Redde Rationem
Keynes, Minsky and the Collapse of Long-Term Capital Management Twenty Years Later
Bibliographic Data
| ID | 14713880 |
|---|---|
| Authors | Ognjen Radonjić (0009-0005-5465-3319, University of Belgrade, corresponding author) |
| Year | 2019 |
| Volume | 14 |
| Issue | 1 |
| Pages | 325-360 |
| Publication date | 2019-02-25 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Etnoantropološki problemi / Issues in Ethnology and Anthropology (JOURNAL) |
| Journal identifiers | ISSN: 0353-1589 • E-ISSN: 2334-8801 |
| Publisher | University of Belgrade - Faculty of Philosophy - Department of Ethnology and Anthropology (PUBLISHER) |
| DOI | 10.21301/eap.v14i1.13 |
| OpenAlex | W2947376490 |
| Language | EN |
The aim of this paper is to indicate, through study of the Long-Term Capital Management near-bankruptcy case, fallacies of modern financial theory. Model assumptions that determine the validity of theory must be realistic. The responsibility of academic community in the process of creating economic policy is significant since only valid theory could result in economic policies that would successfully deal with the instability of global world economy. On the other hand, if this fact remains ignored, it is reasonable to expect recurrent financial shocks in the future
Bankruptcy · Capital (architecture · Economics · Keynesian economics · Macroeconomics · Neoclassical economics · Physics · Positive economics · Term (time · Banking stability, regulation, efficiency · Economic Theory and Policy · Finance · Global Financial Crisis and Policies · History
| Citation velocity | historical |
|---|---|
| Highly cited | No |