Richard Bookstaber, The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
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22 mai 2019
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Connel Fullenkamp, « Richard Bookstaber, The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction », Œconomia, ID : 10.4000/oeconomia.5367
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I begin this review with what I consider high praise: Richard Bookstaber’s book The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction reminds me in many ways of Ricardo Rebonato’s Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently. Each book points out profound and irreparable shortcomings in one of the workhorse models of modern financial economics, and advocates for a different (though not new) approach to the task the...