Towards a New Digital Enlightenment: The Financial Industry’s Role
The last decade has been a turbulent one. The financial crisis and uncertainty about the effects of globalization and the technological revolution have led to broad questioning of the global order of representative democracy and free markets. This article argues that to materialize the enormous potential growth and well-being for all offered by the technological revolution, and to dissipate the climate of discontent and pessimism, we need a New Enlightenment: a renewal of our philosophical and ethical bases, and of our political, economic, and legal architecture. This may be a long and complex process, but some steps can be taken immediately through economic and legal reforms. The digital transformation of the financial industry is one of the reforms capable of improving productivity and driving more inclusive growth.