Fear in the Markets
Donald MacKenzie: The ways in which ‘finance theory’ becomes part of what it examines, 13 April 2000
“... focusing on the presence among LTCM’s partners of the 1997 Nobel laureates in economics, Robert C. Merton and Myron Scholes. The Horizon programme on the work of Merton and Scholes used the LTCM episode to create an exciting, but distorted and misleading, story. Even Dunbar’s generally informative book is marred by some gratuitous swipes at those ... ”