Epstein Secrets

e y-axis shows the number of people in each wage band. As can be seen this shape has a large bulge tow

nomists. These ideas include recent research in market microstructure, liquidity, post-Keynesian pricing theory as well as the work of Foley, Keen, Smithers, Shiller, Cooper, Pettis, Pepper & Oliver, Mehrling, Lyons and others. Neoclassical economics, while forming an intellectually beautiful framework,

e 7.2.1. below. Figure 7.2.1 here So one narrow band of similar distribution results becomes so likely

classical economics becomes a much more powerful theoretical method than neoclassicism. The economic historians such as Reinhart & Rogoff, Shiller, Smithers, Harrison, Napier and Bernholz have the advantage of the long sweep of history to prevent them from accepting high- faluting theory that disagrees w

0 200 400 600 800 1000 1200 1400 Income Band Figure 1.1.2 - UK Income Data 20021 • • • 200

model. This then becomes much more significant at the level of the whole stockmarket, especially in the light of the extensive work by Shiller and Smithers regarding the long-term valuation of stock markets. This work is very well summed up in 'Wall Street Revalued' [Smithers 2009]. The central thesis