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Title How markets fail : the logic of economic calamities / John Cassidy.
Author Cassidy, John, 1963-
Publication New York : Picador, 2010.
Edition First Picador edition.
Description vi, 409 pages : illustrations ; 21 cm
Call # 381 C
Note Includes index.
"With a new afterword"--Cover.
Contents Warnings: ignored and the conventional wisdom -- Adam Smith's invisible hand -- Friedrich Hayek's telecommunications system -- The perfect markets of Lausanne -- The mathematics of bliss -- The evangelist -- The coin-tossing view of finance -- The triumph of Utopian economics -- The prof and the polar bears -- A taxonomy of failure -- The prisoner's dilemma and rational irrationality -- Hidden information and the market for lemons -- Keynes's beauty contest -- The rational herd -- Psychology returns to economics -- Hyman Minsky and Ponzi finance -- Greenspan shrugs -- The lure of real estate -- The subprime chain -- In the alphabet soup -- A matter of incentives -- London Bridge is falling down -- Socialism in our time.
Summary John Cassidy describes the rising influence of "utopian economics"--The thinking that is blind to how real people act and that denies the many ways an unregulated free market can bring on disaster. Combining on-the-ground reporting and clear explanations of economic theories, Cassidy warns that in today's economic crisis, following old orthodoxies isn't just misguided--it's downright dangerous -- from cover.
Subject Financial crises.
Stock exchanges.
Monetary policy.
Banks and banking.
Banks and banking. (OCoLC)fst00826867
Financial crises. (OCoLC)fst00924607
Monetary policy. (OCoLC)fst01025230
Stock exchanges. (OCoLC)fst01133564
ISBN 9780312430047 (softcover)
0312430043 (softcover)

Location CALL # Status Message
 Central 2nd Fl - SST Non-Fiction  381 C    CHECK SHELVES