jools33 writes: "This is a fascinating story from the bbc of how a mathematical formula revolutionised the world of finance — which ultimately could have been responsible for its downfall. The Black-Scholes mathematical model, introduced in the 70s, opened up the world of options / futures / derivatives trading in a way that nothing before or since has accomplished, its phenominal success and widespread adoption lead to the discoverer winning a nobel prize in economics and yet it could ultimately have been responsible for the financial crisis of the past few years. Its interesting to ponder how algorithms and formulas that we work on today could fundamentally influence humanity's future."
"An idealist is one who, on noticing that a rose smells better than a
cabbage, concludes that it will also make better soup." - H.L. Mencken