This may not have gone to the list
----- Original message -----
Sent: 2008/11/08 14:46:42
Subject: Fw:Re: [OPE] The micro dimension of the Financial Crisis.
The presenter certainly makes the claim that human behviour cannot be modelled mathematically. But nowhere in the clip is there anything like an argument to support such a conclusion. Alejandro, can you indicate your argument for this conclusion?
If we wanted to take out the most telling phrase from this clip (which is good, but one of many), it would be the reference to criminal incompetence (only, of course, OPElers would want to move beyond this individualstic moralising to point out how incentives for such criminal incompentence are an integral part of capitalism).
michael W
----- Original message -----
Sent: 2008/11/08 11:51:16
Subject: Re: [OPE] The micro dimension of the Financial Crisis.
Take a look at this “60 minutes” video about the causes of the financial crisis.
http://www.cbsnews.com/stories/2008/10/05/60minutes/main4502454.shtml
It’s a grate document. It tackles with the micro level of the financial crisis that Marxism overcomes, due to its reluctance to deep into the complexities of forecasting future prices in a market economy.
Even more, it revels that behind the financial instruments called “derivatives”, rests the minds of mathematicians and physicists that built complex mathematical models that at the end reveled incapable of modelling human conduct.
Regards,
Alejandro Agafonow
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Mon Nov 10 15:06:40 2008