Masters of Nothing: How the Crash Will Happen Again Unless We Understand Human Nature (BOK)

Matthew Hancock, Nadhim Zahaw

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Behaviour is important. Whether this be the behaviour of those who saw it coming, or of those who constantly berated them. The behaviour of those who rode the boom and switched at the tipping point to ride the bust, or the behaviour of those who held on to their principled as the system collapsed around them. It was human behaviour after all, that led us to construct a bubble nobody suspected was dangerous, yet nonetheless would burst with disastrous consequences. Contrary to the views of many before the crash the cycle is inevitable - you cannot eliminate boom and bust. In a boom the bullish are promoted whilst the cautious are overlooked, reinforcing the cycle. This factor is generally ignored by the beautiful but flawed models of economic analysts. Since we cannot abolish the cycle, we must ensure that busts are not so dangerous in the future. The policy solutions are there if we're brave enough, from changing incentives, and creating fiscal and financial regulators with clout and discretion, through to changing corporate governance and shifting the power of executives.


Språk Engelsk Engelsk Utgitt 2011
Forfatter Matthew Hancock, Nadhim Zahaw Forlag
ISBN 9781849541435 Antall sider 208
Dimensjoner 12,9cm x 19,8cm x 2,3cm Vekt 318 gram
Leverandør Bertram Trading Ltd Emner og form Politics & government, Economic & financial crises & disasters