** Smart Money by Andrew Palmer


Smart Money: How High-Stakes Financial Innovation is Reshaping Our World—For the Better starts from the 2007-2008 financial crisis, but in a very different direction than other books: that of optimism that financial innovations are, in fact, good for us. The author starts with two interesting points: that money is a way to time-travel (think about it: save today to spend tomorrow — or vice-versa), and that secured lending (to buy a house, for instance) is dangerous since it does not consider the creditworthiness of the borrower.

He then proceeds to tell a long and interesting history of financial systems since antiquity, pointing out key inventions — and problems, too, so the book is not a Pollyanesque sham. It’s clear that, as in other fields, innovation will not come from the large-established players.

Advertisements

Leave a comment

Filed under Non fiction

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s