Biology and Credit Crunch

Biology is the science of organic life and the natural world. Even though it might seem at first that biology and finance might be poles apart and have nothing in common with each other, it is t is something that is fast helping economists in building various new models to understand how the financial sector works. It has also been noted that many scholars believe that a better understanding of biology in terms of our ecology could have worked to warn us of the impending credit crunch that occurred in 2008 and could have helped us prevent it from happening. This might sound like something that is impossible; however, some scientists that are working with the Bank of England believe that biological sciences have a lot of lessons to teach us about finance. In this respect, such scientists urge people to think out of the box and be able to better understand their ideas about finance and biology. In this respect, we find that experts that delve in the financial aspects of our lives are looking at other disciplines to help them better understand the workings of finance and the financial world. Just like the credit crunch has an effect on biology in terms of biotech research (Mitchell 359), the biological systems also had an effect on how we perceive the financial systems.
It has to be noted that the banking industry has been borrowing ideas from science for a long time. For instance, we find that the computer technological revolution that occurred in the 1970s and 1980s greatly impacted how financial institutions worked. They were able to harness the technology and use it for greater computation, making it much easier for accountants and financial analysts to do their jobs. When the financial crash occurred in 2008, the financial analysts started to look at science again, this time finding biology. In this respect, they are able to look at