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They had running water and other complex infrastructure in ancient Rome well before derivatives were invented I really doubt we'd be living in a barren wastelan
by pmorici 13y ago
They had running water and other complex infrastructure in ancient Rome well before derivatives were invented I really doubt we'd be living in a barren wasteland w/o them.
There would certainly be an impact if all that stuff went away but it wouldn't be because of it's absence it would be because of the pain of unwinding it all.
- Tycho 13y agoNot to nitpick, but I think they had derivatives before that.
- wavefunction 13y agoAsset derivatives before running water? Do you have a citation?
- Tycho 13y agoOptions in ancient Greece http://en.wikipedia.org/wiki/Thales#Business http://en.wikipedia.org/wiki/Thales#Business Forward contracts in Sumer http://www.realmarkits.com/derivatives/3.0history.php http://www.realmarkits.com/derivatives/3.0history.php
- pmorici 13y agoNot in the sense we are talking about them as they relate to financial markets. From what I've read they came about in the 1600's with the rise of the famous tulip bulb bubble. http://husky1.stmarys.ca/~gye/derivativeshistory.pdf http://husky1.stmarys.ca/~gye/derivativeshistory.pdf