Next to the development of credit itself, the invention and still more the popularization of paper securities were probably the biggest single contribution the Jews made to the wealth-creation process. Jews hastened the use of securities just as much in areas where they felt safe as in areas where they were vulnerable, for they saw the entire world as a single market. Here, too, the global perspective which the diaspora gave them turned them into pioneers. For a race without a country, the world was a home.
