Thursday, March 8, 2012

Society Needs People Who Can Get Things Done And Rewards Them With Wealth

From Bloomberg, "Logic of Finance Can Banish Corruption (P. 4)" by Robert Shiller:
The economic power that some in the financial community attain bothers many people deeply. It offends our ideal of a society that aspires to respect, appreciate and support everyone. The pursuit of power that often drives financial capitalism seems contrary to the concept that finance should be about the stewardship of society’s assets.

Yet successful societies develop elites partly because they need leaders with the power to get things done. We have to make it possible for a relatively small number of people to use their personal judgment to direct our major activities. A system of financial capitalism will eventually imbue those in possession of such faculties with wealth and power. [Emphasis Added.]

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