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Author: Joseph Vogl
Publisher: Stanford University Press
ISBN: 0804792968
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
In his brilliant interdisciplinary analysis of the global financial crisis, Joseph Vogl aims to demystify finance capitalism—with its bewildering array of new instruments—by tracing the historical stages through which the financial market achieved its current autonomy. Classical and neoclassical economic theorists have played a decisive role here. Ignoring early warnings about the instability of speculative finance markets, they have persisted in their belief in the inherent equilibrium of the market, describing even major crises as mere aberrations or adjustments and rationalizing dubious financial practices that escalate risk while seeking to manage it. "The market knows best": this is a secular version of Adam Smith's faith in the market's "invisible hand," his economic interpretation of eighteenth-century providentialist theodicy, which subsequently hardened into an "oikodicy," an unquestioning belief in the self-regulating beneficence of market forces. Vogl shows that financial theory, assisted by mathematical modeling and digital technology, itself operates as a "hidden hand," pushing economic reality into unknown territory. He challenges economic theorists to move beyond the neoclassical paradigm to discern the true contours of the current epoch of financial convulsions.
Author: Joseph Vogl
Publisher: Stanford University Press
ISBN: 0804792968
Category : Business & Economics
Languages : en
Pages : 169
Get Book Here
Book Description
In his brilliant interdisciplinary analysis of the global financial crisis, Joseph Vogl aims to demystify finance capitalism—with its bewildering array of new instruments—by tracing the historical stages through which the financial market achieved its current autonomy. Classical and neoclassical economic theorists have played a decisive role here. Ignoring early warnings about the instability of speculative finance markets, they have persisted in their belief in the inherent equilibrium of the market, describing even major crises as mere aberrations or adjustments and rationalizing dubious financial practices that escalate risk while seeking to manage it. "The market knows best": this is a secular version of Adam Smith's faith in the market's "invisible hand," his economic interpretation of eighteenth-century providentialist theodicy, which subsequently hardened into an "oikodicy," an unquestioning belief in the self-regulating beneficence of market forces. Vogl shows that financial theory, assisted by mathematical modeling and digital technology, itself operates as a "hidden hand," pushing economic reality into unknown territory. He challenges economic theorists to move beyond the neoclassical paradigm to discern the true contours of the current epoch of financial convulsions.
Author: Paula Taylor
Publisher: Random House Books for Young Readers
ISBN: 9780394850900
Category : Juvenile Nonfiction
Languages : en
Pages : 260
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Book Description
A project book that has a peek at life in the next century.
Author: Stefan Hajkowicz
Publisher: CSIRO PUBLISHING
ISBN: 148630141X
Category : Nature
Languages : en
Pages : 217
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Book Description
A scarcity of natural resources. The challenge to protect biodiversity and the global climate. Rapid economic growth and urbanisation in Asia and the developing world. Changing demographics and an ageing population. The impact of new digital technologies. Consumer expectations for services, experiences and social interaction. An imperative to innovate. Megatrends are gradual yet powerful trajectories of change that have the potential to throw companies, individuals and societies into freefall. In Global Megatrends author Stefan Hajkowicz identifies these seven patterns of global change and tells a story about how the world will change over the next 20 years. The book captures the thinking of many dedicated scientists and researchers who have devoted their careers to exploring and understanding change. The change heralded by megatrends lies beyond our direct control but not beyond our influence. By getting a picture of how the world is changing and what these megatrends are, we can alter our destiny.
