sábado, 7 de abril de 2012

Finanzas: Anti o Pro Sociales!!! Para Psicópatas?

Después de la reciente crisis financiera, el sistema financiero y las finanzas se han convertido en el villano favorito. Pero este es un tema que se ha estudiado desde hace tiempo. Entender el comportamiento de los que participan en la bolsa, por ejemplo. Aquí les comparto dos artículos que giran sobre este tema
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El primero es un artículo en la línea de la Economía del Comportamiento y que se titula
How Investing Turns Nice People Into Psychopaths
The problem with the homo economicus theory is that the purely rational, purely selfish person is a functional psychopath. If Economic Man cares nothing for ethics or others' welfare, he will lie, cheat, steal, even murder, whenever it serves his material interests. Not surprisingly, although homo economicus is alive and well in many economics departments, many experts today prefer to embrace behavioral economics, which relies on data from experiments to see how real people really behave. Behavioral economics confirms something both important and reassuring. Most of us are not conscienceless psychopaths
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The ideology of shareholder value drives corporate managers to make business decisions contrary to prosocial shareholders' true interests. Of course, some shareholders may indeed be purely self-interested actors--psychopaths--who don't mind if their companies deceive consumers, maim employees, or pollute the environment. But the hard evidence indicates the vast majority of us would prefer to tolerate at least somewhat diminished returns to avoid such results. And most studies find that SRI investing erodes investors' returns only slightly, if at all. Shareholder psychopathy is neither natural nor inevitable but an artifact, the unfortunate outcome of collective action obstacles combined with the ideology of shareholder value.
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El segundo es un editorial de Shiller en donde argumenta sobre la necesidad de democratizar las finanzas, tema que ha venido discutiendo desde hace tiempo y es tema central de su próximo libro que está por salir a la venta
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Democratize Wall Street, for Social Good

Finance is substantially about controlling risk. If risk management is suitably democratized, and if its sophisticated tools are better dispersed throughout society, it could help reduce social inequality. Future financial innovation, for example, could deal with the problem of rigid entitlementslike Social Security or health benefitsthat are making our national debt problems so difficult.