Scientific and mathematical pioneers employed bold thinking to embark on a remarkable adventure of intellectual discovery. Bernstein, an economic consultant, describes in "Against the Gods" how the rational process of risk taking propelled the process of science and enterprise into the modern world of speed, power, instant communication, and ...
Scientific and mathematical pioneers employed bold thinking to embark on a remarkable adventure of intellectual discovery. Bernstein, an economic consultant, describes in "Against the Gods" how the rational process of risk taking propelled the process of science and enterprise into the modern world of speed, power, instant communication, and sophisticated finance.
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This book was recommended by a friend and I can't thank him enough for sharing this find. This book was an amazing insight into how people thought about risk going back several hundred years. To me, those times were tough to live in, so to spend time delving into abstract numbers and sequences and trying to figure out a formula for predicting events, was to say the least, unbelievable. Peter Bernstein has a tremendous grasp of the subject he writes about. I'm sure you'll finish this book with a new picture of what has gone on for all these years.
Publishers Weekly, 1996-09-09 Risk management, which assumes that future risks can be understood, measured and to some extent predicted, is the focus of this solid, thoroughgoing history. Probability theory, pioneered by 17th-century French mathematicians Blaise Pascal and Pierre de Fermat, has made possible the design of great bridges, electric power utilities and insurance policies. The statistical sampling methods invented by dour Swiss scientist Jacob Bernoulli undergird diverse activities such as the testing of new drugs, stock-picking and wine tasting. Bernstein (Capital Ideas) animates his narrative with a colorful cast of risk-analyzers, including gambling addict Girolamo Cardano, 16th-century Italian physician to the Pope; and John Maynard Keynes, whose concerns over economic uncertainty compelled him to recommend an active, interventionist role for government. Bernstein also traces the development of business forecasting, game theory, insurance and derivatives, and surveys recent advances in risk forecasting made possible through chaos theory and by the development of neural networks. (Oct.) (c) Copyright PWxyz, LLC. All rights reserved
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