Friedrich Engels Friedrich Engels Friedrich Engels (; ; sometimes anglicised Frederick Engels; 28 November 1820 – 5 August 1895) was a German philosopher, communist, social scientist, journalist and businessman. His father was an owner of a large textile factory in Salford, England. Engels founded Marxist theory together with Karl Marx and in 1845 published "The Condition of the Working Class in England", based on personal observations and research in Manchester. In 1848, Engels co-authored "The Communist Manifesto" with Marx and also authored and co-authored (primarily with Marx) many other works. Later, Engels supported Marx financially to do research and write "Das Kapital".
Financial Modelers' Manifesto extensively about the risks related to financial models for several years before the crisis; for example: Emanuel Derman in 1996: Paul Wilmott in 2000: Financial Modelers' Manifesto The Financial Modelers' Manifesto was a proposal for more responsibility in risk management and quantitative finance written by financial engineers Emanuel Derman and Paul Wilmott. The manifesto includes a Modelers' Hippocratic Oath. The structure of the Financial Modelers' Manifesto mirrors that of "The Communist Manifesto" of 1848. The Manifesto and Oath were written in response to the Financial crisis of 2007–2010 with the collapse of subprime mortgages. A shortened version was published in