How the Finance Industry Hurts the Economy

In perhaps the starkest illustration, economists from Harvard University and the University of Chicago wrote in a recent paper that every dollar a worker earns in a research field spills over to make the economy $5 better off. Every dollar a similar worker earns in finance comes with a drain, making the economy 60 cents worse off. [...] ...the growth of complex financial products has served primarily to boost income for the firms themselves, Philippon said. A new paper from researchers in t...

 The Origin of Interest

The international trading became the most profitable of all enterprises, and great land-"owners" with clear-cut king's "deeds" to their land went often to international gold moneylenders. The great land barons underwrote the building of enterprisers' ships with their cattle or other real wealth, the regenerative products of their lands, turned over to the lender as cccollateral. If the ship did come back, both the enterpriser and the bankers realized a great gain. The successful ship ventur...

 Learn Finances

Be you in what line of life you may, it will be amongst your misfortunes if you have not time properly to attend to [money management]; for. ... want of attention to pecuniary matters … has impeded the progress of science and of genius itself.

 GRUNCH

There is no dictionary word for an army of invisible giants, one thousand miles tall, with their arms interlinked, girding the planet Earth. Since there exists just such an invisible, abstract, legal-contrivance army of giants, we have invented the word GRUNCH as the group designation--"a grunch of giants." GR-UN-C-H, which stands for annual GROSS UNIVERSE CASH HEIST, pays annual dividends of over one trillion U.S. dollars. GRUNCH is engaged in the only-by-instrumentsreached-and-operated, en...