The End of Theory

Richard Bookstaber

£15.99

We send all orders via Royal Mail: within the UK, choose from 1st Class, 2nd Class or Special Delivery; for the rest of the world, International Standard or International Tracked. Delivery and packaging charges are calculated automatically at the checkout.

To collect orders in person from the Bookshop, choose Click and Collect at the checkout.


Princeton University Press
2 April 2019
ISBN: 9780691191850
Paperback
240 pages

From the publisher

An in-depth look at how to account for the human complexities at the heart of today's financial system

Our economy may have recovered from the Great Recession-but not our economics. The End of Theory discusses why 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. Richard 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. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.