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The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
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ISBN13: 9780691191850
Publisher: Princeton Univ Pr
Published: Apr 2 2019
Pages: 240
Weight: 0.85
Height: 0.80 Width: 6.00 Depth: 9.20
Language: English
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.1 different editions
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The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
Bookstaber, Richard
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