Smart Money draws upon centuries of economic history and shows that the threats to financial stability come not from financial innovation but from established markets.
Explaining that financial innovation has played an important role in stimulating prosperity throughout history, Palmer outlined how new developments, such as peer-to-peer lending, securitised financing of medical research and catastrophe bonds, are helping to tackle some of today’s most intractable problems. While finance has always been guilty of excess, Palmer’s message was that the growing partnership between finance and technology showed how high-stakes finance, and capitalism, can be a force for good.
About the Speaker
Andrew Palmer is The Economist's Business Affairs Editor, overseeing the coverage of business, finance and science. He was formerly Finance Editor (from 2009) and Banking Correspondent (2007-09), having joined The Economist as Management Correspondent in February 2007. Prior to this, from 2006 he was at the Economist Intelligence Unit, a sister company, where, among other roles, he led the editorial team conducting bespoke research programmes, surveys and reports. He has a master's degree in international relations from the London School of Economics and lives in London.