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reason for it to come back."
That was the summation of Robert C. Merton, one of three Nobel Prize-winning economists who joined intellectual forces on
October ... School of Management's three-day Future of Life Cycle Saving and Investing Conference. Merton, along
with Robert Solow and Paul Samuelson, took questions about the impending retirement savings crisis ... part on the public
television program.
"I believe this is a permanent decline," said Merton. "I do not think this is a liquidity event." He told the audience, which
included
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nature.
Dermas and Taleb actually wrote a a er together. in which they attack Merton.
Felix Salmon wrotes about the battle here:
Here's a recent interview with Derrnan:
EFTA00922906 ... boiling.
In finance or economics we have nothing like that. Even beautiful Black-Scholes-Merton ignores
volatility variations, illiquidity, panic, government regulations on shorting, to name just a few things
https://www.justice.gov/epstein/files/DataSet%209/EFTA00922906.pdf