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How markets fail : the logic of economic calamities / John Cassidy.

By:

Cassidy, John, 1963- [author.]

Material type: Text

TextPublisher: New York : Farrar, Straus and Giroux, 2009Edition: First editionDescription: viii, 390 pages : illustrations ; 24 cmContent type:

text

Media type:

unmediated

Carrier type:

volume

ISBN:

0374173206
9780374173203

Subject(s):

DDC classification:

381 22

LOC classification:

HB3722 .C37 2009

Contents:

Pt. 1. Utopian economics -- 1. Warnings ignored and the conventional wisdom -- 2. Adam Smith's invisible hand -- 3. Friedrich Hayek's telecommunications system -- 4. The perfect markets of Lausanne -- 5. The mathematics of bliss -- 6. The evangelist -- 7. The coin-tossing view of finance -- 8. The triumph of utopian economics -- Pt. 2. Reality-based economics -- 9. The prof and the polar bears -- 10. A taxonomy of failure -- 11. The prisoner's dilemma and rational irrationality -- 12. Hidden information and the market for lemons -- 13. Keynes's beauty contest -- 14. The rational herd -- 15. Psychology returns to economics -- 16. Hyman Minsky and Ponzi finance -- Pt. 3. The great crunch -- 17. Greenspan shrugs -- 18. The lure of real estate -- 19. The subprime chain -- 20. In the alphabet soup -- 21. A matter of incentives -- 22. London Bridge is falling down -- 23. Socialism in our time.

Summary: John Cassidy describes the rising influence of what he calls utopian economics--thinking that is blind to how real people act and that denies the many ways an unregulated free market can produce disastrous unintended consequences. He then looks to the leading edge of economic theory, including behavioral economics, to offer a new understanding of the economy--one that casts aside the old assumption that people and firms make decisions purely on the basis of rational self-interest.

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Holdings
Item type	Current library	Call number	Copy number	Status	Date due	Barcode
Book	City Campus City Campus Main Collection	381 CAS (Browse shelf(Opens below))	1	Available		A277005B

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Previous	380.5 SUT Nothing to sell but service /	380.6593 IRV A century's challenge : Wright, Stephenson & Co., Limited, 1861-1961.	380.99451 MAX Glorious company : the Polynesia Company in Melbourne and Fiji /	381 CAS How markets fail : the logic of economic calamities /	381 DO Do economists make markets? : on the performativity of economics /	381 MIR Phone clones : authenticity work in the transnational service economy /	381 WAL The tyranny of the market : why you can't always get what you want /	Next

Includes bibliographical references (pages 347-370) and index.

John Cassidy describes the rising influence of what he calls utopian economics--thinking that is blind to how real people act and that denies the many ways an unregulated free market can produce disastrous unintended consequences. He then looks to the leading edge of economic theory, including behavioral economics, to offer a new understanding of the economy--one that casts aside the old assumption that people and firms make decisions purely on the basis of rational self-interest.

Machine converted from AACR2 source record.

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