Richard Bookstaber

The End of Theory

Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

• Broschiertes Buch

Produktbeschreibung

An in-depth look at how to account for the human complexities at the heart of today's financial systemOur economy may have recovered from the Great Recession-but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model-and the theory behind it-useless for

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Produktdetails

• Verlag: Princeton University Press
• Seitenzahl: 240
• Erscheinungstermin: 2. April 2019
• Englisch
• Abmessung: 237mm x 156mm x 22mm
• Gewicht: 380g
• ISBN-13: 9780691191850
• ISBN-10: 0691191859
• Artikelnr.: 53933664

Autorenporträt

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 held positions at the U.S. Treasury, and is currently at the University of California. He is the author of A Demon of Our Own Design (Wiley).

Inhaltsangabe

"Greg Mankiw said a decade ago, ¿The fact that modern macroeconomic
research is not widely used in practical policymaking is prima facie
evidence that it is of little use for this purpose.' In The End of Theory,
Richard Bookstaber explains why this is so, and presents an alternative to
change this situation. Showing that agent-based modeling provides a way of
recognizing patterns that emerge as economic crises develop, Bookstaber's
approach should help dampen crises and their impacts. What could be more
important?"--Alan Kirman, director of studies, École des Hautes Études en
Sciences Sociales and emeritus professor of economics, Aix-Marseille
University