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NOVA: Mind Over Money (2010)

NOVA: Mind Over Money (2010)
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As devastating as the global financial meltdown of 2007-9 was, it actually stunned the vast majority of people, including those generally regarded as financial wizards. Curiously, these individuals not only failed to predict the depression, but long argued that such a calamity was next to impossible. Their arguments rested on axioms central to classical economics, including the notions that investors generally act reasonably and tend to act on the basis of their own self-interest. The problem with this logic is that such rules no longer apply in extreme situations amid great panic. The episode of the classic PBS documentary series Nova entitled Mind Over Money draws on interviews with fiscal experts and scientific experiments tied to money to investigate the great leap forward in economic understanding engendered by the said meltdown. ~ Nathan Southern, Rovi

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Director(s):
Malcolm Clark
Format(s):
DVD
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Synopsis of NOVA: Mind Over Money

As devastating as the global financial meltdown of 2007-9 was, it actually stunned the vast majority of people, including those generally regarded as financial wizards. Curiously, these individuals not only failed to predict the depression, but long argued that such a calamity was next to impossible. Their arguments rested on axioms central to classical economics, including the notions that investors generally act reasonably and tend to act on the basis of their own self-interest. The problem with this logic is that such rules no longer apply in extreme situations amid great panic. The episode of the classic PBS documentary series Nova entitled Mind Over Money draws on interviews with fiscal experts and scientific experiments tied to money to investigate the great leap forward in economic understanding engendered by the said meltdown. ~ Nathan Southern, Rovi

Theatrical Feature Running Time:
56 mins
Director(s):
Malcolm Clark
Writer(s):
Malcolm Clark
Producer(s):
David AdlerMalcolm Clark
Categories:
Documentary
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    Sonya F.

    Fascinating! The show tells clearly how the market collapsed and why financial experts didn't see it coming. They relied more on accepted academic risk analysis than human factors, such as one-ups-manship, to ante-up, to gain as much as possible as fast as possible, not to be losers, and how this forms "the classic bubble".on a graph, the up-slope, curve and deep dip down. They also explained derivatives - insurance against loss - and how this got big banks deeply involved giving out very risky loans.

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    Chris D.

    outstanding. Great education on speculative bubbles, relevant from how Dutch Tulips crashed the European Economy to the Gun Buying Panic of 2013. A must see for understanding why people buy things for more than they are worth, and the inevitable consequences to the market as a whole.

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