

Young People With A Moral Purpose Should Work For Goldman Sachs, Not Google - refurb
http://www.businessinsider.com/nobel-robert-shiller-work-for-goldman-sachs-google-2013-10

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malandrew
I think he's forgetting this little thing called "fiduciary responsibility".
In almost all jobs in finance, you have a legal obligation to generate
externalities in the name of profit. You may learn how to make a different,
but unless you get rich enough to be investing your own money to make the
world better, you are often going to find yourself having to do things that
damage the commons for the sake of the individual.

That being said, I used to work in finance, and I agree that there is a _lot_
of value in spending 1-2 years there since it gives you a lot of operating
insight into the impact of finance in getting things done and that knowledge
is very useful if you find yourself on the other side of the table trying to
convince finance professional to do the right thing. They understand finance
and rarely understand how industries actually work, even though they think
they do and write lots of reports giving that impression. To make them
understand an industry or world problem, you need to put it in their
vocabulary.

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Bsharp
Wow, talk about Wadhwa throwing up a strawman there...

I think Shiller has a point, though. If young people are so appalled by what
Wall Street is doing, they should be the ones working for them and changing
things. Self-driving cars are cool, but what does the US need more - self-
driving cars, or a sound and ethical banking system?

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malandrew
You'll never get to position of having an ethical impact in banking if that is
your goal. The system is very good at preventing people with anything other
than a pure profit motive from rising above the rank of peon.

