Like every folks, notwithstanding few so visibly, Alan Greenspan was once pressured through the monetary concern of 2008 to question a few primary assumptions approximately chance administration and financial forecasting. not anyone with any significant function in monetary selection making on this planet observed previously the hurricane for what it was once. How had our versions so totally failed us?
To solution this question, Alan Greenspan launched into a rigorous and far-reaching multiyear exam of ways Homo economicus predicts the commercial destiny, and the way it could actually are expecting it larger. fiscal threat is a truth of lifestyles in each realm, from domestic to enterprise to executive in any respect degrees. even if we’re aware of it or no longer, we make wagers at the destiny nearly on a daily basis, a method or one other. quite often, even though, we’re guidance by means of out-of-date maps, while we’re no longer pushed via components fullyyt past our wide awake control.
The Map and the Territory is not anything lower than an attempt to replace our forecasting conceptual grid. It integrates the background of financial prediction, the recent paintings of behavioral economists, and the culmination of the author’s personal striking profession to supply a thrillingly lucid and empirically established grounding in what we can
know approximately monetary forecasting and what we can’t.The ebook explores how tradition is and is not future and probes what we will are expecting concerning the world's largest looming demanding situations, from debt and the reform of the welfare kingdom to usual mess ups in an age of world warming.
No map is the territory, yet Greenspan’s procedure, grounded in his trademark rigor, knowledge, and unparalleled context, guarantees that this actual map will help in secure trips down many alternative roads, traveled via participants, companies, and the state.