Wednesday, April 6, 2016

What makes Finance different... (and Modular)...

The issue at the heart of all the explanations of boom-bust cycles just described is the unpredictability of the future. This is what makes finance different - and more unstable - than other economic activities. The primary purpose of any financial system is to link decisions made today with events many years or even decades ahead. Savers, investors, and businesses must resolve here and now how much to save

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