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In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fatal assumption--that markets act mechanically and economic change is fully predictable. In Beyond Mechanical Markets, Frydman and Goldberg show how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies, and...

The idea of -world literature- has served as a crucial though underappreciated interlocutor for African diasporic writers, informing their involvement in processes of circulation, translation, and revision that have been identified as the hallmarks of the contemporary era of world literature. Yet in spite of their participation in world systems before and after European hegemony, Africa and the African diaspora have been excluded from the networks and archives of world literature. In Sounding the Break, Jason Frydman attempts to redress this exclusion by drawing on historiography,...

The idea of -world literature- has served as a crucial though underappreciated interlocutor for African diasporic writers, informing their involvement in processes of circulation, translation, and revision that have been identified as the hallmarks of the contemporary era of world literature. Yet in spite of their participation in world systems before and after European hegemony, Africa and the African diaspora have been excluded from the networks and archives of world literature. In Sounding the Break, Jason Frydman attempts to redress this exclusion by drawing on historiography,...

This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis. However, in their provocative introductory essay, Roman Frydman and Edmund Phelps argue that the vast majority of macroeconomic and finance models developed over the last four decades derailed, rather than built on, the Phelps volume's "microfoundations" approach. Whereas the contributors to...