Beyond Mechanical Markets

Resumen del libro

"The year 2008 saw not only financial failure but the failure of an idea, the economic theory in which financial markets are mechanically determined to settle at equilibrium and economically efficient prices. Roman Frydman and Michael Goldberg demonstrate clearly the fallacy of that idea. Their powerful analysis provides insights which can help us reduce the probability and severity of future crises."--Adair Turner, chairman of Britain's Financial Services Authority

"Beyond Mechanical Markets is a potential turning point in economics. Frydman and Goldberg offer a view that is not only new but almost certainly correct--and that has far-reaching implications. After reading Beyond Mechanical Markets, other economics books seem old-fashioned."--Richard Robb, Columbia University