That’s right, a gift. Forget about unemployment, bank failures, destroyed savings and national uncertainty, this financial crisis should be viewed as a great opportunity to “humanize the financial services industry.” So said Cornell Anthropology Professor Hirokazu Miyazaki at a Yale seminar last week:
Financial logic can be applied and connected to the entire world, Miyazaki said, adding that the 2007 financial crisis confirmed that conclusion. It also gives the world a reason to make the financial services industry more humanistic and realistic, he said.
Derivative trading is a specific branch of the economy dealing with “an agreement between two people or parties that has a value determined by the price of something else,” he said.
Miyazaki said finance, especially derivatives trading, has ties to the occult, hypnosis and predictions, partially due to the fact that derivatives trading is such an abstract and intangible activity, he said.
So much for economists missing the boat on the 2008 financial crisis.
