Finance Can Make History 2

"Finance Can Make History 2" explains how finance incubates new technologies, shapes the global power structure, and shapes economic development models, and further sorts out how people should view financial innovation. After the geographical discovery, capital quickly developed Eastern resources through the East India Company; when Watt improved the steam engine, he mainly relied on entrepreneurs' funds to maintain it; Edison also relied on the capital market to expand his business... Capital has become the blood of the economic system, and financial institutions are responsible for the lifeblood of hematopoiesis and blood distribution. From a global perspective, a developed financial system and strong capital export capabilities have become the core pillars of building hegemony. This is true for the British Empire, which never sets, and the United States, which considers itself the world's policeman. When a force is too important, its negative effects will be amplified. Because any disturbance in the financial field may affect the entire economic system, "regulation" has become the moral high ground in the field of public opinion. Financial innovation means risk, and therefore becomes a "wealth magic" that does not produce any value. However, the demonization of financial innovation will suffocate the activity of finance itself, thereby hindering the ability of finance to adapt to the new era, which will undoubtedly cause lasting harm to the future economy.