by Summary:
Guessing games. How can the stock market break new records amid recent worst crisis? Is the financial world even connected to the real world? 'We're suffering the biggest macroeconomic shock since the 1930s and the stock market is fine. It makes absolutely no sense unless we see that the market is not connected to the real economy where people are," says Mark Blyth, professor of international political economy at Brown University in the US. Blyth thinks the trajectory in stock markets is absurd when you step back and see it from a distance. A highly respected scholar who has studied crisis politics and economic ideas for the past 25 years, he has just published the book Angrynomics, in which he, along with his co-author, examines why many seem so angry these years. Part of the
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Guessing games. How can the stock market break new records amid recent worst crisis? Is the financial world even connected to the real world? 'We're suffering the biggest macroeconomic shock since the 1930s and the stock market is fine. It makes absolutely no sense unless we see that the market is not connected to the real economy where people are," says Mark Blyth, professor of international political economy at Brown University in the US. Blyth thinks the trajectory in stock markets is absurd when you step back and see it from a distance. A highly respected scholar who has studied crisis politics and economic ideas for the past 25 years, he has just published the book Angrynomics, in which he, along with his co-author, examines why many seem so angry these years. Part of the
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Mike Norman considers the following as important:
This could be interesting, too:
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Guessing games. How can the stock market break new records amid recent worst crisis? Is the financial world even connected to the real world?
'We're suffering the biggest macroeconomic shock since the 1930s and the stock market is fine. It makes absolutely no sense unless we see that the market is not connected to the real economy where people are," says Mark Blyth, professor of international political economy at Brown University in the US.
Blyth thinks the trajectory in stock markets is absurd when you step back and see it from a distance. A highly respected scholar who has studied crisis politics and economic ideas for the past 25 years, he has just published the book Angrynomics, in which he, along with his co-author, examines why many seem so angry these years.
Part of the explanation is found in the gap that has grown larger and larger between the financial economy and the rest of society. In his view, the only way to understand how the stock market can peak while the economy scrapes the bottom is that we have created two distinct economies, two parallel worlds:
'There's an economy with rich institutions and wealthy people who buy, sell and make a living from the gains from wealth, and then there's it for everyone else with ordinary wages. The financial economy has been separated from the real one.'