{"title":"Books by David Orrell","description":null,"products":[{"product_id":"9781119358619","title":"The Money Formula","description":"Explore the deadly elegance of finance's hidden powerhouse The Money Formula takes you inside the engine room of the global economy to explore the little-understood world of quantitative finance, and show how the future of our economy rests on the backs of this all-but-impenetrable industry. Written not from a post-crisis perspective – but from a preventative point of view – this book traces the development of financial derivatives from bonds to credit default swaps, and shows how mathematical formulas went beyond pricing to expand their use to the point where they dwarfed the real economy. You'll learn how the deadly allure of their ice-cold beauty has misled generations of economists and investors, and how continued reliance on these formulas can either assist future economic development, or send the global economy into the financial equivalent of a cardiac arrest. Rather than rehash tales of post-crisis fallout, this book focuses on preventing the next one. By exploring the heart of the shadow economy, you'll be better prepared to ride the rough waves of finance into the turbulent future. Delve into one of the world's least-understood but highest-impact industriesUnderstand the key principles of quantitative finance and the evolution of the fieldLearn what quantitative finance has become, and how it affects us allDiscover how the industry's next steps dictate the economy's future How do you create a quadrillion dollars out of nothing, blow it away and leave a hole so large that even years of \"quantitative easing\" can't fill it – and then go back to doing the same thing? Even amidst global recovery, the financial system still has the potential to seize up at any moment. The Money Formula explores the how and why of financial disaster, what must happen to prevent the next one.","brand":"Gardners","offers":[{"title":"Default Title","offer_id":56296547090805,"sku":"9781119358619","price":24.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781119358619_db2f0462-0e98-4b30-9b85-5ce34486f474.jpg?v=1786018529"},{"product_id":"9781785786440","title":"Behavioural Economics","description":"The controversial science that claims to have revolutionised economics.For centuries, economics was dominated by the idea that we are rational individuals who optimise our own 'utility'. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don't really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational we are prone to 'cognitive biases' with complex effects on decision-making, such as forgetting to prepare for retirement. David Orrell explores the findings from psychology and neuroscience that are shaking up economics - and that are being exploited by policy-makers and marketers alike, to shape everything from how we shop for food, to how we tackle societal happiness or climate change. Finally, he asks: is behavioural economics a scientific revolution, or just a scientific form of marketing?","brand":"Gardners","offers":[{"title":"Default Title","offer_id":56305233101173,"sku":"9781785786440","price":10.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781785786440_7ff4f3a8-2492-4bf7-8cfc-715eebe0fdac.jpg?v=1786025686"},{"product_id":"9781787394452","title":"A Brief History of Money","description":"What do cacao beans, cowrie shells, paper cards, cigarettes and digital databases all have in common? At some time, they have been used as a form of money. Money is an essential aspect of everyday life and something that we usually take for granted until it all goes wrong. This book traces the role, growth and impact of money and finance on individuals, human civilisation and the type of economy we live in. The financial history of the world reads like a fascinating novel with innumerable twists and turns. We strive for financial stability and security, yet this often proves surprisingly ephemeral. Just as we hope we have reached a new plateau of prosperity, the financial system has a habit of throwing a spanner in the works, forcing us to change and adapt to new circumstances. This book traces the financial system from its birth as a credit system in ancient Mesopotamia, to the financial revolutions of the 20th and 21st centuries. This is the story of money, finance and economics but also its interaction with people, governments and society. Why did the American forces desperately try to destroy money during the American Revolution? Why do we tend to succumb to boom and busts? And if inflation is bad, why is deflation even worse? Also, the book looks at the effect money has on ourselves. Does money make us irrational? Is money really the root of all evil, or should we celebrate money for its potential to create prosperity and overcome poverty?","brand":"Gardners","offers":[{"title":"Default Title","offer_id":56305698799989,"sku":"9781787394452","price":20.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781787394452_32b0e37e-65c2-4a1d-9c45-a38092d88681.jpg?v=1786026150"},{"product_id":"9781848312159","title":"Introducing Economics","description":"\u003cp\u003eA comic-book introduction to economics from David Orrell, the author of Economyths: 11 Ways Economics Gets it Wrong.\u003c\/p\u003e\u003cp\u003eWith illustrations from Borin Van Loon.\u003c\/p\u003e\u003cp\u003ePart of the internationally-recognised Introducing Graphic Guide series.\u003c\/p\u003e\u003cp\u003eToday, it seems, all things are measured by economists. The so-called 'dismal science' has never been more popular - or, given its failure to predict or prevent the recent financial crisis, more controversial. But what are the findings of economics? Is it really a science? And how can it help our lives?\u003c\/p\u003e\u003cp\u003eIntroducing Economics traces the history of the subject from the ancient Greeks to the present day. Orrell and Van Loon bring to life the contributions of great economists - such as Adam Smith, Karl Marx, John Maynard Keynes and Milton Friedman - and delve into ideas from new areas such as ecological and complexity economics that are revolutionizing the field.\u003c\/p\u003e","brand":"Gardners","offers":[{"title":"Default Title","offer_id":56307957760373,"sku":"9781848312159","price":8.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781848312159_23fb5016-fa1c-4d67-ace4-2da95638e490.jpg?v=1786029145"},{"product_id":"instant-economics","title":"Instant Economics","description":"Instant Economics pulls together all the pivotal economic knowledge and thought into one concise volume. Each page contains a discrete 'cheat sheet', which tells you the most important facts in bite-sized chunks, meaning you can become an expert in an instant. From Adam Smith to Karl Marx, taxation to debt crisis, and inequality to economic freedom, every key figure, discovery, controversy and concept is explained with succinct and lively text and graphics. Perfect for the knowledge hungry and time poor, this collection of graphic-led lessons makes economics interesting and accessible. Everything you need to know is here.","brand":"Gardners","offers":[{"title":"Default Title","offer_id":57487771009397,"sku":"9781787394193","price":16.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9781787394193.jpg?v=1786354996"},{"product_id":"the-quantum-stock-market","title":"The Quantum Stock Market","description":"\u003cb\u003eA new paradigm based on quantum probability that can model stock markets and price options—and also upends classical quantitative finance.\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eIn \u003ci\u003eThe Quantum Stock Market\u003c\/i\u003e, David Orrell combines theory and new empirical findings to argue for a new approach to finance based on quantum probability. The main finding, a property called q-variance, may be unique in finance in that it was discovered as the result of a prediction, affects financial markets in general, has no tunable parameter, and has important consequences for a range of topics including the pricing of financial options. The property, which somehow eluded detection for over a century, has been verified by experts in the field. And the fact that it is incompatible with classical finance—which is perhaps why it went undetected—suggests that the field must be reinvented.\u003cbr\u003e\u003cbr\u003eOrrell argues for nothing less than a paradigm shift in finance. As with any new work that challenges existing methods the ideas have already received pushback, from leaders in the field of finance to physicists skeptical of applying quantum probability outside its traditional domain. Written in an interdisciplinary style that mixes mathematical equations, data analysis, and informed comments on the field of finance, \u003ci\u003eThe Quantum Stock Market \u003c\/i\u003eshould be read by anyone who wants to be on the right side of a paradigm shift.","brand":"Gardners","offers":[{"title":"Default Title","offer_id":57499245347189,"sku":"9780262055987","price":43.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0612\/7193\/3106\/files\/9780262055987.jpg?v=1786694563"}],"url":"https:\/\/backstory.london\/collections\/author-david-orrell.oembed","provider":"Backstory","version":"1.0","type":"link"}