11.05.2017

Book Review: The End of Theory. Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

400Richard Bookstaber, a risk analyst that in his career has been overseeing risk management, including at investment banks Morgan Stanley and Salomon Brothers, talks about the future of economical theory in The End of Theory, published by Princeton University Press.

Bookstaber starts explaining what happened during the various crises in the last two hundred years of the history of the economy, with a particular consideration about the American world. He then tackles the models that should replace that of economics which, according to Bookstaber, didn’t survive the latest economical crisis, while the economy is starting to get better.

Bookstaber’s model has a starting point that sounds normal but, in his view, is never considered enough: humanity.
The agent-based economics, as he calls it, is better equipped at preventing and managing crises since it is not based on automatons, as standard economics thinks, but on human beings.
Uncertainty, therefore, is a big part of the economy and should be taken into consideration.


Events


Semptember 2015
  • 20
    Nov

    The Lantern Fund Forum is one of the most important event focused on Asset Management, Investment To

  • 20
    Nov

    Topic: "Blockchain"

  • 22
    Nov

    Part I: Basics (“GIPS beginners”) - Part II: Recent Developments and Update from the GIPS Commit

  • 22
    Nov

    This seminar provides both “GIPS beginners” (part I and II) and “GIPS experts” (part II) wit

  • 23
    Nov

    Der SWISS FUND DAY ist eine Initiative, welche im Jahr 2006 von verschiedenen Vertretern der Fonds-

See All

newsletter

Updates and news from MarketPlus

Market Overview
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
Powered by Yahoo Finance