 Thoughts on risk ( pre-War) and the influence of logical positivismGuy Fraser-Sampson
Chapter Chapter 8 in The Pillars of Finance, 2014, pp 96-113 from Palgrave Macmillan Abstract: Abstract A study of the available literature on the nature of investment risk breaks down very neatly into two historical periods, the first before the Second World War, and the second after it. In fact the crucial breakpoint came, as mentioned earlier, in 1952 with the publication by Harry Markowitz of an article which has not only since achieved cult status within financial circles, but has been elevated by Finance World to the status of religious dogma. It is however apposite to talk of these periods being p re-War and post-War since, in the view of at least one influential writer, it was the experience of the Second World War which created a whole new zeitgeist within which the thinking behind Markowitz’s paper would take root and go on to flower. We will review both periods, and see that very different views about the nature of risk were expressed prior to the War from those which gained currency following it. Keywords: Private Equity; Austrian School; Philosophical Investigation; Gambling Casino; Private Equity Fund (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-26406-0_8 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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