Title: A Manifesto for Giant Funds - Resolving the Dysfunctionality of Finance
Date: 25th May 2010
Time: 6.30-8pm
Venue: Old Theatre, London School of Economics
Speaker: Dr. Paul Woolley
Chair: Professor David Webb
Three years ago, Paul Woolley founded centres for the study of Capital Market Dysfunctionality at LSE and Toulouse University. The centres are offering an understanding of the way finance works that challenges received wisdom and is already proving influential in academic and policy circles.
The research identifies the principal/agent problem as the reason why finance has grown so dominant, profitable and prone to crisis. Paul Woolley proposes a solution that calls for the giant pension and charitable funds around the world to exercise more effectively their role as custodians of social wealth. He has come up with a manifesto of the policies they should adopt to ensure that banking and finance becomes a better servant to society.
Dr Woolley is a former banker, fund manager, IMF economist and academic, now leading the study of dysfunctional finance at LSE.
