Carl Herman

Harvard's Michael Jensen and innovative thinker Werner Erhard team for this paper : Putting integrity into finance: a purely positive approach Abstract : The seemingly never-ending scandals in the world of finance, accompanied by their damaging effects on value and human welfare, make a strong case for an addition to the current paradigm of financial economics. We summarize here our new theory of integrity that reveals integrity as a purely positive phenomenon with no normative aspects whatsoever. Adding integrity as a positive phenomenon to the paradigm of financial economics provides actionable access (rather than mere explanation with no access) to the source of the behavior that has resulted in those damaging effects on value and human welfare, thereby significantly reducing that behavior. More generally we argue that this addition to the paradigm of financial economics will create significant increases in economic efficiency, productivity, and aggregate human welfare. ...

I recently attended a public event with US military recruiters present. I walked by their display table wondering if any of them knew they recruit for lie-started and illegal Wars of Aggression . I made eye contact with one, who instantly responded with a friendly greeting. This is roughly the conversation after I answered that I’m a high school teacher. Recruiter: Hey, could I come to your classroom sometime to discuss military careers with your students? Carl: Ok, let’s talk. This is what I see and would include if you’d like to come to my class: the US wars are the opposite of legal, and from disclosed top-level documentation of our own government were started with “reasons” that were lies known to be lies as they were told. R: (suddenly still, and looking intensely straight into my eyes) May we talk about this outside? (pretends to look down, but actually looking at the feet of another recruiter in apparent check if he heard what I just said) C: Sure. (I walk...