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BUSINESS | HOW MARKETS FAIL: The Logic of Economic Calamities

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HOW MARKETS FAIL: The Logic of Economic Calamities
ISBN: 9780141036519
Author: John Cassidy
Publish Date: DEC 10
Format: PB

Behind the alarming headlines about job losses, bank bailouts, and corporate greed is a little-known story of bad ideas. For over 50 years, economists have been busy developing elegant theories of how markets work -- how they facilitate innovation, wealth creation, and an efficient allocation of society's resources. But what about when markets don't work? What about when they lead to stock market bubbles, glaring inequality, polluted rivers, real estate crashes, and credit crunches? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea -- the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking.

$32.00 NZD

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