Audiobook5 hours
The Economics of the Stock Market
Written by Andrew Smithers
Narrated by Dennis Kleinman
Rating: 0 out of 5 stars
()
About this audiobook
The current consensus economic model, the neoclassical synthesis, depends on aprioristic assumptions that are shown to be invalid when tested against the data and fails to include finance. Economic policy based on this consensus has led to the financial crisis of 2008, the "Great Recession" that followed, and the slow subsequent rate of growth. In The Economics of the Stock Market, Andrew Smithers proposes a model that is robust when tested, and by including the impact of the stock market on the economy, overcomes both these defects. The faults of the current consensus model are shown to result typically from an unscientific methodology in which assumptions are held to be valid despite their incompatibility with data evidence. Smithers demonstrates examples of these faults: the assumption that leverage does not affect the value of produced capital assets; the assumption that short-term and long-term interest rates, and the cost of equity capital, are codetermined; and the assumption that the decisions of corporate managements aim to maximize the present value of corporate assets rather than the value determined by the stock market. The Economics of the Stock Market proposes a model that includes and explains the stationarity of real returns on equity, based on the interaction of the differing utility preferences of the managers of companies and the owners of financial capital.
Related to The Economics of the Stock Market
Related audiobooks
A Concise Guide to Macroeconomics, Second Edition: What Managers, Executives, and Students Need to Know Rating: 0 out of 5 stars0 ratingsThe Little Book of Economics: How the Economy Works in the Real World Rating: 5 out of 5 stars5/5All About Asset Allocation, Second Edition Rating: 4 out of 5 stars4/5Ignore the Hype: Financial Strategies Beyond the Media-Driven Mayhem Rating: 0 out of 5 stars0 ratingsMathematical Finance Rating: 4 out of 5 stars4/5The Power of Money: How Governments and Banks Create Money and Help Us All Prosper Rating: 4 out of 5 stars4/5The Aspirational Investor: Taming the Markets to Achieve Your Life's Goals Rating: 4 out of 5 stars4/5Central Banking in Turbulent Times Rating: 4 out of 5 stars4/5Financial Markets Explained Rating: 5 out of 5 stars5/5Microeconomics Basics Rating: 0 out of 5 stars0 ratingsThe Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money Rating: 3 out of 5 stars3/5The Money Illusion: Market Monetarism, the Great Recession, and the Future of Monetary Policy Rating: 5 out of 5 stars5/5The Essentials of Risk Management, Second Edition Rating: 3 out of 5 stars3/5Risk Parity: How to Invest for All Market Environments Rating: 5 out of 5 stars5/5Odds On: The Making of an Evidence-Based Investor Rating: 4 out of 5 stars4/5Commodities For Dummies, 3rd Edition Rating: 5 out of 5 stars5/5Chasing Chances: How Smart People Lose Money Investing Rating: 5 out of 5 stars5/5Fundamentals of Credit and Credit Analysis: Corporate Credit Analysis Rating: 5 out of 5 stars5/5Get Rich With Dividends: A Proven System for Earning Double-Digit Returns (Agora Series) Rating: 5 out of 5 stars5/5Manias, Panics, and Crashes: A History of Financial Crises Rating: 4 out of 5 stars4/5The Little Book of Picking Top Stocks: How to Spot Hidden Gems Rating: 2 out of 5 stars2/5Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk Rating: 4 out of 5 stars4/5The Uncertainty Solution: How to Invest with Confidence in the Face of the Unknown Rating: 5 out of 5 stars5/5Where the Money Is: Value Investing in the Digital Age Rating: 4 out of 5 stars4/5The Trading Mindwheel: Eight Essential Skills for Trading Mastery Rating: 5 out of 5 stars5/5
Investments & Securities For You
Financial Intelligence: How to To Be Smart with Your Money and Your Life Rating: 4 out of 5 stars4/5The Intelligent Investor Rating: 4 out of 5 stars4/5The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns Rating: 4 out of 5 stars4/5The Richest Man in Babylon Rating: 4 out of 5 stars4/5The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life Rating: 5 out of 5 stars5/5Flash Boys Rating: 4 out of 5 stars4/5The Bogleheads' Guide to Investing: Second Edition Rating: 5 out of 5 stars5/5The Intelligent Investor Rev Ed. Rating: 5 out of 5 stars5/5The Big Short: Inside the Doomsday Machine Rating: 5 out of 5 stars5/5Stock Market Investing for Beginners & Dummies Rating: 5 out of 5 stars5/5Learn to Earn: A Beginner's Guide to the Basics of Investing Rating: 5 out of 5 stars5/5How to Invest Rating: 5 out of 5 stars5/5Don't Start a Side Hustle!: Work Less, Earn More, and Live Free Rating: 5 out of 5 stars5/5The Wizard of Lies: Bernie Madoff and the Death of Trust Rating: 4 out of 5 stars4/5Panic!: The Story of Modern Financial Insanity Rating: 4 out of 5 stars4/5Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis Rating: 4 out of 5 stars4/5Stock Investing For Dummies: 5th Edition Rating: 5 out of 5 stars5/5Crypto Economy: How Blockchain, Cryptocurrency, and Token-Economy Are Disrupting the Financial World Rating: 4 out of 5 stars4/5The Path: Accelerating Your Journey to Financial Freedom Rating: 5 out of 5 stars5/5Buy It, Rent It, Profit!: Make Money as a Landlord in ANY Real Estate Market Rating: 5 out of 5 stars5/5Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life Rating: 5 out of 5 stars5/5Options Trading: The Ultimate Beginners Guide to Trading like the Rich Rating: 5 out of 5 stars5/5The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer Rating: 4 out of 5 stars4/5The Only Investment Guide You'll Ever Need Rating: 4 out of 5 stars4/5The Little Book That Still Beats the Market Rating: 4 out of 5 stars4/5
Reviews for The Economics of the Stock Market
Rating: 0 out of 5 stars
0 ratings
0 ratings0 reviews