Tuesday, May 5, 2009

Money, money, money, and the financial markets

This readable and meaningful book review of The Origins of Value: The Financial Innovations that Created Modern Capital Markets (edited by William M. Goetzmann and K. Geert Rouwenhorst, Oxford University Press, 2005), written by Stephen Fidler for the Financial Times, may shed some light on money and its usage. Loans bets and trades, or bonds stocks/options and commerce.

A globe-trotting history of modern finance
By Stephen Fidler

Published: December 27 2005. © The Financial Times Limited 2009

Loans, bets and trades. These three words, more or less, encapsulate all transactions in the world's financial markets. Raw computing power in the past 20 years has pushed modern finance to levels of sophistication that make it hard for laymen to grasp. But understand these building blocks and you understand, at root, what financial markets are about.

Read the article here.

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