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How Markets Fail: The Logic of Economic Calamities
Hardcover
ISBN13: 9780374173203
Publisher: Farrar Straus Giroux
Pages: 390
Weight: 1.36
Height: 1.22 Width: 6.36 Depth: 9.30
Language: English
Awards: Helen Bernstein Book Award
Behind the alarming headlines about job losses, bank bailouts, and corporate greed is a little-known story of bad ideas. For fifty years or more, economists have been busy developing elegant theories of how markets work--how they facilitate innovation, wealth creation, and an efficient allocation of society's resources. But what about when markets don't work? What about when they lead to stock market bubbles, glaring inequality, polluted rivers, real estate crashes, and credit crunches?
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. How Markets Fail offers a new, enlightening way to understand the force of the irrational in our volatile global economy.
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