ABSTRACT

Nowadays, markets—particularly of the financial and globalized kind—are struggling with their reputation. The continued stagnation of the world’s economy since the U.S. subprime crisis and the associated productivity shock through the eurozone is still far from over. As discussed in Chapter 1, the deep impacts and unresolved structural threats of the economic establishment over the quality of life of most people are prompting calls for an unprecedented revision of the scientific and institutional soundness of the world’s economic and financial system. Central to this revision are the long-held assumptions of rationality and self-regulation capacity of markets.