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What the Market Teaches Us – Limitations of Knowing and Tactics for Doing - Oxford Scholarship Online
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What the Market Teaches Us: Limitations of Knowing and Tactics for Doing

Charles Smith


The “market” teaches us that it cannot be predicted or fully understood. It also teaches us the limitations of what we know and the inevitability of unexpected things happening. It not only reveals these conundrums, but presents us with examples of the ways we attempt to cope with them, and why these efforts nearly always fail. It reveals that most explanatory accounts that attempt to “make sense” of the “fickleness” of the market are not intended to eliminate ambiguities and paradoxes, but rather to calm and conciliate us. Most routines function in a similar way. While these various teachings ... More

Keywords: financial markets, predictability, limitations of knowing, making sense, acting sensibly, trading, contingencies, ambiguities, accounts, routines

Bibliographic Information

Print publication date: 2015 Print ISBN-13: 9780198745112
Published to Oxford Scholarship Online: September 2015 DOI:10.1093/acprof:oso/9780198745112.001.0001


Affiliations are at time of print publication.

Charles Smith, author
Professor Emeritus, Queens College and Graduate Center, CUNY