How Markets Fail
 Softcover edition | |
| Author | John Cassidy |
|---|---|
| Language | English |
| Subject | Economic theory |
| Genre | Non-Fiction |
| Publisher | FSG |
Publication date | 2009 |
| Publication place | United States |
| Media type | Print (hardback & paperback) |
| Pages | 400 pp. |
| ISBN | 978-0-374-17320-3 |
| Preceded by | Dot.con: The Greatest Story Ever Sold |
How Markets Fail: The Logic of Economic Calamities (2009) is a book by economist and journalist John Cassidy. The book was published in the US by Farrar, Straus and Giroux.
Overview
The book examines the history of economic theory and attempts to diagnose the recent rise and fall of markets, particularly the housing bubble and credit crisis (2007–2009).[1]
How Markets Fail argues against unfettered free-market ideology and supports government regulation in the financial industry. [2]
Reception
Kirkus, giving it a starred review, remarked, "Cassidy delivers on the promise of his title, but he also offers a clear-eyed look at economic thinking over the last three centuries, from Adam Smith to Ben Bernanke, and shows how the major theories have played out in practice, often not well."[3]
Robert P. Murphy of the Mises Institute wrote, "Cassidy first caricatures the case for free markets, then tries to demonstrate the hypocrisy of a 'free-market financial bailout." In the end, however, Murphy argues that Cassidy "significantly undercut[s] his whole thesis [by] admit[ing] what we just lived through was not a free market".[4]
References
- ^ Barrett, Paul M (2009-11-12). "Rational Irrationality". The New York Times. Retrieved 2015-12-20.
- ^ http://www.businessweek.com/magazine/content/09_47/b4156079791251.htm
- ^ https://www.kirkusreviews.com/book-reviews/john-cassidy/how-markets-fail/
- ^ https://mises.org/library/john-cassidy-fails-his-critique-markets