New paradigms in financial economics : how would Keynes reconstruct economics? / Kazem Falahati.

Format:

Book

Author/Creator:

Falahati, Kazem, author.

Series:

Routledge International Studies in Money and Banking

Routledge international studies in money and banking ; 71

Language:

English

Subjects (All):

Finance.

Investments.

Finance--Mathematical models.

Investments--Mathematical models.

Physical Description:

1 online resource (225 p.)

Edition:

1st ed.

Place of Publication:

Abingdon, Oxon : Routledge, 2013.

Language Note:

English

Summary:

The recent global financial crisis has made the inadequacies of the scientific state of economics and finance glaringly obvious, as these disciplines gave the false reassurance that such a self-destructive phenomenon could not happen. A similar phenomenon arose in the 1930's, when the pitfalls of the dominant economic theories were sharply exposed. Since then, the same analytical framework, in its new versions, has revealed a huge number of other empirical and experimental failures. On the other hand, the founders of the currently dominant theories in economics and finance (i.

Contents:

Preface

Introduction

Irrational foundations of "rational" behaviour in the standard paradigm

Contradictions of the Marxian paradigm

The new paradigm

Resolution of theoretical and experimental puzzles

Resolution of empirical puzzles in corporate finance

Resolution of puzzles in macroeconomics

Economic role of the state

The recent global financial crisis

Conclusion, policy and research recommendations

Appendices: a critique of existing literature.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on metadata supplied by the publisher and other sources.

ISBN:

0-203-09718-1

1-283-86331-6

1-136-22154-9

9780203097182

OCLC:

820787671