Forecast
Subtitle: what physics, meteorology and the natural sciences can teach us about economics
By: Mark Buchanan
Publisher: Bloomsbury
Published: 2013
Place of publication: London
Language: eng
Number of pages: 261
ISBN-13: 9781408827376; 9781408841259
Subjects: Economics; Economic forecasting; Économie politique; Prévision économique
Description: "In this thoroughly researched and piercingly intelligent book, physicist Mark Buchanan shows how a simple feedback loop can lead to major consequences, the kind predictable by mathematical models but hard for most people to anticipate. From his unique perspective, Buchanan argues that our basic assumptions about economic markets - that they are for the most part stable, with occasional interruptions - are simply wrong. Markets really act more like weather: a brief heat wave can become a massive storm in a matter of a few days, or even hours. Forecast re-imagines the basics of the financial world, with consequences that affect everyone." --Publisher description.
Notes: Includes bibliographical references and index.
Table of contents: title: The equilibrium delusion; title: A marvelous machine; title: Notable exceptions; title: Natural rhythms; title: Models of man; title: Ecologies of belief; title: Perils of efficiency; title: Trading at the speed of light; title: Twilight of the idols; title: Forecast.