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ECON 252: Financial Markets
Lecture 3 - Technology and Invention in Finance
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Overview:
Technology and innovation underlie finance. In order to manage risks successfully, particularly long-term, we
must pool large amounts of risk among many, diverse people and overcome barriers such as moral hazard and
erroneous framing. Inventions such as insurance contracts and social security, and information technology all
the way from such simple things as paper, and the postal service to modern computers have helped to manage
risks and to encourage financial systems to address issues pertaining to risk. The tax and welfare system is
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- Spring '08
- RobertShiller
- Finance, Economics, Open Yale Courses
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