Now there is still a big problem, in my opinion.

When the crisis came, the serious limitations of existing economic and financial models immediately became apparent.

He's a financial analyst with a pretty good reputation for his analysis of economic trends.

Microeconomics .. and those actors could be firms, could be people, it could be households.

And macro economics is probably more guilty of it.

Economic games. So what we do is we go into two areas.

Econometrics package

Von Mises, interestingly, believes economics is just a subset of psychology.

The topics range from math

The financialization of the economy has been in a dramatic change in the last roughly 30 years.

a latticework on which to hang your ideas.

The economy still hasn't completely recovered from the financial crisis.

Economics is the study of economic mechanisms.

It has value because people agree that it has value.

The bottom of the pyramid is benefiting hugely from technology.

What about religion, poverty, economics...?

And one of the problems that we face, I think, is that the only people that have cornered the market in terms of progress is a financial definition of what progress is, an economic definition of what progress is that somehow, if we get the right numbers to go up, we're going to be better off, whether that's on the stock market, whether that's with GDP and economic growth, that somehow life is going to get better.

He studied economics at college.

We can see that we can take this equation and it can apply to things in economics, or it can apply to things in finance or it can apply to things in computer science or logic or electrical engineering or anything accounting

And it's clearly in the area of finance.

They really cared about their monkey token dollar.

Make a decision and give me some blood.

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

COuld lead to more wealth, more, a larger pie for everyone.

We have this view of ourselves, of others.

But this does not apply the other way around.

Westerners own two thirds of its wealth.

Here's another one.

My employer an economist.

Here's a guy you all need to study.

That's the problem that I'm trying to solve.

So this is exactly what I did.

He is a great authority on economics.

He is a great authority on economics.

Instead, what we saw is a lot of people who cheat a little bit.

Regardless of the outcome, the pure act of anticipation makes us happy.

And they see a 20 bill.

And we call that M1.

Great.

The laws of nature are written in the language of calculus.

And actually in the period through which we've been working over the last 18 years partly because of the financial crisis and a little bit of humility in the profession of economics actually people are engaging in this issue in all sorts of countries around the world.

What I would like to see is idealism decoupled from all constraints.

Well there's a couple of ways to do it.

And how does that .. does that affect prices and markets, and whatever else.

So, this whole area is so fascinating.