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The End of Theory|Richard Bookstaber
The End of Theory : Financial Crises, the Failure of Economics, and the Sweep of Human Interaction
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Overview

An in-depth look at how to account for the human complexities at the heart of today's financial system

Our 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.

Details

  • ISBN-13: 9780691191850
  • ISBN-10: 0691191859
  • Publisher: Princeton University Press
  • Publish Date: April 2019
  • Dimensions: 9.2 x 6 x 0.8 inches
  • Shipping Weight: 0.85 pounds
  • Page Count: 240

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