A book every economist should read,
Verifizierter Kauf(Was ist das?)
Rezension bezieht sich auf: (Mis) Behaviour of Markets: A Fractal View of Risk, Ruin and Reward (Taschenbuch)
B. Mandelbrot tears down the whole house of classic economy, showing how it stands on wrong fundaments.
Then goes on suggesting alternative foundations. I do hope someone is working on building an alternative edifice on this basis.
There's a prophetic passage at some point: when describing how the random variables in economic are far from memoryless, an old trader who lived through Black Friday and the Great Depression is quoted saying that once his generation will be gone, the caution they had will also disappear from Wall Street.
This was written well before 2008.