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Abstract: This essay suggests that a proper assessment of the presently unfoldingfinancial crisis, and its cure, requires going back at least to the late 1990s,accounting for the cumulative effect of the ITC, real-estate and financialderivative bubbles. We focus on the deep loss of trust, not only in WallStreet, but more importantly in Main Street, and how to recover it on the shortand long terms. A multi-disciplinary approach is needed to deal with thenonlinear complex systems of the present world, in order to develop a cultureof fairness, and of upside opportunities associated with a risky world.



Autor: D. Sornette

Fuente: https://arxiv.org/







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