Lecture 12 Ethics and Markets (old)
[SQUEAKING] [RUSTLING] [CLICKING] JEAN TIROLE: OK. So today, we are going to cover a topic which is quite unusual for 14.271. Nonetheless, it's quite important. It's about the views of people about-- that people have about the morality of markets. [14.]271 is about antitrust mainly. And of course, antitrust is about market. And if people don't believe in markets, then that raises issues about what we are doing in the first place. Furthermore, there are lots of development nowadays-- actually, it's broader than antitrust-- about what independent agencies should be doing. So that has started with central banks. Their mission of enlarge is no longer just inflation targeting and financial stability, but it goes way beyond. And now everybody talks about green central banks. And there is a issue about whether fighting the climate change should be the responsibility of the central bank or it should be the responsibility of ministries. With antitrust, it's a l...