How Markets Fail: The Logic of Economic Calamities
By John Cassidy
Categories: Business & Money
How Markets Fail: The Logic of Economic Calamities (2009) by John Cassidy is a book about economics and the 2008 financial crisis. Cassidy, a writer for The New Yorker, argues that a belief in self-correcting markets, which he calls utopian economics, led policymakers to ignore the risks that produced the crisis. He traces the history of economic ideas and explains how rational individual choices can add up to collective disaster.
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- Fareed Zakaria: “It is an intellectual history of the financial crisis.”