The Myth of the Rational Market
This week at Cafe, Justin Fox joins us for a discussion of his book The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street. Fox is the business and economics columnist at TIME and author of The Curious Capitalist blog. Publishers' Weekly describes the book as "a chronological journey of modern economic theory...[a] a singularly compelling and rare business history that reads like a thriller." Fox has already put up his first post here.
Joining the discussion are Max Sawicky, expert economics blogger and Cafe contributor; Gerald Davis, the Wilbur K. Pierpont Collegiate Professor of Management at the Ross School of Business at the University of Michigan and author of Managed by the Markets: How Finance Reshaped America; Daniel Gross, senior editor at Newsweek and economic columnist and author; senior fellow at the Center for American Progress and author of The Tyranny of Dead Ideas; and Nick Schulz, the DeWitt Wallace Fellow at the American Enterprise Institute and Editor-in-Chief of American.com.


















If the market is, in any way, a reflection of the personalities of those on the front lines of its day-to-day operation, then NYSE floor traders are self-obsessed serial killers suffering from deep anxiety disorder, paranoia and apocalyptic nihilism. If ever they were allowed to reproduce, they would compulsively cannibalise their young. Never, ever turn your back to them; they will only see "knife rack".
Other than that, great buncha' folks...
July 13, 2009 5:05 PM | Reply | Permalink
If you'd like to play with irrational markets, the world's full of them. Shanghai, for starters.
July 13, 2009 9:02 PM | Reply | Permalink
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April 27, 2011 9:18 AM | Reply | Permalink