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The Darwinian Economy

The Reith Lectures

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New Banks With the Old Style

There is no question that the time horizon in the financial world has shortened to the point of being measurable in micro seconds, and that this is a dangerous thing. The more the oltimation proceeds, i e more fragile this complex system becomes,. Whether its high frequency trading or just the rampant short termaism of people who measure their results on a daily, if not hourly, basis. What can we do? There is actually an alternative model. I wrote a history of the rothschild bank, a bank that history stretches over 200 years. Private banking has been characterized by a radically different approach to capitalization and to time frame for centuries now. And one way of thinking about this is

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