Smart Money

Smart Money

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Palmer, Andrew Basic Books, 2015
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IN THIS SUMMARY

After the economic crisis of 2008 and the great recession that followed it, many people blamed the financial system. After all, without the securitization of sub-prime mortgages, the housing market bust would not have had nearly the global impact it did. Indeed, it was new financial instruments that allowed the problem to grow to the size it did. In Smart Money, Andrew Palmer argues that financial innovation can be a force for good, not evil. It can effect social change and enable people to better their lives. Technological advancements can also allow experts to use big data to make better decisions.