The Sorcerer’s Apprentices

James K. Galbraith

A chapter in Unbearable Cost, 2006, pp 162-164 from Palgrave Macmillan

Abstract: Abstract Once upon a time two professors — we can call them Scholes and Merton — got bored with their jobs. They were economists, theorists of finance. Brilliant and accomplished, they were celebrated, even renowned; each would win a Nobel Prize. But it wasn’t enough. Scholes and Merton wanted to be very, very rich.

Keywords: Federal Reserve; Hedge Fund; Bank Loan; Actual Leverage; Capital Management (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23672-1_47

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DOI: 10.1057/9780230236721_47

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