Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142528
Authors: 
Dominique, C-René
Year of Publication: 
2008
Series/Report no.: 
EERI Research Paper Series 17/2008
Abstract: 
Greed and the unethical behavior of financial institutions obviously played a part in the collapse of the world capital market in 2008. But, this paper argues that the main culprits are the neo-liberal ideology (requiring ever smaller gov-ernments and privatization) and the flawed theories of risk assessment. It also finds that given the fact that market economies are fractal structures, the objective assessment and / or the quantification of risks is not even possible. It concludes with some recommendations as to how to avoid future collapses.
Subjects: 
Efficiency and self-correction in market economies
Linear-positive and non-linear modelings
creative destruction of coefficients
determinism and randomness
and risk assessment
JEL: 
E22
Document Type: 
Working Paper

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