The global economic crisis could have been ‘largely avoided’ if Charles Darwin’s theory of evolution was applied to banking, according to one of the UK’s most respected economists.
Dr George Cooper, a former strategist for both Goldman Sachs and Deutsche Bank, believe Darwin’s theory holds true in financial contexts and could aid in solving the issues in a more scientific manner.
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In addition, they could prevent a more catastrophic downturn while ‘unlocking the true origin of economic growth and inequality.’
Cooper’s arguments, made in his book Money, Blood and Revolution, are based upon the tent pole of Darwinian evolution in that successful species must develop a highly competitive spirit in order to survive.
Cooper said: "Economics is a broken science. Economists live a kind of Alice in Wonderland state and believe in multiple, inconsistent, things at the same time. Though more than 130 years have passed since Darwin’s death, the premise of his ideas can and should now be applied to global economics in order that would leaders can fix inconsistencies and approach economics in a calculated, scientific way."
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