TIL that for 30 years economists believed lending to people without collateral was mathematically impossible, but new research shows this was wrong because the original proof assumed people couldn't save money or prefer stable income, both obviously fa...
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TIL that for 30 years economists believed lending to people without collateral was mathematically impossible, but new research shows this was wrong because the original proof assumed people couldn't save money or prefer stable income, both obviously false assumptions.
https://www.sciencedirect.com/science/article/abs/pii/S0899825622001579
#til #todayilearned
https://www.reddit.com/r/todayilearned/comments/1oxkl17/til_that_for_30_years_economists_believed_lending/ -
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