Part 13 (1/2)

32 shi+ller, Robert (2009), ”Reinventing economics,” World Finance, 23 October 2009

33 Keen, Steve (2001), Debunking Economics: The Naked Emperor of the Social Sciences (Sydney: Pluto Press)

34 ”Long View Part 3 - 'Real people' economics,” Financial Times (online video), 31 April 2009

35 Quoted in Moye, Catherine (2007), ”All in the mind,” Financial Times, 16 September 2007

36 Ayres, Ian (2007), Super Crunchers: How Anything Can Be Predicted (London: John Murray), p 50

37 See, for exaent-based Financial Markets: Matching Stylized Facts with Style,” in D Colander (ed), Post Walrasian Macroeconoe University Press), 221-35

38 See, for exaence of econoanization, 41, 55-84

39 Buchanan, Mark (2009), ”Meltdown Modelling,” Nature, 460, 680-82 See also: 40 An extensive co techniques found that ”simple methods do as well, or in many cases better, than statistically sophisticated ones” Makridakis, Spyros and Hibon, Michele (2000), ”The M3-Competition: results, conclusions and i, 16, 451-76

41 Orrell, David and McSharry, Patrick (2009), ”A Systeht, (14), 25-30 See also the commentary in the same issue by Paul Goodwin and Robert Fildes

42 1990 presidential address to the American Economic association See: Debreu, Gerard (1991), ”The Mathematization of Economic Theory,” American Economic Review, 81, 1-7

43 Coase, Ronald (1999), ”Intervieith Ronald Coase,” Newsletter of the International Society for New Institutional Economics, 2 (1)

44 Derman, Emanuel (2004), My Life as a Quant: Reflections on Physics and Finance (New York: Wiley), p 268

45 Quoted in Skidelsky, Robert (2009), ”The big squeeze,” New Statesman, 7 December 2009

Chapter 6

1 Fraser Institute, ”Index of economic freedom,” freetheworldcom/ 2 Anonymous (2008), ”Excerpts: Iceland's Oddsson,” Wall Street Journal, 17 October 2008

3 Ertel, Manfred (2009), ”Iceland's Woel, 22 April 2009

4 Sunderland, Ruth (2009), ”After the crash, Iceland's women lead the rescue,” Observer, 22 February 2009

5 Abraham, Ralph (1994), Chaos, Gaia, Eros: A chaos pioneer uncovers the three great streams of history (New York: HarperCollins), p 92

6 Guthrie, WKC (1962), A History of Greek Philosophy, Vol 1 (Caaret (2006), ”Nuoras, and the Idea Persists,” New York Times, 3 October 2006

8 Aristotle (350 BCE), Politics, trans Benjamin Jowett: classicsorean list of opposites also reflects left-brain (which controls the right side of the body) versus right-brain (which controls the left side of the body) attributes See Orrell, David (2007), Apollo's Arrow: The Science of Prediction and the Future of Everything (Toronto: HarperCollins), p 30

10 Fox Keller, Evelyn (1985), Reflections on Gender and Science (Yale University Press), p 53

11 Roszak, Theodore (1999), The Gendered Atoy of Science (San Francisco: Conari), p 56

12 Snow, CP and Collini, Stefan (1993), The Two Cultures (Cae University Press), p 103

13 Roszak, Theodore (1999), The Gendered Atoy of Science (San Francisco: Conari), p 88

14 Nelson, Julie A (1996), ”The Masculine Mindset of Econoher Education, 42, B3

15 Hilly (New York: Harper Perennial), p 132

16 According to Freakonomics author Steven Levitt, the vast majority of economists hadn't heard of Ostrom before she won the prize: ”I have no recollection of ever seeing or hearing her name mentioned by an econo and her career” Levitt, Steven D (2009), ”What This Year's nobel Prize in Economics Says About the nobel Prize in Economics,” New York Times, 12 October 2009

17 Henderson, Hazel (2004), ”The 'nobel' Prize That Wasn't,” Le Monde Diplomatique, December 2004 An example was Myron Scholes, who in 1997 won for his work on the very risk models that contributed to the spectacular collapse, a year later, of his eer (2000), When Genius Failed: The Rise and Fall of Long-Ter Committee (1999), ”Gra nobel Laureate Milton Friedov/prel99/1122 Co Cereov/prel99/1112gblht Committee (1999), ”Gramm Calls Commodity Futures Modernization Act 'A Major Achieveov/prel00/1215cofuhte, Gary (2008), ”Bad cheque for black America,” Guardian, 7 February 2008

22 It is debatable whether these cost efficiencies were very significant Paul Volcker, who is chairman of President Obama's Econoive me one shred of neutral evidence that financial innovation has led to econorowth - one shred of evidence” Any reduction in the cost of her ho Hosking, Patrick and Jagger, Suzy (2009), ”'Wake up, gentlemen', world's top bankers warned by former Fed chairman Volcker,” Times, 9 December 2009

23 Bannon, Lisa (2009), ”As Riches Fade, So Does Finance's Allure,” Wall Street Journal, 21 September 2009

24 Overbye, Dennis (2009), ”They Tried to Outsmart Wall Street,” New York Times, 9 March 2009

25 Li, David X (2000), ”On Default Correlation: A Copula Function Approach,” Journal of Fixed Inco, X (2008), ”Modelling the short-ter lifetimes of a couple” (London: Cass Business School)

27 Whitehouse, Mark (2005), ”How a For Investors,” Wall Street Journal, 12 September 2005

28 Fox Keller, Evelyn (1985), Reflections on Gender and Science (Yale University Press), p 141 Philospher Mary Midgley also notes that ”social scientistshave often pursued a very powerful and confused notion of 'objectivity' as requiring, not just the avoidance of personal bias, but a refusal to talk or think about subjective factors at all The word 'subjective' then becohts or feelings, and the word 'objective' a potent coley, Mary (1985), Evolution as a Religion: Strange hopes and stranger fears (London: Methuen), p 25

29 International Monetary Fund (2006), ”Global Financial Stability Report: Market Developton, DC: International Monetary Fund), April 2006, p 51

30 Whitehouse, Mark (2005), ”How a For Investors,” Wall Street Journal, 12 September 2005

31 Another example of this, apart from VaR and the Gaussian copula, is the famous Black-Scholes formula which played a key role in the Black Monday crash See Triana, Pablo (2009), Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets? (New York: Wiley)

32 Coht and Reform (2008), ”Testihthousegov/documents/20081023100438pdf 33 Baker, Peter (2009), ”The Mellowing of William Jefferson Clinton,” New York Ti the Financial Network,” speech delivered at the Financial Student association, Alandcouk/publications/speeches/2009/speech386pdf 35 The same pattern is true for Paulson's successor: ”Some of Treasury Secretary Timothy Geithner's closest aides, none of whom faced Senate confir for Goldroup Inc and other Wall Street fir to financial disclosure forms” Sch for Banks, Hedge Funds,” Bloo, 14 October 2009

36 Tett, Gillian (2009), ”Lunch with the FT: David Hare,” Financial Times, 25 September 2009

37 Zehner, Jacki (2008), ”Why Are Goldman's Women Invisible? (Asks a Forton Post: huffingtonpostcoold Birds on Flying: Can Mathematical Theories Destroy the Financial Markets? (New York: Wiley), p 88

39 Ishi+kawa, Tetsuya (2009), How I Caused the Credit Crunch (London: Icon), p 177