w88 casino News Network (provided by the w88 casino of Finance) 4month23Sun evening, tenured professor of finance at Yale University w88 casino of Management, United StatesValue EngineThe founder of the company, Mr. Chen Zhiwu, is in Ningyuan728brought a wonderful lecture on the theme of “Risk and Human Development” to students from the University of w88 and Economics. Wang Chunlei, deputy secretary of the branch party committee of the w88 casino of Finance, and Liu Ying, secretary of the youth league committee, attended this lecture. The venue was packed with seats and was filled with a strong academic atmosphere.
After the host made a brief introduction, the lecture officially began. Professor Chen Zhiwu got straight to the point, introduced his research direction to the students, summarized the basic content of this lecture, and gave everyone a general understanding of this lecture. Professor Chen admitted frankly that he does not talk about the stock market or financial markets, but broadens his perspective and explores how financial markets change human society from the perspective of human social processes and risks. First of all, Professor Chen gave a detailed and vivid explanation from the aspects of "what is risk" and "why should we prevent risks". Examples such as the decline in the rate of violent deaths and the reduction in the frequency of wars prove that the improvement of civilization is closely related to the improvement of people's ability to prevent natural risks. The rise of the modern financial insurance industry plays a direct role in people's risk reduction process of natural disasters. "The history of mankind is the history of fighting against risks." Professor Chen said.
How do humans respond to risks? Professor Chen summarized three methods that have been adopted in human history. The first is superstition, which involves using gods to confuse oneself to reduce risky challenges. After the financial market developed and the ability to avoid risks improved, human beings' dependence on superstition was greatly reduced, which promoted social progress and gave rise to the second method - relying on technological innovation and revolution to avoid risks. From the establishment of the agricultural economy to the emergence and widespread spread of insurance crops, every step of human development is related to risk avoidance. Professor Chen’s research ideas gave us a new perspective on historical issues from a financial perspective, which benefited the audience a lot. The third method is the innovation of social mechanisms and organizational systems, among which Professor Chen focused on the surname system. As one of the most important financial innovations of mankind, the surname system has played a huge role in strengthening people's ability to allocate intertemporal risks, inherit investment products, and distribute assets after settlement. Based on the surname system, cultural ethics and morals have become the institutional framework for the execution of invisible financial transactions. The development of the financial market has fundamentally liberated people, especially women, from the role of economic tools and matching institutional constraints, giving people more free choices, and has a profound impact on the breakthrough of people's thinking. In short, if we understand the history of human development from the perspective of risk, we can find that human history is the history of the game with risks, and the history of civilization development is actually the history of the progress of human means to deal with risks. After entering modern finance, human non-violence reached a new level and personal freedom was released. Financial business has a huge impact on liberating society, liberating individuals and increasing social welfare. Therefore, China needs to further develop personal finance and consumer finance in order to better promote progress in science and technology, institutions, ideology and culture.
In this lecture, Professor Chen Zhiwu explained the story of risk in a simple and intuitive way how financial markets change human society in all aspects, allowing everyone to have a better understanding of the impact of finance, acquire professional knowledge, and broaden their horizons. Although the lecture has ended, the academic indoctrination and ideological enlightenment it brought to the students of the University of w88 and Economics are unforgettable.
