Money makes the World go round.

Money and the world of investing seems like a relatively new way of living and working with your hard earned pay check, in reality the world of finance has been around for much longer than we think. Even though it has only recently been created within an academic setting and discipline, it has been around for years. The hype nowadays is the amount of support the subject is getting from other realms of academia such as physics and economics. In Don Chance and Pamela Peterson’s article “The New Science of Finance” they discuss the changes and additions that have really taken the topic to the global obsession it has now become.

Finance used to be an art of formulas and other techniques only mathematical specialists or scientists could decipher. In the modern world, anyone could invest in the stock market or pick up a “How To” guide on finance. This type of accessibility has really made cracking the financial code so much easier for the typical person who is looking to make smarter moves with their money. None of this would have been possible without research and further exploration done into the subject by people like Merton or Scholes (Chance, Peterson 447). Their Nobel Prize winning research has really opened doors for finance in the modern world.

Due to the fact that our current economic situation is in turmoil, economists and other financial experts have really played a crucial role in the lives of consumers. Even though the world seems to be run by corporate greed and everyone’s desire to make as much money as possible, economic experts are so valuable to the economy by determining prices and value of items we buy everyday. Experts use the Gordon Model or other formulas in order to determine the price of items and their overall value to the consumer (Chance, Peterson 448). These formulas and models are another way technology and advancements within the topic have created an easier and more effective way to be successful in the world of finance. Other outlets like the stock market have become more popular and successful over time due to the social changes, such as wanting as much money as possible, our society has grown into. Without people constantly wanting to rise to the top, and without experts being on top of valuation the world of finance would cease to be as successful and powerful like it is today.