Financial bubbles and their magic: asset price as a heroic journey in the financial markets

Why do financial crises appear unprecedented in spite of being a rather regular occurrence across countries and time? There are many answers from various schools of finance and economics, including Minsky’s financial instability hypothesis in which systemic stability endogenously results in instabil...

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Autores principales:	Alexandru (alec) BĂLĂŞESCU, Apurv Jain
Formato:	article
Lenguaje:	DE EN FR
Publicado:	Editura ASE Bucuresti 2018
Materias:	Actor-Network-Theory semiotics agency asset pricing financial bubbles Minsky Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/977b78d30cf947ebb4d58d63ae48ae35
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spelling	oai:doaj.org-article:977b78d30cf947ebb4d58d63ae48ae352021-12-02T06:59:13ZFinancial bubbles and their magic: asset price as a heroic journey in the financial markets1843-22981844-8208https://doaj.org/article/977b78d30cf947ebb4d58d63ae48ae352018-11-01T00:00:00Z https://www.jpe.ro/pdf.php?id=8074 https://doaj.org/toc/1843-2298https://doaj.org/toc/1844-8208Why do financial crises appear unprecedented in spite of being a rather regular occurrence across countries and time? There are many answers from various schools of finance and economics, including Minsky’s financial instability hypothesis in which systemic stability endogenously results in instability. We explore the inclusion of observed human behavior in an endogenous framework by engaging with anthropological concepts such as myth, ritual and magic that structure and explain our behaviour, and by extending the concept of agency from human to non-human. We also point to the possibility of better understanding our position in the mythological cycle using the new social media data. The aim of the article is to offer a holistic framework of interpretation of causes and circumstances of economic crises, using the tools of economy, semiotics, and economic anthropology that would account for both the universality of these crises and for their particular occurrences that always seem unique.Alexandru (alec) BĂLĂŞESCUApurv JainEditura ASE BucurestiarticleActor-Network-Theorysemioticsagencyasset pricingfinancial bubblesMinskyEconomics as a scienceHB71-74DEENFRJournal of Philosophical Economics, Vol XII, Iss 1, Pp 1-35 (2018)
institution	DOAJ
collection	DOAJ
language	DE EN FR
topic	Actor-Network-Theory semiotics agency asset pricing financial bubbles Minsky Economics as a science HB71-74
spellingShingle	Actor-Network-Theory semiotics agency asset pricing financial bubbles Minsky Economics as a science HB71-74 Alexandru (alec) BĂLĂŞESCU Apurv Jain Financial bubbles and their magic: asset price as a heroic journey in the financial markets
description	Why do financial crises appear unprecedented in spite of being a rather regular occurrence across countries and time? There are many answers from various schools of finance and economics, including Minsky’s financial instability hypothesis in which systemic stability endogenously results in instability. We explore the inclusion of observed human behavior in an endogenous framework by engaging with anthropological concepts such as myth, ritual and magic that structure and explain our behaviour, and by extending the concept of agency from human to non-human. We also point to the possibility of better understanding our position in the mythological cycle using the new social media data. The aim of the article is to offer a holistic framework of interpretation of causes and circumstances of economic crises, using the tools of economy, semiotics, and economic anthropology that would account for both the universality of these crises and for their particular occurrences that always seem unique.
format	article
author	Alexandru (alec) BĂLĂŞESCU Apurv Jain
author_facet	Alexandru (alec) BĂLĂŞESCU Apurv Jain
author_sort	Alexandru (alec) BĂLĂŞESCU
title	Financial bubbles and their magic: asset price as a heroic journey in the financial markets
title_short	Financial bubbles and their magic: asset price as a heroic journey in the financial markets
title_full	Financial bubbles and their magic: asset price as a heroic journey in the financial markets
title_fullStr	Financial bubbles and their magic: asset price as a heroic journey in the financial markets
title_full_unstemmed	Financial bubbles and their magic: asset price as a heroic journey in the financial markets
title_sort	financial bubbles and their magic: asset price as a heroic journey in the financial markets
publisher	Editura ASE Bucuresti
publishDate	2018
url	https://doaj.org/article/977b78d30cf947ebb4d58d63ae48ae35
work_keys_str_mv	AT alexandrualecbalasescu financialbubblesandtheirmagicassetpriceasaheroicjourneyinthefinancialmarkets AT apurvjain financialbubblesandtheirmagicassetpriceasaheroicjourneyinthefinancialmarkets
_version_	1718399649701691392

Financial bubbles and their magic: asset price as a heroic journey in the financial markets

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