Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
Shiller hammered away on this point in the ‘80s, and in fact Fama also published some of the same observations. Instead what he says is let’s have financial innovation that is actually helpful. The capital asset pricing model was supposed to allow companies to calculate their cost of capital in a consistent way.
8 
Let's personalize your content