A thing which I unironically and enthusiastically believe which is unpopular among smart people of my acquaintance: financial engineering has in the recent past and present contributed substantially to human welfare. We should hope to see more of it.
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Financial engineering is sort of a squishy term. I don’t primarily mean payments infrastructure or financial rails, although both of those involve substantial engineering. I mean more “We took a thing and performed some alchemy, and now have a new thing.”
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Except instead of alchemy it is generally quite a bit of math, a huge amount of contract law and due diligence, often an impressive amount of ops work, and a dusting of technology that web devs would recognize as such.
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I like to say finance done well/right is “the lock free wait free scheduler is an economy”. So many things people do would otherwise get stalled.
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I would happily read this blog post.
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I agree with you but don't think this is a controversial position. I think what's controversial is that some think the same environment which allows for this kind of financial engineering also permits too many other kinds of activities which are perceived to be detrimental.
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