On 13 December, Swedish Entrepreneurship Forum and KTH Royal Institute of Technology arranged a lecture with 2013 Prize in Economic Sciences in Memory of Alfred Nobel recipient Professor Robert J. Shiller, Yale University. Shiller recieved the Prize together with Professors Eugene F. Fama and Lars Peter Hansen for their empirical analysis of asset prices. The lecture was well-attended, around 500 students, researchers and other interested parties filled the auditorium.
At the KTH lecture, Shiller focused on his latest book Finance and the Good Society (2012), where he emphasizes the need for well-functioning financial markets and the importance of financial innovations. These innovations have been central for economic growth by channeling savings to investments, limiting risks for investors and entrepreneurs but also by reducing risks associated with lending. The book also features possible future financial innovations which could lessen risk exposure for both nations and individuals.
– We need a democratization of finance. It needs to extend to more people and deal with risks that people care about. It’s not just about banks, it’s about people.
Read more about Robert J. Shiller
See video of the lecture: