History of economic thought its critics. Socialism emerged in response to the miserable living and working conditions of the working class in the new industrial era, and the classical economics from which it sprang. The economic and political theory published in "The Communist Manifesto" (1848) and "Das Kapital" (1867) combined with the dialectic theory of history inspired by Friedrich Hegel (1770–1831) to provide a revolutionary critique of nineteenth-century capitalism. In 1845 German radical Friedrich Engels (1820–1895) published "The Condition of the Working Class in England in 1844", describing workers in Manchester as "the most unconcealed pinnacle of social misery in our day." After Marx
Financial Modelers' Manifesto Financial Modelers' Manifesto The Financial Modelers' Manifesto was a proposal for more responsibility in risk management and quantitative finance written by financial engineers Emanuel Derman and Paul Wilmott. The manifesto includes a Modelers' Hippocratic Oath. The structure of the Financial Modelers' Manifesto mirrors that of "The Communist Manifesto" of 1848. The Manifesto and Oath were written in response to the Financial crisis of 2007–2010 with the collapse of subprime mortgages. A shortened version was published in Business Week in December 2008 with the complete version appearing shortly afterwards; the full text is available here. Note that both authors had written