Impact Finance

The Industrial Revolution was a period of shift in Britain, continental Europe, and the USA from around 1760 until at some point between 1820 and 1840, when new production innovations were introduced. The shift from hand to device production, new chemical and iron production strategies, increased use of steam and waterpower, the development of device tools, and the rise of the mechanized factory system were all part of this change. The Industrial Revolution also introduced a period of remarkable population growth.

In his 2007 book The Black Swan, Nassim Nicholas Taleb says the Black Swans of his title can appear at any time, in the form of financial crises, wars, and other unexpected events that have profound, irreversible consequences. Taleb draws on philosophy, mathematics, economics, and other disciplines to explain in plain English why we seldom prepare for these events adequately. The way our brains process knowledge lull us into believing the future will resemble the past.

Do you envy the business people who constantly talk about how they have all the time in the world to go on vacation, and that they can afford these luxurious vacations? Have you often wondered how they did it? If you ask them, you will most likely receive a vague answer that referred to some investments or passive income. But what is passive income? Ideally, passive income is income that is relatively regular and comes from a source that you put minimal effort into every month to earn.