The question came up near the end of the documentary “Inside Job”. I don’t want to talk about the faults of the documentary itself in this thread (although I think there are a few), instead I want to focus simply on the question in the thread title.
For those who don’t know, in the documentary the question is raised in an interview with a Harvard professor of economics who wrote a paper about how an unregulated Wall Street was economically sound (you’ll forgive me the exact details, but it’s not really important in this discussion because I’m not talking about a single case, but more in general). The professor in question was paid about 150,000 USD by a US corporate and investment banking firm for writing this paper. Nowhere in the paper is it stated that he was paid to write it - it seems to be more of an academic paper than anything else. Yet I assume (big assumption here, I admit) that it has some influence over public policy within the government or at least with investors.
What do you think?