Mount Moran in Grand Teton National Park seen through a window at the Jackson Hole economic symposium in Wyoming. Photograph: Bloomberg

The annual August summits of the world’s top central bankers in Jackson Hole, Wyoming, have a dramatic mountain backdrop, but the conference titles ar(...)

US President Barack Obama appointed a special, bipartisan commission to propose solutions to the alleged crisis, and spent much of his first term trying to negotiate a Grand Bargain on the budget with Republicans. Photograph: Bloomberg

For much of the past five years readers of political and economic news were left in little doubt that budget deficits and rising debt were the most i(...)

Jeremy Grantham’s GMO has been warning for some time that US investors face subdued long-term returns due to elevated prices. Valuation warning signal(...)

 Alex Ferguson and David Moyes: Ferguson’s “hairdryer treatment” became the stuff of legend, whereas Moyes’s interest in management theory was seen by some as a sign of weakness rather than evidence of an inquiring mind. Photograph: Anna Gowthorpe/PA

The most poignant detail in the fall of David Moyes concerned his reading matter on the flight back home from his team’s Champions League defea(...)

Alan Greenspan: “He now professes a humility not, perhaps, evident in his pronouncements as chairman of the Fed.” Photograph: Reuters/Kevin Lamarque

In his recently published book, Alan Greenspan argues that the economist’s assumption of rationality is inadequate to describe human behaviour,(...)

US Federal Reserve chairman Ben Bernanke: signalled likely slowing of asset purchases. Photograph: Alex Wong/Getty Images

The United States Federal Reserve plans to “proceed cautiously” in slowing its asset purchases as the minutes of its December meeting put a dovish spi(...)

NYSE traders: the positive behavioural reaction to a positive event is markedly less than the negative behavioural reaction to an equivalent negative event, hence markets tend to overreact. photograph: brendan mcdermid/reuters

The interest of economists, policy-makers and investors in the behavioural biases of the human mind has been intensifying in recent years.Since the on(...)

Alan Greenspan, former Federal Reserve chairman,  said the stock market is not in a bubble, even as the Dow Jones Industrial Average breached 16,000 and the Standard & Poor’s 500 has climbed above 1,800, leaving both measures at record levels. Photographer: Andrew Harrer/Bloomberg

Former US Federal Reserve chairman Alan Greenspan said the US economy probably will grow more slowly next year than some forecasters predict and indic(...)

Nobel Prize winner Eugene Fama
Stocktake

Renowned value investor Jeremy Grantham has harsh words for Alan Greenspan, Ben Bernanke and incoming Federal Reserve chief Janet Yellen in his latest(...)

Picking stocks: investors have reason to be grateful to devotees of the efficient market hypothesis and behavioural finance.  photograph: andrew burton/getty images

Are markets efficient, or are investor actions governed by animal instincts? Is it pointless trying to beat the market, or are stocks prone to systema(...)