Mihir Desai professor at Harvard Business School discusses how the world of finance has become broken and corrupted by indifference and greed.
In this clip he argues that while general dislike and animosity towards finance is mostly justified, financial services and investment are industries we cannot live without.
Whether it be saving to go to college, grow businesses or the ability to purchase home finance is central to helping manage society. According to Desai, energy must be directed towards fixing the industry so that it is focused on value creation for people rather than value extraction for bankers.
This is an interesting discussion and poses some difficult questions as to the capacity to change the global neoliberal system in which the worlds 8 richest people have as much wealth as half the worlds population