"Our economy may have recovered from the Great Recession--but not our economics. In [this book], Richard Bookstaber ... [posits that] the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises. What model should replace it? None. At least not any version we've been using for the past two hundred years. Instead, Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the ...
Read More
"Our economy may have recovered from the Great Recession--but not our economics. In [this book], Richard Bookstaber ... [posits that] the human condition and the radical uncertainty of our world renders the standard economic model--and the theory behind it--useless for dealing with financial crises. What model should replace it? None. At least not any version we've been using for the past two hundred years. Instead, 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"--
Read Less
