WHAT?S THE MATTER WITH WALL STREET?
And How Do We Fix It?
Even after the global financial meltdown of 2008, economists have clung to Adam Smith's "Invisible Hand? theory of an always selfregulating market that benefits private and public interests alike. But Duke University professor John Staddon is here to tell that there's also another, darker force at work on Wall Street?a "Malign Hand? that guides all human interactions, including our finances.
Combining psychology, behavioral economics, and other sciences, Staddon's explosive new theory reveals the underlying principles behind the economic crisis, exposing the invisible mechanisms that drive our markets today. You?ll learn how we can:
Using economic theory, global market trends, and psychological research, Staddon's electrifying book is both analytical and prescriptive?with a number of possible solutions to our most pressing economic concerns. You?ll learn about the wrong assumptions that underlie our present system, basic rules for managing risk, and the real reasons behind the market's greatest successes and biggest disasters.
You?ll hear surprising insights into the delicate relationship between Wall Street and Washington?with assessments of the bailouts, the Dodd-Frank bill, and other attempts at financial regulation. Best of all, you?ll discover realistic solutions that can stop the boom-and-bust cycle once and for all.
Compelling, controversial, and remarkably thorough, The Malign Hand of the Markets will change the way we plan our future, manage our finances, and build our fortunes.