Chapter

An Interview with Paul Levy

Roger Berkowitz

in The Intellectual Origins of the Global Financial Crisis

Published by Fordham University Press

Published in print September 2012 | ISBN: 9780823249602
Published online January 2013 | e-ISBN: 9780823250752 | DOI: http://dx.doi.org/10.5422/fordham/9780823249602.003.0006
An Interview with Paul Levy

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Paul Levy, Founder and Managing Partner of JLL Partners asks “How do bubbles happen?” They do not generally happen because of malevolent or corrupt behavior. We live in a society where people generally do roughly good things. So why do they fall prey to bad behavior? Levy suggests that root it is a problem of poor and narrow training, that people who go into business aren’t particularly well trained and lack the liberal arts training that would give them the character and perspective to resist the temptations to do wrong.

Keywords: Winston Churchill; Liberal arts education; Financial bubbles; Proust; Great Recession; Warren Buffet; Subprime mortgages; Dodd-Frank Legislation; Goldman sachs; Alan Greenspan; Leveraged buyout industry; Rudyard Kipling's “If”

Chapter.  5063 words. 

Subjects: Social and Political Philosophy

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