Many blame the financial sector for the current economic downturn, but in his new book “Finance and the Good Society”, Robert Shiller aims to change that way of thinking.

Following the 2008 global economic crisis, the financial industry came under fire. Complex financial instruments were blamed for causing the worst downturn in more than half a century.

But Mr. Schiller argues in his book, finance should be embraced rather than demonized and describes how finance through inventions like insurance, mortgages and pensions has historically benefited society. IMF’s Amy Held spoke to Robert Schiller about his new book “Finance and the Good Society”.

Duration: 4’03”

Source:  IMF