Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
You know, the future value of money, the present value of money — money today is worth more than in the future because you can invest it and get interest. Back in the ‘60s, people developed the capital asset pricing model [CAPM] as a way to do that. And that’s what these guys [the 2013 Nobel winners] did.
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