Of the Robert Shiller / James Kwak debate over financial innovation and its comparison to...

|By:, SA News Editor

Of the Robert Shiller / James Kwak debate over financial innovation and its comparison to technology innovation, Free Exchange notes that Moore's Law-like efficiency gains don't operate the same way in finance. It would be one thing if, as in an iPod, increasingly complex circuitry made it easier for you to move through playlists and video collections. "Instead, innovation is like those same wires and circuitboards dumped in front of consumers, who are then asked by a loan officer where he should start soldering."