The Economics of Uncertainty cover art

The Economics of Uncertainty

Preview

Free with 30-day trial
Prime logo New to Audible Prime Member exclusive:
2 credits with free trial
1 credit a month to use on any title to download and keep
Listen to anything from the Plus Catalogue—thousands of Audible Originals, podcasts and audiobooks
Download titles to your library and listen offline
₹199 per month after 30-day trial. Cancel anytime.

The Economics of Uncertainty

Written by: Connel Fullenkamp, The Great Courses
Narrated by: Connel Fullenkamp
Free with 30-day trial

₹199 per month after trial ends. Cancel anytime.

Buy Now for ₹1,171.00

Buy Now for ₹1,171.00

Confirm Purchase
Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice.
Cancel

About this listen

Economies are deeply complex systems. The marketplace involves many economic actors behaving in rational and irrational ways, sustaining a dizzying array of interconnected activity. Because of the number of participants involved, the unpredictability of their actions, and the sheer variety of possible actions, some degree of economic uncertainty is inevitable.

In one of the most dramatic displays of economic uncertainty in our times, a wave of toxic loans almost brought down the American financial system in 2008-2009, and with it jobs and savings. Few experts forecast this catastrophe, which stands as a lesson in the power of economic forces to defy our predictions. This event may have been exceptional, but every day we are all at the mercy of economic uncertainty in matters such as the stock market, insurance, and career and retirement planning.

Uncertainty also plagues us in smaller ways. For example, everyone is familiar with rising prices, but the Internet now makes it possible for online shoppers to be charged more based on their buying history, adding a new level of unpredictability to pricing. And anytime you hire someone for a service - from roofing to dentistry - you face the principal-agent problem, in which the person hired may take unethical advantage of your lack of expertise.

Indeed, these large and small risks are so pervasive that it is all too easy to conclude that nothing can be done. But economic uncertainty is like the weather: You can't stop storms from happening, but understanding how and why they happen allows you to be prepared. In the same way, economic uncertainty is beyond our control, but we're in a much better position to respond if we know what's happening and why.

In 24 practical and empowering half-hour lectures, The Economics of Uncertainty takes the mystery and dread out of uncertainty, giving you the tools to deal with risk in every phase of your life.

©2015 The Great Courses (P)2015 The Teaching Company, LLC
Personal Finance

What listeners say about The Economics of Uncertainty

Average Customer Ratings
Overall
  • 5 out of 5 stars
  • 5 Stars
    3
  • 4 Stars
    1
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    2
  • 4 Stars
    1
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0
Story
  • 4.5 out of 5 stars
  • 5 Stars
    2
  • 4 Stars
    1
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Reviews - Please select the tabs below to change the source of reviews.

Sort by:
Filter by:
  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    4 out of 5 stars

Great lectures on the economics of uncertainty

I thoroughly enjoyed these lectures. The instructor has not only done a great job of simplifying the key concepts, but he has also explained them with superb narration. Thanks!

Something went wrong. Please try again in a few minutes.

You voted on this review!

You reported this review!