On Jul 29, 2012, at 1:18 PM, Michael Nuwer wrote: > But... Do you think that the models were the "engine" of the change, as > the book title suggests? The development of Taylorism was an important > element in the transformation of 20th century manufacturing, but it was, > I would argue, a response to the needs of capital at that time. If > capital after 1970 had different needs than they in fact had, then maybe > these models would have been ignored(?)
We're debating chickens & eggs here to some extent, but in the early days of stock index futures no one knew how to price them and trading was slow. As theoretical pricing models developed, so did trading. Doug _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
