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Vital Signs: swaps, options and other derivatives aren't just for the financial elite


One of the biggest trends in economics over the past 40 years has been so-called “financialisation” – whereby an increasing proportion of GDP in advanced economies comes from the financial sector.
This has involved the development of ever more sophisticated “financial instruments” such as swaps, options and other derivative securities.
The global mobility of financial capital has also given banks and hedge funds massive piles of money with which to make leveraged bets on everything from stock prices to the fourth derivative of the volatility of South American currencies which is (I kid you not) a contract on the rate of change on the rate of change on the rate of change in currency value. ....

United States , Myron Scholes , Felipe Iachan , David Scharfstein , Plamen Nenov , Robin Greenwood , Robert Merton , Bear Stearns , Lehman Brothers , Norwegian Business School , South American , Nobel Prize Winning , Long Term Capital Management , Alp Simsek , Global Financial Crisis , Stock Markets , Subprime Crisis , ஒன்றுபட்டது மாநிலங்களில் , மைரான் பள்ளிகள் , ராபின் கிரீன்வுட் , ராபர்ட் மெர்டன் , தாங்க ஸ்டேர்ன்ஸ் , லெஹ்மன் சகோதரர்கள் , நோர்வே வணிக பள்ளி , தெற்கு அமெரிக்கன் , நோபல் ப்ரைஸ் வென்றது ,