The debate about regulation of financial markets has been going on for decades and will continue especially during times of financial crises. Often, the push for regulation is fueled by people’s attitudes that the “insiders” of financial markets have access to unique information. This unique information allows “insiders” to take actions which lead to their own benefit, but may hurt society at large. In the article “Reflections on Finance and the Good Society,” Nobel laureate economist Robert J. Shiller states that “As long as we live in a Good Society that respects and encourages all people, we can tolerate the riches of some people, who have won in a game that most of us have chosen not to play.” In this week’s Discussion you will reflect upon and critique this statement. Consider the following: What is the proper definition of a “good society,” not only as defined in the article by Shiller? Is it true that financial power holders are able to “manipulate” financial markets, or is that a myth? How would you assess what is the proper level of regulation for the financial markets?