Financial System
Financiers are not innately good or evil but rather, like other people, can be either, or can even be both simultaneously.
While some financiers are brilliant, they are not infallible, and fancy math does not reality make.
The financial system is a dense network of interrelated markets and intermediaries that allocates capital and shares risks by linking savers to spenders, investors to entrepreneurs, lenders to borrowers, and the risk-averse to risk-takers.
It also increases gains from trade by providing payment services and facilitating intertemporal trade.
A financial system is necessary because few businesses can rely on internal finance alone.
Specialized financial firms that have achieved minimum efficient scale are better at connecting investors to entrepreneurs than non-financial individuals and companies.
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