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

by Roman Frydman and Michael D. Goldberg

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...

• Format: Hardcover
• Language: English
• ISBN: 0691145776
• ISBN13: 9780691145778
• Release Date: February 2011
• Publisher: Princeton University Press
• Length: 288 Pages
• Weight: 1.30 lbs.
• Dimensions: 1.0" x 6.5" x 9.3"