Are We Doomed to Repeat the 2008 Stock Market Crash?
As smoke cleared from the 2008 stock market crash, economists emerged from the wreckage questioning everything they knew. They had believed the stock market was destined for balance, that it tended towards stability, but history showed otherwise.
The conventional view of economics held that investors acted reasonably. These mythical investors would bring stock prices into harmony using their perfect information and flawless logic, bringing order and equilibrium to the market. That's how economists thought the.
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