abelardo gonzalez

New ways of creating wealth don’t come along very often and they usually bring with them new ways of doing things. It changes family dynamics and the way we carry out everyday life. Such a new wealth system is about to explode on the scene, brought about by a new civilization of consumers: those who shop on the internet. Today’s wealth “revolution” will not only replace old technologies, but it will also profoundly alter institutions as today’s traditional role economies change into knowledge economies.

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew W. Lo cuts through this debate with a new framework.