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The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

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The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction - Thryft
The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction - Thryft

A groundbreaking critique of traditional economics and financial crises.

This book is a must-read for anyone interested in understanding the flaws of traditional economic models and how they fail to capture the complexities of human behavior. Richard Bookstaber presents a compelling argument for a new approach called agent-based economics, which acknowledges our human nature and embraces radical uncertainty. Through a thought-provoking analysis, Bookstaber challenges the status quo and offers a more realistic framework to prevent future financial meltdowns. Prepare to have your assumptions about economics turned upside down by this groundbreaking critique.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
Sale

The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

Save up to 43%
Condition guide

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ISBN: 9780691191850

Description

An in-depth look at how to account for the human complexities at the heart of today’s financial systemOur 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.


Author: Richard Bookstaber
Publisher: Princeton University Press
Publication Date: 2019
 

A groundbreaking critique of traditional economics and financial crises.

This book is a must-read for anyone interested in understanding the flaws of traditional economic models and how they fail to capture the complexities of human behavior. Richard Bookstaber presents a compelling argument for a new approach called agent-based economics, which acknowledges our human nature and embraces radical uncertainty. Through a thought-provoking analysis, Bookstaber challenges the status quo and offers a more realistic framework to prevent future financial meltdowns. Prepare to have your assumptions about economics turned upside down by this groundbreaking critique.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.