How markets fail : the logic of economic calamities / John Cassidy.
Cassidy, John, 1963-
2009
HB3722 .C37 2009 (Mapit)
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Title How markets fail : the logic of economic calamities / John Cassidy.
Author Cassidy, John, 1963-
Edition 1st ed.
ISBN 9780374173203
0374173206
Imprint New York : Farrar, Straus and Giroux, 2009.
Language English
Description viii, 390 p. : ill. ; 24 cm.
Call Number HB3722 .C37 2009
Dewey Decimal Classification 381
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.
Bibliography, etc. Note Includes bibliographical references and index.
Record Appears in On-Campus Resources > Books
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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.

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