Finance and Philosophy: Why We’re Always Surprised

Event Markets and Finance
Event Markets and Finance

November 14, 2018 Finance and Philosophy: Why We’re Always Surprised

~ Books will be available for purchase and to be signed by the Author. ~

Reception Following

Wednesday, Nov 14, 2018

5:00 pm - 6:00 pm

The Heritage Foundation

214 Massachusetts Ave NE
Washington, DC

Featuring Author

Alex Pollock

Alex J. Pollock is a distinguished senior fellow at the R Street Institute in Washington, DC. Mr. Pollock focuses on financial policy issues, including financial cycles, housing finance, banking systems, central banking, government-sponsored enterprises, uncertainty and risk, retirement finance, corporate governance, and financial crises with their ensuing political responses. He is the author of Boom and Bust: Financial Cycles and Human Prosperity, as well as numerous articles and Congressional testimony.


Finance and Philosophy provides a concise and witty account of how bankers and financial regulators think, of the alleged causes of the cycles of booms and busts, of the implicit and often un-thought-out assumptions shaping retirement finance, fiat money, corporate governance. Pollock deftly shows how poorly bankers have measured the risk their banks have been exposed to. With candor and clarity, he uncovers the persistent and unavoidable uncertainty inherent in the business of banking. We learn that a banker’s confidence in his ability to measure banking risk accurately is the lure which has repeatedly led to bank failures. Pollock has a modest and compelling suggestion: Acknowledge the unavoidability of ignorance with respect to financial risk, and, in the light of this ignorance of the future, act moderately.

"Pollock tells us all we need to know about money and banking, risk and uncertainty, debt and temptation, and science and economics. He delights as he instructs.” - James Grant, founder and editor, Grant’s Interest Rate Observer