Four decades-worth of extraordinary financial innovation were, until recently, regarded as cause for congratulation among Anglophone policymakers and bankers. The events of the past two years have put an end to that. Among those now highlighting the dangers of financial innovation is Lord Turner, head of Britain's Financial Services Authority. As well as stirring up controversy over the bloated size of the financial sector in the latest issue of Prospect magazine, he argued that much financial innovation was socially useless. Is it time, then, for regulators to incorporate a bias against such activity?
直到不久前，40載超常規(guī)的金融創(chuàng)新一直被視為西方?jīng)Q策者和銀行家額手相慶的理由。而過去兩年發(fā)生的事情，給這一切結(jié)束劃上了句號(hào)。目前一些人在強(qiáng)調(diào)金融創(chuàng)新的風(fēng)險(xiǎn)，英國(guó)金融服務(wù)管理局(FSA)主席特納勛爵(Lord Turner)就是其中之一。在最新一期《展望》(Prospect)雜志上，他掀起了關(guān)于金融業(yè)規(guī)模擴(kuò)大的論戰(zhàn)。他辯稱，大量金融創(chuàng)新都對(duì)社會(huì)無益。那么，監(jiān)管機(jī)構(gòu)目前應(yīng)該此類活動(dòng)抱有偏見嗎？