Wisdom of Finance

The finance industry is widely thought of as morally suspect. Even those who work in finance tend to compartmentalize between their personal lives and how they get ahead professionally. In that memorable lecture in 2015, Mihir Desai made the resounding case that this preconception is completely false, as well as detrimental not only to those who work in finance, but to the finance industry itself. In The Wisdom of Finance, Desai deftly sets out his unexpected thesis: that the central question of money is the same question that animates the philosophy of ethics: How do we pursue and create value? Desai argues there is in fact a deep connection between finance and morality. Some of the most fundamental teachings of philosophy, psychology, and religion are embedded in markets, finance, and business; to work in finance is to live and to breathe some of the most core moral principles. If finance professionals are able to grasp this connection, Desai shows they can find a way to experience their work as uplifting rather than dispiriting. One can even reform the way everyday business is done to reflect the core moral principles on which the finance industry is truly based. This game-changing philosophy - part call to action and part prescriptive advice - urges those just entering finance and those already enmeshed in the industry to entirely re-think their work in a way that will change their personal and professional lives for the better.