This post is opinion only. See full disclaimer below. Abstract The Macro-political Captured Assets Hypothesis (MCAH) argues that the Efficient Market Hypothesis (EMH) theoretically fails to consider the potential role of anonymous and illicit capital in the pricing of assets and that further research is needed using the small-n comparative method pioneered by scholars such … Continue reading The Institutionalization of Transparency: Dismantling the Shadow Economy to Restore Market Integrity
Category: illicit capital
What a Luxury‑Goods Loophole Reveals About the Limits of Market Theory
This post is opinion only. See full disclaimer below. The Limitations of EMH for Markets In my broader Macro-political Captured Assets Hypothesis (MCAH) model I have argued that the current EMH model is radically incomplete because it overlooks such crucial things as political power capture and huge flows of illicit capital around the world. Financial … Continue reading What a Luxury‑Goods Loophole Reveals About the Limits of Market Theory