Economics & Growth | Monetary Policy & Inflation
MIT Speech 2023: In a Turbulent World, Become Like Water
- By Bilal Hafeez
- 3 min read
It’s a great pleasure to be here at MIT in Cambridge, US. But I must start by correcting an earlier comment by another speaker. It was said that MIT invented modern finance. While I know that Americans have a habit of thinking they are the first at everything, having studied at the original Cambridge in the UK, I can say that the Cambridge economist John Maynard Keynes, author of the General Theory in 1936 among other things, articulated theories of hedging, portfolio replication, and term premia. I should add that he ran one of the earliest macro hedge funds for King’s College, Cambridge.
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