Financial Chaos (II)
It’s not really my argument, but I’ve just found a book where it’s stated that the outcome of the mathematical models applied to the financial markets not just let us understand better their functioning but changed the rules of it.
In, An Engine, Not a Camera: How Financial Models Shape Markets, Donald Mackenzie explains his theory about how our knowledge not just was increased, but the financial markets were re-shaped inside out. He analyses how financial theory performed in both 1987 and 1998 crises. Moreover, “financial chaos” (what’s referred to as “beyond mainstream”) is looked at too.
In definite, a theory for the implications of a theory!.