“Even in financial markets, the concept of market efficiency does not hold.”
Part II, Chapter 8, The Dynamics of Unemployment, p. 176
The Death of Economics (1994)
Source: Public Finance - International Edition - Sixth Edition, Chapter 5, Externalities, p. 79
“Even in financial markets, the concept of market efficiency does not hold.”
Part II, Chapter 8, The Dynamics of Unemployment, p. 176
The Death of Economics (1994)
Source: The Illusion of Free Markets: Punishment and the Myth of Natural Order (2011), p. 32
Source: Economics after the crisis : objectives and means (2012), Ch. 2 : Financial Markets: Efficiency, Stability, and Income Distribution
Autobiographical Essay (2001)
“[Market outcomes] depends on the cumulation of random events.”
Source: Competing Technologies, Increasing Returns and Lock-in by Historical Events, (1989), p. 124; as cited in: Tobias Georg Meyer (2012) Path Dependence in Two-sided Markets. p. 244
Göran Asplund (1975), Strategy formulation: an intervention study of a complex group decision process. p. 22
Source: The Administrative State, 1948, p. 202
Source: The transformation of corporate control, 1993, p. 89
“Financial markets need to become less, not more, efficient.”
Thing 22
23 Things They Don't Tell You About Capitalism (2010)