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The Instability of Financial Markets: A Critique of Efficient Markets Theory

In: Heterodox Analysis of Financial Crisis and Reform

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  • Robert E. Prasch

Abstract

Though the worst of the financial crisis of 2008 has, with hope, ebbed, it has forever changed the economy in the United States and throughout the rest of the world. Using the financial and economic crisis as a catalyst, this volume examines how to better regulate the financial system and what to expect in the future if no steps are made toward reform. This book lays the foundation for those steps by providing concrete ideas that will push policy in the direction of jobs growth and widespread prosperity.

Suggested Citation

  • Robert E. Prasch, 2011. "The Instability of Financial Markets: A Critique of Efficient Markets Theory," Chapters, in: Joëlle Leclaire & Tae-Hee Jo & Jane Knodell (ed.), Heterodox Analysis of Financial Crisis and Reform, chapter 5, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13978_5
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    References listed on IDEAS

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    1. Paul Davidson, 1991. "Is Probability Theory Relevant for Uncertainty? A Post Keynesian Perspective," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 129-143, Winter.
    2. James Crotty, 2009. "Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 563-580, July.
    3. Robert E. Prasch, 2004. "Shifting Risk: The Divorce of Risk from Reward in American Capitalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 38(2), pages 405-412, June.
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    Cited by:

    1. Leonel Arango Vásquez & Eduardo Alexander Duque Grisales, 2016. "Capital riesgo y dinero inteligente: aportes de valor no monetario," Contexto (Artículos Sobre Economía), Universidad Externado de Colombia, February.

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