> > in > > 1970, there was almost no trading in financial derivatives such as > > “futures.” By June of 2004, derivatives contracts totaling $273 > > trillion were outstanding worldwide. MacKenzie suggests that this > > growth could never have happened without the development of theories > > that gave derivatives legitimacy and explained their complexities.
This seems highly plausible. I wonder whether technology didn't also play an enabling role, in the form of cheap CPU cycles and powerful math modules? The perfect storm. -- -- Michael J. Smith [email protected] http://stopmebeforeivoteagain.org http://fakesprogress.blogspot.com http://cars-suck.org For my part, I abominate all honorable respectable toils, trials, and tribulations of every kind whatsoever. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
