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Restoring Trust in Finance?

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After the financial crisis, banks and regulators urge that trust in the financial system needs to be restored. This suggests a prior trust relation that has been damaged, and is worth restoring. The speakers try to make sense of these claims, and many others, as PhD students at the Faculty of Philosophy and part of the Cambridge-Groningen Trusting Banks project.

As philosophers, Jens and Marco ask what it would mean to trust a complex institution such as a bank, or even the financial system as a whole; what the role of trust in finance is and what it means to say that it has broken down. They also ask whether it is a good thing in the first place when citizens trust financial institutions. Is not rather distrust the appropriate attitude given the repeated misconduct and associated societal costs of these firms?

In answering these question they not only discuss philosophical theories of trust, but bring in perspectives from political philosophy, epistemology, and the history and philosophy of economics as well. The aim of the talk is to explain what it means to do philosophical research on finance, and what such research can contribute to broader political and social debates.

This talk is part of the Caius MCR/SCR research talks series.

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