online.

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