The Illusion of Control

Name: The Illusion of Control
Brand: Unknown
SKU: 9780300234817
Price: 59.99 NZD
Availability: InStock

Why Financial Crises Happen, and What We Can (and Can’t) Do About It

By Jon Danielsson

0.0 (0 reviews)

3.77

( 35 ratings, 4 reviews)

Summary

The Illusion of Control by Jon Danielsson explores the intriguing world of financial risk management, delving into the limits of control within finance systems. The book examines how financial markets often give a false sense of control and predictability, leading to potential vulnerabilities and crises. It combines history, theory, and practical examples to provide insight into the complex dynamics of financial risk and the illusion of certainty in investing.
Read More

Format: Hardback

$59⁹⁹

AVAILABLE WITH SUPPLIER Ships from our Auckland warehouse within 3-4 weeks

Found a better price? Request a price match

The Illusion of Control

$59⁹⁹

Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

This book may appeal to you if you are interested in understanding the complexities and myths surrounding financial markets. It offers insightful perspectives on the perceived control in finance and explores why our confidence in financial regulation and management might be flawed. Perfect for finance enthusiasts seeking a deeper grasp of risk management and market dynamics.

The Illusion of Control

A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to fail

Description

The Illusion of Control challenges the conventional wisdom surrounding financial risk, offering insight into why easy solutions to control the financial system are doomed to fail.

Finance brings both prosperity and danger. We use measurements of risk to try and control the dangers of investments while maximising our growth. Current strategies rely on mathematical techniques and historical data to predict future risk but often ignore the human component, failing to account for the nature of risk inherent in the system.

Jón Daníelsson argues that critical risk is generated from within, through the interactions of individuals and perpetuated by their beliefs, objectives, abilities, and prejudices. He asserts that the widespread belief that risk originates outside the financial system frustrates our ability to measure and manage it. Furthermore, he suggests that the likely consequences of new regulations might help alleviate small-scale risks but, perversely, encourage excessive risk taking.

Daníelsson uses lessons from past and recent crises to demonstrate that diversity is the best way to safeguard our financial system.

Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

The Illusion of Control by Jon Danielsson is commended for its critical analysis of financial regulation and risk management, challenging conventional approaches. Reviewers highlight Danielsson's arguments against central banks handling financial stability, advocating instead for separate, politically accountable agencies. The book is applauded for its insights into systemic financial crises and the limitations of risk models, with several reviewers recommending it to both financial regulators and professionals seeking an alternative perspective on risk management.

Book Details

INFORMATION

ISBN: 9780300234817

Publisher: Yale University Press

Format: Hardback

Date Published: 23 August 2022

Country: United States

Imprint: Yale University Press

Illustration: 45 b-w illus.

Audience: General / adult, Professional and scholarly

DIMENSIONS

Width: 156.0mm

Height: 235.0mm

Weight: 0g

Pages: 288

Collections

Education & Reference Finance & Economics Finance & Investment Jon Danielsson Non-Fiction Politics & Current Affairs Science & Nature

About the Author

Jón Daníelsson is a professor of finance and the director of the Systemic Risk Centre at the London School of Economics. He is the author of Financial Risk Forecasting and Global Financial Systems: Stability and Risk.