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Cambridge News: What bankers can learn from The Hobbit


Greedy as it was, King Thrór’s hoarding of gold in The Hobbit was also “sound central banking practice” … Mr Taylor, a finance lecturer at Cambridge Judge Business School, who has studied Morton and George’s work, has been telling students that if Thrór released all that gold into the economy it would have collapsed its price, caused spiralling inflation and damaged the economy.

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