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Hardcover Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State Book
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ISBN: 0691145776

ISBN13: 9780691145778

Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State

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Format: Hardcover

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Book Overview

A powerful challenge to contemporary economics and a new agenda for global finance

In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fatal assumption--that markets act mechanically and economic...

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