Abstract
This article presents a hypothesis that the market cycles are primarily created by human actions, behavior and assumptions rather than by random variables. An analysis of main financial events over the last decade reveals that:
• Every one of these events has had a human touch.
• The current financial crisis is an aftermath of the excessive economic boom during this period.
• A new economy must emerge from human ingenuity and innovation.
Keywords: Enterprise Risk Management
Page
82-84
Year
2008
Categories
Actuarial Applications and Methodologies
Enterprise Risk Management
Publications
Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications
