
Masters of Nothing
How the Crash Will Happen Again Unless We Understand Human Nature
Nadhim Zahaw(Author)
Biteback Publishing
Published on 15. May 2012
Book
Paperback/Softback
274 pages
978-1-84954-143-5 (ISBN)
Description
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.
More details
Language
English
Place of publication
London
United Kingdom
Product notice
Paperback (trade)
Unsewn / adhesive bound
Illustrations
Illustrations
Dimensions
Height: 211 mm
Width: 135 mm
Thickness: 23 mm
Weight
318 gr
ISBN-13
978-1-84954-143-5 (9781849541435)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
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E-Book
09/2011
Biteback Publishing
€10.00
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Person
Matthew Hancock: MATTHEW HANCOCK is the MP for West Suffolk. He was formerly George Osborne's Chief of Staff and an economist at the Bank of England.
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