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kkennedy : risk   10

The National Interest - The Last Temptation of Risk
FTA: 'The Great Credit Crisis has cast into doubt much of what we thought we knew about economics. ... The question is how we could have been so misguided. One interpretation, understandably popular given our current plight, is that the basic economic theory informing the actions of central bankers and regulators was fatally flawed. The only course left is to throw it out and start over. But another view, considerably closer to the truth, is that the problem lay not so much with the poverty of the underlying theory as with selective reading of it—a selective reading shaped by the social milieu.
economics  finance  corruption  risk 
may 2009 by kkennedy
The Crisis & What to Do About It - George Soros
FTA:'The salient feature of the current financial crisis is that it was not caused by some external shock like OPEC raising the price of oil or a particular country or financial institution defaulting. The crisis was generated by the financial system itself. This fact—that the defect was inherent in the system —contradicts the prevailing theory, which holds that financial markets tend toward equilibrium and that deviations from the equilibrium either occur in a random manner or are caused by some sudden external event to which markets have difficulty adjusting. The severity and amplitude of the crisis provides convincing evidence that there is something fundamentally wrong with this prevailing theory and with the approach to market regulation that has gone with it.'
economics  corruption  risk  finance  economy 
november 2008 by kkennedy
Security Theater (8/1/07) -- There's little downside to being alarmist about terror, so we spend too much on measures that evoke feelings of security without actually improving it.
economics  politics  risk  security 
august 2007 by kkennedy
The World According to Nassim Taleb
Derivatives Strategy - December/January'97:
math  financialdev  risk 
february 2006 by kkennedy

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