Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Innovation by Default

Innovation by Default

Ratings: (0)|Views: 178 |Likes:
Published by Andrey V. Semenov
Andrey V. Semenov , Golden Rule ,finance , money , human behaviour law , fear , greed , innovation
Andrey V. Semenov , Golden Rule ,finance , money , human behaviour law , fear , greed , innovation

More info:

Published by: Andrey V. Semenov on Mar 14, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

04/09/2014

pdf

text

original

 
Andrey V
.
Semenov
 
Innovation by default
LUBIN 2010PACE
 
 1.
 
Should treat othersaccording to how one wouldlike others to treat one'sself (positive, passiveform)
2.
 
Treat others as you wouldlike to be treated(positive, active form)
3.
 
One should
not
treatothers in ways one would
not
like to be treated(prohibitive, passiveform)
4.
 
Do not treat others inways you would not like tobe treated (prohibitive,active form. Also calledtheSilver Rule)
……………
 {
In my paper I would like to give broad view on technological innovation and its role in financialarchitecture for XXI century. But first thing first:
Let’s
start from the simple question
:” How
 technological innovation has influenced finance in recent
years? “In
my mind answer to thatquestion is
simple and complex
at the same time.
Simple,
because, as I believe, technological innovation cannot change the human nature ,
Nomatter how far humanity develops its technology on the end of the day it still be humanity withits distinct patterns of behavior .
Roots for understanding human nature and it`s behavioral patterns was, as I think, excellentpresented in famous work of Edward Osborne Wilson:Sociobiology: The New Synthesis1975.Michael McGoodwin paraphrasing and quoting Wilson (pp. 16 and 222) on sociobiologySociobiology is defined as the scientific or systematic study of the biological basis of all forms of social behavior, in all kinds or organisms including man, and incorporating knowledge fromethnology, ecology, and genetics, in order to derive general principles concerning the biologicalproperties of entire societies. "If humankind evolved by Darwinian natural selection, geneticchance and environmental necessity, not God, made the species." "The brain [and the mind] existsbecause it promotes the survival and multiplication of the genes that direct its assembly."
 
The two apparent dilemmas we face therefore are:(1) We lack any goal external to our biological nature (for even religions evolve to enhance thepersistence and influence of their practitioners). Will the transcendental goals of societies dissolve,and will our post-ideological societies regress steadily toward self-indulgence?(2) Morality evolved as instinct. "Which of the censors and motivators should be obeyed and whichones might better be curtailed or sublimated?"Although much human diversity in behavior is culturally influenced, some has been shown to begenetic - rapid acquisition of language, human unpredictability, hypertrophy (extreme growth of pre-existing social structures), altruism and religions. "Religious practices that consistently enhancesurvival and procreation of the practitioners will propagate the physiological controls that favor theacquisition of the practices during single lifetimes." Unthinking submission to the communal willpromotes the fitness of the members of the tribe. Even submission to secular religions and cultsinvolve willing subordination of the individual to the group. Religious practices confer biologicaladvantages.[1]Wilson used sociobiology and evolutionary principles to explain the behavior of the social insectsand then to understand the social behavior of other animals, including humans, thus establishedsociobiology as a new scientific field. He argued that all animal behavior, including that of humans,is the product of heredity,environmental stimuli, and past experiences, and thatfree willis an illusion. He has referred to the biological basis of behavior as the "genetic leash."[2]Thesociobiological view.[3]The controversy of sociobiological research is in how it applies to humans. The theory establisheda scientific argument for rejecting the common doctrine of tabula rasa,which holds that humanbeings are born without any innate mental content and that culture functions to increase humanknowledge and aid in survival and success. In the final chapter of the book Sociobiology and in thefull text of hisPulitzer Prize-winningOn Human Nature,Wilson argues that the human mind is shaped as much by genetic inheritance as it is by culture (if not more). There are limits on just howmuch influence social and environmental factors can have in altering human behavior.[4]
Complex
, because , never before something that start so simple in the beginning
idea thatpeople can communicate openly without any borders
 
became “impossible to control “ and
involve in products so complex with the chains from borrower to end-investor so long , thatthorough due diligence was impossible .
 
A proper understanding of typical collateralized debtobligation (CDO) would have required reading 30,000 pages of documentation
.
[5]Fundamentally it became so complex that it almost destroyed world economy as we know it in2007-2008
, and as I believe radical changes should be made or … well I hop`s I’m wrong .
 

Activity (2)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->