Hello. After perusing through many discussions on this forum I have a general question regarding those who study finance and/or financial economics. Is it the case that financial economists, and financiers are more free-market (whether in academia, media, etc.) relative to general micro and macro economists?
More free market than the average English teacher? Probably. However, there are many people in finance who are Keynesians, so they favor statist interventions.
I knew that many would be interventionists. I just wonder if the average person in finance is less interventionist.
incidentally my little sister is a CPA and works for a large international accounting firm. She is also starting to play the entrepreneur roll on the side. She is constantly networking and making plans for new business opportunities. She has a new biz potentially starting up soon. She is borderline anarchist, likely without realizing it, with a strong dose of Randian individualism. I’m so proud of her! OK Thats all!
My experience at university leads me to believe no.
They tend to be for intervention and think that “pure capitalism” is somehow broken.
Never met anyone in finance, but the fact that the financial sector just recieved the biggest bailout in history I would guess that they are pretty much in bed with the state. It’s Socialism for the rich, Capitalism for the poor.
I believe so.
Ditto. At least it’s been my experience with my finance and economics professors. All but one of them is libertarian but they’re definitely rather market-oriented. I tend to think finance professors “get” markets better than most economics ones, though, as in they’re well aware of how financial markets foster efficiency and pay greater attention to the complexity of the structure of production.
It is definitely true. People with pro-market stance are more likely to choose that career, whereas those with anti-market stance avoid it and also slightly avoid patronizing its service.
From my own personal experience: they’re market-orientated, but they certainly don’t mind rent-seeking, regulatory capture and state privileges.