Money is human happiness in the abstract, wrote Schopenhauer grimly in the early 19th Century. He then, who is no longer capable of enjoying human happiness in the concrete devotes himself utterly to money. … But what is happiness? …
EMANUEL DERMAN is a professor in Columbia University’s Industrial Engineering and Operations Research Department, as well as a partner at Prisma Capital Partners. He is a former managing director and head of the Quantitative Strategies group at Goldman, Sachs & Co. His is the author of My Life As A Quant.