When it comes to economics, diversity is key

A study published this week in Nature compared the U.S. economic downturn with a current ecological issue: a decline in biodiversity. In the study, economist Andrew Haldane of the Bank of England and zoologist Robert May of Oxford University basically described the financial system as having similar weaknesses as a monoculture. That is, if all banks are run equally, they are more susceptible to a uniform crisis; much in the way that a...

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