2008 Financial Crisis: A Ten-Year Review

"Trust and the Future of Finance," Robert C. Merton, MIT


Nobel Laureate Robert C. Merton offers his perspective on how to rebuilt trust from the "2008 Financial Crisis: A Ten-Year Review" conference in November 2018. The financial crisis led to a loss of trust in providers, regulators, and financial innovation among consumers, Dr. Merton observes. Some have proposed technology can stand in for trust, but he says fintech cannot create trust or succeed without it. Two things, however, can substitute for trust: verification and transparency. Some forms of fintech can provide verification, but financial advice tends to be opaque rather than transparent. He goes on to speak about his scholarship in a Q&A with Harold James.

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