People are fascinated with money. It doesn’t matter where you’re from or how much (or how little) you have, everyone is fascinated with money. Along with individual’s continuing interest in money, the idea of finance was born. Don M. Chance defines finance as the, “study of how money is acquired and invested” (Chance 447). This idea and then practice of financing money is a new concept which started after WWII, when people were faced with serious economic hardships.
People from all different backgrounds have taken part in creating financial equations and theories. Quickly, people began seeking out mathematicians as job advisors and experts. Physicists wanted to be a part of this new concept as well. They devised theories and equations such as the Gordon model, which determines the value of individual’s possessions.
Along with the evolution of the concept of finance, technology became a major contributor. No mathematician or physicist can beat the accuracy and efficiency of a computer. The Stock Market is one example of a financial institution which runs completely on technology. Now, professionals and lay people a like depend on the technology to provide them with accurate financial reports. It is obvious that money is important to all people, and thanks to the financial system and technology, people are able to have more financial decisions than ever.
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