Apologia Pro Vita Sua: The Vanishing of the White Whale in the Mists

TL;DR

This paper draws analogies between fortune hunting in various fields and academic research, emphasizing passion, motivation, and the development of techniques in the pursuit of theories in finance and institutions.

Contribution

It offers a reflective perspective on the parallels between historical fortune hunting and modern academic research in finance and institutions.

Findings

Highlights the importance of passion and motivation in research.

Draws historical analogies to illustrate research strategies.

Provides terminal observations on theory development in finance.

Abstract

There are many analogies among fortune hunting in business, politics, and science. The prime task of the gold digger was to go to the Klondikes, find the right mine and mine the richest veins. This task requires motivation, sense of purpose and ability. Techniques and equipment must be developed. Fortune hunting in New England was provided at one time by hunting for whales. One went to a great whalers' station such as New Bedford and joined the whale hunters. The hunt in academic research is similar. A single-minded passion is called for. These notes here are the wrap-up comments containing some terminal observations of mine on a hunt for a theory money and financial institutions.