How Markets Fail: The Logic of Economic Calamities

From Strand Bookstore

John Cassidy describes the rising influence of what he calls utopian economics - thinking that is blind to how real people act and that denies the many ways an unregulated free market can produce disastrous unintended consequences. He subsequently looks to the leading edge of economic theory, including behavioral economics, to offer a new understanding of the economy - one that casts aside the old assumption that people and firms make decisions purely onthe basis of rational self-interest. With the global financial crisis & the Great Recession as his starting point, Cassidy explores a world that connects everybody, in which social contagion is the norm; a dangerous & irrational world.

From the Publisher

A critical assessment of the economic orthodoxies that the author credits with the current global financial crisis examines the rapidly growing field of behavioral economics to identify the interconnectedness of the world and how it gives way to price spikes and boom-and-bust cycles. 50,000 first printing.

From the Publisher

A critical assessment of the economic orthodoxies that the author credits with the current global financial crisis examines the rapidly growing field of behavioral economics to identify the interconnectedness of the world and how it gives way to price spikes and boom-and-bust cycles. 50,000 first printing.