Dr. Michael T. Tucker, professor of Finance at Fairfield University's Dolan School of Business, offers his perspective on the Occupy Wall Street movement
(Posted on October 13, 2011)
"There are legitimate grievances. Our economic system was built on the idea that investors could provide funding for businesses and in turn receive a risk-adjusted rate of return. As the financial system expanded that concept was lost and the financial firms became the tail that wags the dog. Added to that, financial firms created increasingly complex financial instruments that were difficult to value but provided profits to the firms themselves. 'The Great Stagnation' (a short and concise book) sums it up well, financial innovation concentrated wealth (private goods) instead of public goods."
Dr. Tucker's research interests include microfinance, the financial implications of remediating climate change, optimal retirement strategies, alternative energy and case writing. His teaching is focused on the application of financial theory in practical applications using Excel, cases, simulations and interactive experiences. He is director of the Dolan School's state-of-the-art Business Education Simulation and Trading (BEST) classroom, co-director of the Center for Microfinance Advising and Consulting (CMAC), chair of the Dolan School of Business Continuous Improvement Assessment Committee (CIAC), and advisor to the Fairfield Investment Group managing a portfolio of invested capital.
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Vol. 44, No. 73