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There is still a house and ship being built at the end of it. Money and markets are just an abstraction of the physical work. Just like when i write in python -
by appleiigs 8y ago
There is still a house and ship being built at the end of it. Money and markets are just an abstraction of the physical work. Just like when i write in python - at the end, there is physical work being done in memory and cpu hardware. Money and markets allocate capital and no economist suggests otherwise.
- JetSpiegel 8y agoDerivatives, securities and other finacial "products" have no physical backing, they are purely abstract concepts. They don't even exist on paper now, just intangible bytes.
- appleiigs 8y agoDerivatives are derived from something... they have a notional, underlying, or delivery.