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“I show that the explosion of financial technologies for retail investors does not guarantee broad increases in household wealth. Instead, the sophisticated investors who already have relatively high levels of wealth are most likely to benefit from many of the new technologies.”

Watch the video here.
Read the full paper here.

Petra Moser is a Professor of Economics at NYU Stern.

COVID-19 is a classic example of radical uncertainty.  We knew that pandemics were likely but we did not know enough to attach a probability to an event such as “a virus will emerge from Wuhan in China in December 2019”.  We do not know what the future will hold.

When the President Calls (MIT Press, 2019) features interviews with 35 economic policymakers who served US presidents from Nixon to Trump.