Societal problems like income inequality have emerged from a financial system that has taken a wrong turn, says Harvard finance professor Mihir Desai. “When finance goes awry, which I think it has, we all suffer. When finance is done well, it’s absolutely remarkable,” he says. Humanity needs to be re-infused into finance so that it’s led by personal stories rather than only value extraction. Desai, who wrote the book, The Wisdom of Finance: Discovering Humanity in the World of Risk and Return, sits down with John Dickerson, correspondent for CBS’ “60 Minutes.”
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