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Hidden Collective Factors in Speculative Trading

A Study in Analytical Economics

Bertrand M. Roehner (Autor)

Buch | Hardcover

XXII, 312 Seiten

2009 | 2nd ed. 2009
Springer Berlin (Verlag)
978-3-642-03047-5 (ISBN)

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For the present edition four chapters have been added which form the fourth 1 part at the end of the book . Entitled The triumph of neoliberalism , the new partexplains how theimplementation worldwide oftheneoliberal agenda paved the way for the present crisis. As a matter of fact, the evidence provided in chapter 9 suggests that the present crisis already began to build up in the mid-1970s. It is around 1975 that (real) US wages reached a peak-level they would never regain in f- lowing decades. It was also around 1975 that the number of strikes began to fall sharply. The mid-1970s also marked the beginning of a huge in ow of immigrants (in large part of Hispanic origin) into the United States. The in ated supply of labor depressed wages and this had the consequence that consumption could be increased only by an unprecedented development of credit. Perhaps the reader may think that to blame the prevailing economic system for the unfolding depression is a fairly common and all too easy temptation.

PROLOGUE.- Overall view of speculative markets.- HIDDEN COLLECTIVE DETERMINANTS.- Rational?.- Joint crashes.- Contagion of speculative frenzy.- REGULARITIES IN SPECULATIVE EPISODES.- Peak amplitude: the price multiplier effect.- Peak shape: the sharp peak - flat trough pattern.- Stock market bubbles.- THE TRIUMPH OF NEOLIBERALISM.- Triumph of neoliberalism in economics.- Triumph of neoliberalism in society.- Triumph of neoliberalism in finance.- Is there a way out?.

From the reviews of the first edition:

"This book promises a lot. ... I found myself quite fascinated by the multitude of market events which are tabulated and carefully related to each other. ... The book is an excellent example of why the econophysics approach is so very welcome in the finance field. ... the book in general is an interesting and satisfying read." (Jessica James, Quantitative Finance, November 2001)

Erscheint lt. Verlag	11.9.2009
Zusatzinfo	XXII, 312 p.
Verlagsort	Berlin
Sprache	englisch
Maße	155 x 235 mm
Gewicht	655 g
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
Themenwelt	Wirtschaft ► Volkswirtschaftslehre
Schlagworte	combinatorics • Investment • Neoliberalism • Privatization • Quantitative Finance • Real-Estate Markets • Social Fragmentation • Speculation • Speculative Bubbles • Speculative Trading • Spekulation • Stock Market • Stock Markets • Trading
ISBN-10	3-642-03047-5 / 3642030475
ISBN-13	978-3-642-03047-5 / 9783642030475
Zustand	Neuware