The Resource Beyond Mechanical Markets, Frydman, Roman, (electronic resource)

Beyond Mechanical Markets, Frydman, Roman, (electronic resource)

Label
Beyond Mechanical Markets
Title
Beyond Mechanical Markets
Statement of responsibility
Frydman, Roman
Creator
Contributor
Author
Subject
Genre
Language
  • eng
  • eng
Summary
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 change is fully predictable. In Beyond Mechanical Markets , Frydman and Goldberg show how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies, and what role government can and can't play. The financial crisis, Frydman and Goldberg argue, was made more likely, if not inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how imperfect knowledge economics, an approach they pioneered, provides a better understanding of markets and the financial crisis. Frydman and Goldberg deliver a withering critique of the widely accepted view that the boom in equity prices that ended in 2007 was a bubble fueled by herd psychology. They argue, instead, that price swings are driven by individuals' ever-imperfect interpretations of the significance of economic fundamentals for future prices and risk. Because swings are at the heart of a dynamic economy, reforms should aim only to curb their excesses. Showing why we are being dangerously led astray by thinking of markets as predictably rational or irrational, Beyond Mechanical Markets presents a powerful challenge to conventional economic wisdom that we can't afford to ignore
http://library.link/vocab/creatorName
Frydman, Roman
Nature of contents
standards specifications
http://library.link/vocab/relatedWorkOrContributorName
  • Goldberg, Michael
  • Safari, an O'Reilly Media Company
http://library.link/vocab/subjectName
  • Business enterprises
  • Economics
  • Commerce
Label
Beyond Mechanical Markets, Frydman, Roman, (electronic resource)
Link
https://www.safaribooksonline.com/library/view/-/9781400838189/?ar
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Dimensions
unknown
Edition
1st edition
Extent
288 p.
Form of item
online
Issuing body
Made available through: Safari, an O'Reilly Media Company.
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
  • 41534
  • 9781400838189
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (Sirsi) a275743
  • (Safari)9781400838189
System details
Mode of access: World Wide Web
Label
Beyond Mechanical Markets, Frydman, Roman, (electronic resource)
Link
https://www.safaribooksonline.com/library/view/-/9781400838189/?ar
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Dimensions
unknown
Edition
1st edition
Extent
288 p.
Form of item
online
Issuing body
Made available through: Safari, an O'Reilly Media Company.
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
  • 41534
  • 9781400838189
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (Sirsi) a275743
  • (Safari)9781400838189
System details
Mode of access: World Wide Web

Library Locations

    • Waubonsee: Sugar Grove Campus - Todd LibraryBorrow it
      Collins Hall 2nd Floor Waubonsee Community College Route 47 at Waubonsee Drive, Sugar Grove, IL, 60554-9454, US
      41.7974 -88.45785
Processing Feedback ...