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About this product
- DescriptionThe recent global financial crisis has made the inadequacies of the scientific state of ecomics and finance glaringly obvious, as these disciplines gave the false reassurance that such a self-destructive phemen could t happen. A similar phemen arose in the 1930's, when the pitfalls of the dominant ecomic theories were sharply exposed. Since then, the same analytical framework, in its new versions, has revealed a huge number of other empirical and experimental failures. On the other hand, the founders of the currently dominant theories in ecomics and finance (i.e. the standard paradigm) such as Walras (1834-1910), Modigliani (1918-2003) and Miller (1923-2000) have identified mathematical contradictions within their own foundational models, the root cause of which one has yet discovered. The standard paradigm has thus lost the reason for its existence in the light of experience, experiments and logical rigour. This book identifies the heuristic cause of these external and internal contradictions of the standard paradigm and remedies these problems by offering a new paradigm which can explain and predict observed ecomic behaviour, and resolve the extant behavioural, empirical and experimental puzzles. The new paradigm offers a dramatically improved understanding of ecomic behaviour at the micro as well as macro level of the ecomy within an over-arching framework comprising the real and the financial sectors. It does so in a rigorous but simple and clear way, using an axiomatic approach. It also offers policy recommendations on how the ecomy should be managed to avoid severe swings. It therefore is of great interest to scholars and practitioners in ecomics and finance.
- Author BiographyKazem Falahati is currently teaching International Financial Management at Glasgow Caledonian University, UK. He is an accountant-cum-economist by professional training. His experience includes senior managerial positions in both the financial and non-financial industries. He has advised major multinationals and financial institutions on their strategic investments and divestments as well as their financial structure, reporting and control with huge beneficial impact to their stakeholders.
- Author(s)Kazem Falahati
- PublisherTaylor & Francis Ltd
- Date of Publication04/07/2014
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationLondon
- Country of PublicationUnited Kingdom
- Content Note22 black & white illustrations, 4 black & white tables, 22 black & white line drawings
- Weight348 g
- Width156 mm
- Height234 mm
- Spine15 mm
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