The fourth anniversary of the Lehman bankruptcy has been selected as the release date for a collection of essays edited by Diane Coyle with the provocative title: What's the Use of Economics? The timing is impeccable and the question legitimate. The book collects together some very thoughtful responses by Andrew Haldane, John Kay, Wendy Carlin, Alan Kirman, Andrew Lo, Roger Farmer, and a host of other luminaries (the publishers were kind enough to send me an advance copy). There's enough material there for several posts but I'd like to start with the contribution by John Kay.
On Prices, Narratives, and Market Efficiency
On Prices, Narratives, and Market Efficiency
On Prices, Narratives, and Market Efficiency
The fourth anniversary of the Lehman bankruptcy has been selected as the release date for a collection of essays edited by Diane Coyle with the provocative title: What's the Use of Economics? The timing is impeccable and the question legitimate. The book collects together some very thoughtful responses by Andrew Haldane, John Kay, Wendy Carlin, Alan Kirman, Andrew Lo, Roger Farmer, and a host of other luminaries (the publishers were kind enough to send me an advance copy). There's enough material there for several posts but I'd like to start with the contribution by John Kay.