Are Markets Efficient? Competition, Incentives, and Financial Bubbles
Book: Financial Cold War
Author: James A. Fok
ISBN: 9781119862765
Previous: Geo-Economic Warfare and the Dollar Weapon
Chapter 7 asks a basic question we skip too often. What are financial markets actually for? Fok opens with a Depression-era cartoon caption: “Phew! That’s a nasty leak. Thank goodness it’s not at our end of the boat.”