Is gold a safe haven? International evidence
In this essay I discuss the role of cooperation in the process of innovation. I argue for a reorientation of the way we conceptualize economic behaviour, taking account of the centrality of cooperation as a driving force of economic dynamism. I also seek to distinguish between different forms of cooperation – ‘negative’ cooperation, based on coercion and survival needs, as distinct from ‘positive’ cooperation, which facilitates creativity, self-expression and ultimately innovation.
Baur, D.G. and McDermott, T.K.J. August 2010. Is gold a safe haven? International evidence. Journal of Banking and Finance, v.34, pp.1886-98.