Quants are the math wizards and computer programmers in the engine room of our global financial system, who designed the financial products that almost crashed Wall st. The credit crunch showed how the global financial system has become increasingly dependent on mathematical models trying to quantify human (economic) behavior. Now the quants are at the heart of yet another technological revolution in finance: trading at the speed of light.
What are the risks of treating the economy and its markets as a complex machine? Will Wall Street be able to keep control of this model-based financial system or has it created a monster?
In the aftermath of the worst financial crisis since the Great Depression, NOVA presents 'Mind Over Money' — a penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions.
The program reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance. In the face of the recent crash, can a new science that aims to incorporate human psychology into finance—behavioral economics—help us make better financial decisions?
First and foremost, this is not a documentary about communism. I do not like communism.
This documentary examines the ideological roots of the “austerity” agenda and proposes revolutionary paths out of the current crisis. It explains the nature of capitalist crises, visits the protests against austerity measures and recommends revolutionary paths for the future.
Special attention is devoted to the crisis in Greece, the 2010 G20 Summit protest in Toronto, Canada and the remarkable surge of solidarity in Madison, Wisconsin.