| The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction Contributor(s): Bookstaber, Richard (Author) |
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ISBN: 0691191859 ISBN-13: 9780691191850 Publisher: Princeton University Press OUR PRICE: $18.95 Product Type: Paperback - Other Formats Published: April 2019 |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - Theory - Business & Economics | Economic History - Business & Economics | Finance - Financial Risk Management |
| Dewey: 330.019 |
| Physical Information: 0.8" H x 6" W x 9.2" (0.85 lbs) 240 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: 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. 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 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. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again. |