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The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
Richard Bookstaber
€ 52.92
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Description for The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
Hardback. Num Pages: 240 pages, 10 line illus. BIC Classification: KCA. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 229 x 152. .
An in-depth look at how to account for the human complexities at the heart of today's financial system Our economy may have recovered from the Great Recession--but not our economics. In The End of Theory, Richard Bookstaber discusses why the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises. What model should replace it? None. At least not any version we've been using for the past two hundred years. Instead, Bookstaber argues for a new approach called agent-based economics, one that takes as a starting ... Read more
An in-depth look at how to account for the human complexities at the heart of today's financial system Our economy may have recovered from the Great Recession--but not our economics. In The End of Theory, Richard Bookstaber discusses why the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises. What model should replace it? None. At least not any version we've been using for the past two hundred years. Instead, Bookstaber argues for a new approach called agent-based economics, one that takes as a starting ... Read more
Product Details
Publisher
Princeton University Press
Format
Hardback
Publication date
2017
Condition
New
Number of Pages
240
Place of Publication
New Jersey, United States
ISBN
9780691169019
SKU
V9780691169019
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
About Richard Bookstaber
Richard Bookstaber has overseen risk management at investment banks Morgan Stanley and Salomon Brothers, as well as major hedge funds such as Moore Capital and Bridgewater. He has also held positions at the U.S. Treasury, and is currently at the University of California. He is the author most recently of A Demon of Our Own Design (Wiley).
Reviews for The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
Important and elegantly written.
Jason Zweig, Wall Street Journal The End of Theory holds some important lessons for financial markets today... According to Bookstaber, it's time to stop tweaking a 150-year-old model that seems to be getting worse, not better, at predicting crises, and embrace something totally new. Finally, and perhaps most usefully, he challenges the economics profession itself, ... Read more
Jason Zweig, Wall Street Journal The End of Theory holds some important lessons for financial markets today... According to Bookstaber, it's time to stop tweaking a 150-year-old model that seems to be getting worse, not better, at predicting crises, and embrace something totally new. Finally, and perhaps most usefully, he challenges the economics profession itself, ... Read more