Evil is the root of all money.
-- Nobuhiro Kiyotaki and John Moore
From Tim Harford's latest Dear Economist column. The context in which this quote appears is this:
[W]e need money because people simply don’t trust each other. In the words of economists Nobuhiro Kiyotaki and John Moore, “evil is the root of all money”.
Going back to the endowments, I wonder how much of it came from slave trade and various dubious activities. I think that some of the famous cathedrals in England were built from money from slave trade; I do not know about the educational institutions.
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