Money was one arguably the most important invention for development to take place. Money has been independently invented at one time or another in each important civilization in the history of the...

From time to time, bubbles form in the speculative markets. The tulip bulb bubble, the French Law scheme and of course the US stock market crash of 1929 springs to mind. As of this writing, we...

Before the First World War, there was a so-called “gold standard”, ie Gold has all the features of money, and paper money in fact was his representatives and freely exchanged for gold, according...

Are financial markets fractals? Financial markets are often modelled with a series of small normally distributed (Gaussian) changes. Such a model has great theoretical appeal and is the core of other...

The most common way to estimate the value of options is to use the Black-Scholes formula. If the price changes of security are log-normally distributed, the Black-Scholes formula provides the...

The rise of oil production (and oil consumption) has coincided with the industrial revolution. Some go as far as attributing our rapid growth in the last century to easily accessible and cheap...