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Author Buchanan, Mark.

Title Forecast : what physics, meteorology, and the natural sciences can teach us about economics / Mark Buchanan.

Imprint New York : Bloomsbury, 2013.

Copies

Location Call No. OPAC Message Status
 Axe 3rd Floor Stacks  330 B851f 2013    ---  Available
1 copy being processed for Axe Acquisitions Order.
Edition 1st U.S. ed.
Description x, 261 pages : illustrations ; 25 cm
text txt rdacontent
unmediated n rdamedia
volume nc rdacarrier
Bibliography Includes bibliographical references (pages 227-249) and index.
Contents The equilibrium delusion -- A marvelous machine -- Notable exceptions -- Natural rhythms -- Models of man -- Ecologies of belief -- Perils of efficiency -- Trading at the speed of light -- Twilight of the idols -- Forecast.
Summary Positive feedback--when A produces B, which in turn produces even more A--drives not only abrupt climate changes, but also disruptive events in economics and finance, from asset bubbles to debt crises, bank runs, even corporate corruption. But economists, with few exceptions, have ignored this reality for fifty years, holding on to the unreasonable belief in the wisdom of the market. It's past time to be asking how markets really work. Can we replace economic magical thinking with a better means of predicting what the financial future holds, in order to prepare for--or even avoid--the next extreme economic event? Here, physicist and acclaimed science writer Mark Buchanan answers these questions and more in a master lesson on a smarter economics, which accepts that markets act much like weather. Market instability is as natural--and dangerous--as a prairie twister. With Buchanan's help, perhaps we can better govern the markets and weather their storms.
Subject Equilibrium (Economics)
Business cycles.
Financial crises.
Economics -- Mathematical models.
Economic forecasting.
Business cycles. (OCoLC)fst00842457
Economic forecasting. (OCoLC)fst00901942
Economics -- Mathematical models. (OCoLC)fst00902155
Equilibrium (Economics) (OCoLC)fst00914547
Financial crises. (OCoLC)fst00924607
ISBN 9781608198511 (alk. paper)
1608198510 (alk. paper)
9781596918511 (alk. paper)
1596918519 (alk. paper)
Standard No. 40022124771

 
    
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