1: Brave New World
“It is important for capital to be productively deployed. It cannot just be stashed under the mattress.”
“Personally I think Margaret Thatcher did wonders for the City of London. Big Bang broke up the old network of lazy individuals who had all been to school together.”
- Margaret Thatcher and Ronald Reagan unleashed huge amounts of human potential by reducing regulations and allowing market-based competition to regulate how business was done.
- Mathematicians and financial engineers entered the congenial world of banking and changed it dramatically. Powerful models based on simplifying assumptions became the tools of finance.
- Regulators and political leaders were outwardly ...