This lecture is a tour dhorizon of the financial crisis aimed at extracting lessons for future financial regulation. It combines normative recommendations based on conventional welfare economics with positive assessments of the kind of measures likely to be adopted based on political economy...

Regarding their Goal orientation people can be divided into those that strife to enhance their skills (learning goal orientation / LGO) and those that aim to demonstrate their advanced skills (performance-approach goal orientation / PApGO) or hide their inferior skills (performance-avoidance...