In the sixteenth century, when the Spanish colonizers marched into Central and South America, they were primarily driven by the search for gold and silver. In such cases, space is generated for springing up new forms of financial companies and financial activities.Ĭhapter 1 – Money’s importance derives from the confidence we put in it as societies, not from its intrinsic value.
Moreover, businesses that cling to obsolete methods and struggle to generate enough returns are destined to extinction.Īny occurrences, such as the 19 financial crises, led to a mass extinction of financial institutions and activities. It is the financial equivalent of the replication of chromosomes. The businesses that respond to these modern conditions are rising and thriving, and are being imitated by others, while the others simply cease to exist. The financial world is continually changing in the same way as the natural environment is continuously evolving, through modern strategies and inventions. And it can be called as the financial equivalent to natural selection. The financial system evolves likewise, by the discovery of markets. In cases like this, new species will emerge in the gaps left by the extinct ones, such as after the meteor catastrophe, mammals took the place of dinosaurs. These shifts are typically limited to specific areas, but events occasionally happen that cause large-scale extinctions.įor instance, a meteor killed off nearly all life on earth 64 million years ago along with most dinosaurs. The transition is ongoing species still die out and are being replaced by new species. The more successful life forms were able to disperse their genes by reproduction and therefore grow in number, gradually taking the place of the dwindling ones. Fighting over such tools is dangerous when defeat always leads to extinction. There is only enough energy left in most environments to sustain a small period of life.
The most suitable ways of life for their habitats thrived, while those less successful died out. Life is evolving constantly every other day and it is possible through a process called natural selection, according to a discovery by Charles Darwin.
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