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October 16, 2013

Nobel Economics Prize Winner Says Inequality Is Most Important Issue in U.S. 
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A Yale University professor who won the Nobel Prize for Economics this
week has warned rising economic inequality is the most pressing issue
facing the United States. Robert Shiller, known for forecasting the
dangers of the dotcom and housing market bubbles, was one of three
Americans awarded the prize. He spoke on Monday.

Robert Shiller: "First of all it's not the financial crisis per se, but
the most important problem that we are facing now, today, I think, is
rising inequality in the United States and elsewhere in the world. This
is a problem that has solutions. Many of them are financial solutions.
Finance is substantially about risk management and if it's supplied
right, if it's democratized, that means if the real tools are made
useful to real people and not to just a minority of people, it can help
solve these problems."

 

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