Mention Books During How Markets Fail: The Logic of Economic Calamities

Original Title: How Markets Fail: The Economics of Rational Irrationality
ISBN: 0312430043 (ISBN13: 9780312430047)
Edition Language: English URL http://us.macmillan.com/howmarketsfail
Literary Awards: Pulitzer Prize Nominee for General Nonfiction (2010), Financial Times and McKinsey Business Book of the Year Nominee for Longlist (2010)
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How Markets Fail: The Logic of Economic Calamities Paperback | Pages: 416 pages
Rating: 4.05 | 2352 Users | 161 Reviews

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For fifty years, economists have been developing elegant theories or how markets facilitate innovation, create wealth, and allocate society's resources efficiently. But what about when they fail, when they lead us to stock market bubbles, glaring inequality, polluted rivers, and credit crunches? In How Markets Fail, John Cassidy describes the rising influence of "utopian economies"—the thinking that is blind to how real people act and that denies the many ways an unregulated free market can bring on disaster. Combining on-the-ground reporting and clear explanations of economic theories Cassidy warns that in today's economic crisis, following old orthodoxies isn't just misguided—it's downright dangerous.

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Title:How Markets Fail: The Logic of Economic Calamities
Author:John Cassidy
Book Format:Paperback
Book Edition:First Edition
Pages:Pages: 416 pages
Published:November 23rd 2010 by Picador (first published November 10th 2009)
Categories:Economics. Nonfiction. Finance. Business. History. Politics

Rating About Books How Markets Fail: The Logic of Economic Calamities
Ratings: 4.05 From 2352 Users | 161 Reviews

Assessment About Books How Markets Fail: The Logic of Economic Calamities
How Markets Fail is really two books in one: the first half is a solid comprehensive tour of macroeconomic theory from Adam Smith through Alan Greenspan (including game theory!); the second half is a subpar account of the making of the Great Recession. If you want to learn what happened in the Great Recession, skip this book. I've never bothered to learn much if any Economics, so I learned a lot from the first section. Honestly, with everything I've read, it's hard not to think that Economics as

This is another excellent addition to a library of very good books that came about after the official end of free-market capitalism on 9/18/08.The mathematics of economics are the most surprising part at the beginning of this book, and you get the sense that John Cassidy introduces them to show he's serious; he's read the texts, he's examined the models; he has a much better grasp on the subject than the average CNBC viewer.His basic thesis is that the last 30 of years economics have been a

What a great read this has been for me. Some chapters are more interesting than others for me, but this book has changed how I view economics and increased my interest in the subject. Highly recommended.

The book starts by introducing the history of economic thoughts. Several names were referred to explain the journey of the economic thought we have today. In the beginning, it was easy to keep tab of the relation between the thoughts and names. With each turn of the page though, it becomes harder and harder.Once one has passed the thick jungle of names and ideas, the book starts to explain the flaws in the current thoughts in economy. This includes introducing the famous game theory, and terms

This is a timely, lucid, well-structured and well-argued book, perhaps the best of the half-dozen or so economically- and financially-themed tomes that I have read over the past several months. Cassidy, by structuring his work into three distinct parts, opted for what, in my opinion, served best to channel the disparate and historically deep, but quite relevantly interrelated, streams of analysis he has undertaken within. The crux of the entirety is the economic crisis of 2008, an example of

While the book gives a broad history of economic thought and of the 2018 financial crisis, it is not without serious flaws. Personally, I also take issues with many elements of the efficient market theory, rational expectations, and general equilibrium theory (what the author termed "utopian economics"), but those are not the sole justifications for the free market. Most capitalists I know (many are investors and entrepreneurs) recognizes that the market is not always efficient. Stock market

The next time a tea-partier friend of yours claims that the current financial mess was caused by ACORN, Jimmy Carter, and Fannie Mae, direct them to this book. Not that the Community Reinvestment Act had NO impact on the real estate bubble, but it was minor compared to other factors. The first two sections of the book present very understandable economic theories from the "classics" (Adam Smith) through Milton Friedman, and then on to the skeptics of the dominant free market economic paradigm.