How Markets Fail: The Logic of Economic Calamities

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Penguin, 2010 - Banks and banking - 409 pages
20 Reviews
'Highly readable'  THE TIMES
'Essential ... compelling'  EVENING STANDARD
How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational.  He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking.
'A well constructed, thoughtful and cogent account of how capitalism evolved to its current form'  DAILY TELEGRAPH
'An ambitious, nuanced work that brings ideas alive'  BUSINESS WEEK
'Like Malcolm Gladwell, Cassidy is able to lead us with beguiling lucidity through unfamiliar territory'  NEW STATESMAN
'Cassidy's book is to be strongly applauded. Not just because it is highly readable but, most importantly, because it tries to paint a more subtle picture at a time when too many people are still seeking villains to blame'  FINANCIAL TIMES

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Review: How Markets Fail: The Logic of Economic Calamities

User Review  - Prasanna - Goodreads

I started reading this a while back as an audiobook almost on a whim on a particularly bad traffic day on I-90. I'm finally done and I think I got what I was expecting to get out of the book. Perhaps ... Read full review

Review: How Markets Fail: The Logic of Economic Calamities

User Review  - Andy - Goodreads

If you know nothing at all about economics or the 2008 crash, then you will get a lot of useful information out of this book. I found it to be very tedious. Establishing that classical economics ... Read full review

About the author (2010)

John Cassidy has covered economics and finance at The New Yorker magazine since 1995, writing on topics ranging from Alan Greenspan to the Iraqi oil industry and English journalism. He is also now a Contributing Editor at Portfolio where he writes the monthly Economics column. Two of his articles have been nominated for National Magazine Awards: an essay on Karl Marx, which appeared in October, 1997, and an account of the death of the British weapons scientist David Kelly, which was published in December, 2003. He has previously written for Sunday Times in as well as the New York Post, where he edited the Business section and then served as the deputy editor. In 2002, Cassidy published his first book, Dot.Con. He lives in New York.

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