Gillian Tett on Complex Derivatives and the Fifth Stage of Capitalism
Episode publishedPodcast: Odd LotsOdd Lots
Transcript preview
Preview only
This is an iHeart podcast.
Bloomberg Audio Studios. Podcasts,
radio, news.
Hello, and welcome to another episode of the Odd Lots podcast. I'm Tracy Alloway.
And I'm Joe Weisenthal. Joe.
Yes. In the recent episode with Kaiser Kuo, you dropped at the very end, because you said you were hoping that no one was listening, You dropped that you are coming round to complex financial products.
You know, I I did drop a little bomb there at the very end of the episode because it's something I've been thinking about more and more. And I'll just lay it out very quickly what I think about, which is that one of the most influential episodes we've done in a long time in my mind was episode we did with, Ricardo Hausmann, who we either recently talked to or about to talk to depending on when this episode comes out, etcetera, about complexity is a good thing. That's a sign of when wealthy economies are capable of producing complex products. That's usually a sign they get wealthier. That's mos
for complex financial products. Yeah.
Because there was this other thing too, like, in, like, early two thousand tens where people were like, oh, all the great minds were working on, you know, building derivatives when they should have been doing something else. And then they went and built, like, social media and, like, products to, like, hack our attention to sell ads. Was that so much better? Anyway, I don't know. Like, maybe it's, like, time to rethink the positives of finance in the world. Great financial crisis. That was history. Let's remember the good at parts. Anyway, that's been that's it's just been on my mind lately. A
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.