Roman Frydman and Michael D. Goldberg’s bookBeyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State is a finalist for the 2011 TIAA-CREF Paul A. Samuelson Award. This award is named after Nobel Prize winner Paul A. Samuelson in honor of his achievements in the field of economics, as well as for his service as a CREF trustee from 1974-1985. The Samuelson Award is given annually in recognition of an outstanding research publication containing ideas that the public and private sectors can use to maintain and improve America’s lifelong financial well being.
The book was also a Financial Times (FT.com) non-fiction favourite of 2011, and was reviewed by the FT’s John Authers:
“The debate over how to re-regulate [markets and banks] to avoid another financial crisis is urgent and it cannot conclude without resolving the problem that economics’ most basic assumption is flawed. [Beyond Mechanical Markets is one] of the most interesting contributions [to] find a new way to model markets.”