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Forecast

What Physics, Meteorology, and the Natural Sciences Can Teach Us About Economics

Book - 2013
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Publisher: New York : Bloomsbury, c2013
Edition: 1st U.S. ed
ISBN: 9781608198511
1608198510
Branch Call Number: 330 Buch
Characteristics: x, 261 p. ; 25 cm

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pm221
Nov 12, 2017

A refreshing and scathing indictment of the current fashion in economics for “ general equilibrium” models. Perhaps we are going to have to wait for a few more funerals of prominent professors of economics before the current paradigm can be overthrown, but Buchanan points to some hopeful signs.

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crm57d
Feb 27, 2014

Excellent demolition of the prevailing economic theories that have refused to investigate, let alone understand, the cause of instability in the economy. Fraud by big banks and others plays some part, as does political incompetence, but willful ignorance by academia influencing policies in government and financial companies is a more pervasive, and harder to fight, root cause.

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StarGladiator
Feb 09, 2014

In January, 2014, once again JPMorgan Chase and Goldman Sachs pay criminal penalties, this time for fixing precious metals rates. That's the reason this is a fundamentally stupid book: every other month for the past twelve years or thereabouts, either JPMorgan Chase, or Goldman Sachs, pays a penalty to the government for some form of financial fraud. According to recent SEC investigations and news releases, the following have been rigged, and affect trillions or potentially hundreds of trillions of dollars' worth of contracts: LIBOR rates, interest rate swap/derivatives rates, FOREX rates, precious metals rates, oil/energy futures, et cetera! This fellow appears not to be aware of all this? ? ? How very perplexing?

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