Combining on-the-ground reporting, clear explanations of esoteric economic theories, and even a little crystal-ball gazing, Cassidy warns that in today's economic crisis, conforming to antiquated orthodoxies isn't just misguided--it's downright dangerous.
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Combining on-the-ground reporting, clear explanations of esoteric economic theories, and even a little crystal-ball gazing, Cassidy warns that in today's economic crisis, conforming to antiquated orthodoxies isn't just misguided--it's downright dangerous.
Read Less
Add this copy of How Markets Fail: The Logic of Economic Calamities to cart. $0.99, very good condition, Sold by Jenson Books Inc rated 4.0 out of 5 stars, ships from Logan, UT, UNITED STATES, published 2010 by Picador USA.
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Add this copy of How Markets Fail: the Logic of Economic Calamities to cart. $3.01, very good condition, Sold by ThriftBooks-Reno rated 5.0 out of 5 stars, ships from Reno, NV, UNITED STATES, published 2010 by St. Martin's Press.
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Borrowed it from the library and decided later I needed to have a copy always handy. A useful antidote to the free market fundamentalist idiocies that we keep being subjected to.
roaddog
Mar 4, 2010
Economic Id-eology
With wit and clarity, Cassidy provides a compressed history of economics beginning with Adam Smith and leading to the murky behavioral psychology that makes comprehensible the devastating suicidal plunge of bankers and brokers over the edge of reasonable risk. Wall Street emerges as the Id of the national psyche, driven by dark and irresistible forces, and regulation, our Superego, seems the only remedy for the passionate irrationality of which all of us -- financiers, consumers, politicians -- are guilty. Most instructively, Cassidy points to the fact that all markets are not the same or subsumable under the same theory. Economic behavior is, first of all behavior, not mathematics, and requires a more subtle and flexible understanding than classical economics or ideologies can provide.
