Thank god for the stream-lined logic of Mariana Mazzucato, innovation economist at Sussex University, who was on hand on Wednesday in the fintech session to remind the evangelists how financial innovation tends to increase not diminish rent extraction from the economic system.Must-read on financing innovation. If pressed for time, you can just skip down to the above quote and read the rest on MM.
Short-termism goes hand and hand with rent-seeking. Real innovation rather than puff is long haul, the result of strategic investment.
The Financial Times — FT Alphaville
Fintech and banking risk; cognitive dissonance de semaine
Izabella Kaminska
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