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Richard Bookstaber

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Richard Bookstaber is the author of A Demon Of Our Own Design, a book highlighting the fragility of the financial system that occurs from tight coupling and complexity. The book is noted for its foreshadowing of the financial crisis of 2007–08.

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Richard Bookstaber’s books

Average rating: 3.9 · 1,316 ratings · 89 reviews · 6 distinct works • Similar authors

	A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation 3.92 avg rating — 1,091 ratings — published 2007 — 17 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction 3.81 avg rating — 223 ratings — published 2017 — 9 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	The Complete Investment Book: Trading Stocks, Bonds, and Options With Computer Applications 3.50 avg rating — 2 ratings — published 1985 — 2 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	世界文学名著典藏：金融家（全译本） 0.00 avg rating — 0 ratings — 2 editions	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	Managing Material Risk 0.00 avg rating — 0 ratings	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars
	A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Inn 0.00 avg rating — 0 ratings	Error rating book. Refresh and try again. Rate this book Clear rating 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars

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Quotes by Richard Bookstaber (?)

“Baron Rothschild quipped that there are “three principal ways to lose your money: wine, women, and engineers. While the first two are more pleasant, the third is by far more certain.”
― Richard Bookstaber, The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

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“Mathematics works only with computationally reducible systems. Axioms and deductive logic are intended to provide shortcuts, to give general results that can compress a problem and provide insight into its workings so that it can be solved without having to take on the tedious task of running things through step by step. For example, the math behind ballistics tables allows an artillery gunner to calculate where the shell will land before it is fired. By contrast, there is no precalculated table to consult to determine the best path through rush hour traffic.”
― Richard Bookstaber, The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

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“We can use the same model for pedestrians. The rules will be similar, in that movement will be dictated by the space available, but there is more freedom of movement because, unlike cars, which have defined lanes and tend not to push around and over one another, people in a crowd are less constrained. That is why you can have crushing stampedes emerge from pedestrian congestion while cars patiently wait in line.”
― Richard Bookstaber, The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction

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