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When were markets run by PHDs and Nobel laurates? They were always run by politicians, oligarchs, capitalists and interest groups.
by rvba 2y ago
When were markets run by PHDs and Nobel laurates?
They were always run by politicians, oligarchs, capitalists and interest groups.
- paganel 2y agoLong-Term Capital Management [1] was run by PHDs and Nobel laureates. And as far I understood you basically need to be at least at the PhD level in order to be a quaint on Wall Street, and for better or for worse Wall Street runs West's very financialized economy, it's not the politicians (see for example how a recent British prime-minister who had to back up and then quickly resign when her decisions were not viewed under a good light by said financial markets) [1] https://en.wikipedia.org/wiki/Long-Term_Capital_Management https://en.wikipedia.org/wiki/Long-Term_Capital_Management