Economics & Finance

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

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

Paperback

Price:
$20.95/拢17.99
ISBN:
Published:
Apr 2, 2019
Copyright:
2017
Pages:
240
Size:
6.13 x 9.25 in.
Illus:
10 b/w illus.
Main_subject:
Economics & Finance
Buy This

Our economy may have recovered from the Great Recession鈥攂ut not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model鈥攁nd the theory behind it鈥攗seless for dealing with financial crises. What model should replace it? None. At least not any version we鈥檝e 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.

Awards and Recognition

  • Selected for Askblog鈥檚 Books of the year 2017