How Markets Fail: The Logic of Economic Calamities

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Penguin, 2010 - Banks and banking - 390 pages
4 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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User Review  - lente - LibraryThing

For authors who write for the general public: brevity and presenting complex ideas in simple ways are a virtue. This author hadn't those virtues. Had to give up half way in. Read full review

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User Review  - everfresh1 - LibraryThing

The best introductory explanation of two major theories of economy - Keynes vs Freedman - and how it all played out in a recent financial crisis. The author is very convincing even though he is ... Read full review

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