Technology and Invention in Finance - Risk Management and Financial Innovation

Explore the intricate relationship between technology, innovation, and finance in this 75-minute lecture from Yale University's Financial Markets course. Delve into the history of risk management, examining how inventions like insurance contracts, social security, and information technology have shaped financial systems. Investigate the challenges of long-term risk management, including risk-pooling and moral hazard. Analyze inequality and communism from a risk perspective, and understand how framing influences consumer perception. Discover the development of insurance and other lesser-known financial inventions. Trace the evolution of information technology from paper machines to modern computers, and its impact on postal services and social security. Gain valuable insights into how technological advancements continue to drive financial innovation and risk management strategies.

- Chapter 1. Introduction
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- Chapter 2. Introduction to the History of Risk Management
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- Chapter 3. Long-Term Risk, Risk-Pooling, and Moral Hazard
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- Chapter 4. Inequality and Communism from the View of Risk
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- Chapter 5. Framing: Its Influence on Consumer Perception
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- Chapter 6. The Development of Insurance and other Unobvious Financial Inventions
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- Chapter 7. From the Paper Machine to the Present: Information Technology and Its Impact on Postal Service and Social Security
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