Price and Financial Stability: Rethinking Financial Markets

ISBN-13: 9781138299146 / Angielski / Twarda / 2018 / 118 str.

D. M. Harrison

Opis

This book builds on the insights of economists Frank Knight and John Maynard Keynes that uncertainty of the future is essential to understand the processes of economic production and capital investment, and adds to this Karl Popper's general explanation of how expectations of an uncertain future are formed and tested through a trial and error process. Rather than relying on fluctuating financial prices to provide a guide to an uncertain future, it suggests a better approach would be to adopt the methods common to other branches of science, and create testable (falsifiable) theories allowing reasonable predictions to be made.

Spis treści

Preface; 1 A brief history of our time; 2 Expectations, knowledge and prices; 3 Beyond price; 4 Savings, investment and liquidity; 5 Models, theories and apples; 6 Policy implications – finance; 7 Competition policy; 8 A new European capital market; 9 Geopolitics; Technical annex: Do we really need a new Bretton Woods?

O autorze

David Harrison is Legal Director at London law firm DAC Beachcroft LLP, UK. He previously held several positions relating to economic and international affairs, including speechwriter for the UK Foreign Secretary and for the President of the European Bank for Reconstruction and Development. Previous publications include The Organisation of Europe (Routledge, 1995) and Competition Law and Financial Services (Routledge, 2014).