Saturday, December 31, 2011

Finance and insurance are 8.4% of our GDP

Why financial crises are correlated with an increasingly clueless plutocracy...
"There are two sustainable ways to make money in finance: find people with risks that need to be carried and match them with people with unused risk-bearing capacity, or find people with such risks and match them with people who are clueless but who have money." - J. Bradford DeLong

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