Quality india
Allow me to take a glance back at yesterday, and attempt a peak forward at tomorrow.
We stand near the finish line of the Twentieth Century, and the events that shaped its tapestry are still fresh in our memory. It was, in the opinion of many, the bloodiest in the history of mankind. Yet the 20th was also the century that showed remarkable promise. It rose from the ashes of the Holocaust and two World Wars, overcome the dual threats of fascism and communism, and by embracing the free market precepts of the likes of Thomas Jefferson, Adam Smith, and Milton Friedman, it fostered the winds of freedom which have swept over the vast majority of people on this planet.
It was the century within which the sciences of medicine, biochemics, and genetics combined to produce breakthroughs that eradicated deadly afflictions that have plagued mankind from the beginning of its species. It was the century in which incomprehensible advances in technology occurred. Where transportation advanced from the horse and buggy to the supersonic jet; where the the radio was transformed into a global cellular communications system; where the primitive flight at Kitty Hawk evolved into a trip to the moon. And it was it was the century in which financial derivatives were born.
There are those who might question the placing of derivatives among the great events of the Twentieth Century. And yet, the 1990 Nobel Laureate in Economics, Merton Miller, had the audacity to proclaim that the invention of financial futures ranked as "the most significant financial innovation of the last twenty years." And Alan Greenspan very recently unabashedly said:
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.....These instruments enhance the ability to differentiate risk and allocate it to those investors most able and willing to take it.....a process that has undoubtedly improved national productively
We stand near the finish line of the Twentieth Century, and the events that shaped its tapestry are still fresh in our memory. It was, in the opinion of many, the bloodiest in the history of mankind. Yet the 20th was also the century that showed remarkable promise. It rose from the ashes of the Holocaust and two World Wars, overcome the dual threats of fascism and communism, and by embracing the free market precepts of the likes of Thomas Jefferson, Adam Smith, and Milton Friedman, it fostered the winds of freedom which have swept over the vast majority of people on this planet.
It was the century within which the sciences of medicine, biochemics, and genetics combined to produce breakthroughs that eradicated deadly afflictions that have plagued mankind from the beginning of its species. It was the century in which incomprehensible advances in technology occurred. Where transportation advanced from the horse and buggy to the supersonic jet; where the the radio was transformed into a global cellular communications system; where the primitive flight at Kitty Hawk evolved into a trip to the moon. And it was it was the century in which financial derivatives were born.
There are those who might question the placing of derivatives among the great events of the Twentieth Century. And yet, the 1990 Nobel Laureate in Economics, Merton Miller, had the audacity to proclaim that the invention of financial futures ranked as "the most significant financial innovation of the last twenty years." And Alan Greenspan very recently unabashedly said:
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.....These instruments enhance the ability to differentiate risk and allocate it to those investors most able and willing to take it.....a process that has undoubtedly improved national productively