Savings
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Tech: The Goal, or Just Another Path to Growth?
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In 2012, the average resident of San Francisco supported about $76,000 in gross domestic —about $19,000 more than the average in Chicago. That gap has widened to more than $29,000 today. San Francisco’s economy is growing nearly three times faster on a per capita basis than Chicago’s. Meanwhile, San Jose…
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Higher Savings, Lower Returns: The Unacknowledged Externalities of Financial Innovation
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New research shows how innovation in finance may increase the aggregate demand for investments over time, yet lower the expected return on assets.