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swaps, options and other derivatives aren't just for the financial elite

  • Written by: Richard Holden, Professor of Economics, UNSW
swaps, options and other derivatives aren't just for the financial elitePaulus van Dorsten/Shutterstock

One of the biggest trends in economics over the past 40 years has been so-called “financialisation” – whereby an increasing proportion of GDP in advanced economies comes from the financial sector.

This has involved the development of ever more sophisticated “financial instruments” such...

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