The last quarter century of financial capitalism has brought enormous economic and social progress to humanity. Yet the value of this system has been questioned in light of the current profound financial crisis. Professor Shleifer will review the last quarter century of economic development, as well as the causes and consequences of the crisis. 

The lecture aims to discuss the future of capitalism, and in particular of the relationship between the market and the state, asking whether the benefits of financial capitalism can be preserved while mitigating its instability.

Introduction by Guido Tabellini, Bocconi University