Wednesday, June 06, 2012
The Malign Hand of the Markets: What's The Matter With Wallstreet and How Do We Fix It?
Even after the global financial meltdown of 2008, economists have clung to Adam Smith’s “Invisible Hand” theory of an always self-regulating market that benefits private and public interests alike. But Duke University professor John Staddon is here to tell that there’s also another, darker force at work on Wall Street—a “Malign Hand” that guides all human interactions, including our finances. Combining psychology, behavioral economics, and other sciences, Staddon’s explosive new theory reveals the underlying principles behind the economic crisis, exposing the invisible mechanisms that drive our markets today. more