How Markets Fail: The Logic of Economic Calamities Audiobook

" Utterly clear and clever analyses. "

" Interesting economics book about the different philosophies that have evolved around markets since Adam Smith and how theory often diverges from reality. It then goes into detail about market failure and spillovers and the balancing act between too much government action and too little of it, arguing that instead of people clamoring for government to take over everything or those clinging to totally unfettered free markets, the solutions are somewhere in between. It gives a sensible breakdown of the economic collapse from the housing bubble burst and some solutions to make things more stable, though most of the proposals aren't likely to happen. "

" Great book. Well researched and historical describing how our free market economic policies have lead us through generations of bubbles, crisis, and other financial crisis. He reviews Adam Smith, Hayek, Milton Friedman and others. Cassidy is a journalist and economist who writes for the New Yorker. He contends that economics has evolved into an almost pure quantitative field that fails to consider how out of touch with reality the field has become. Flawed markets do not always generate good outcomes. (No kidding.) Individuals are not rational. Markets are not stable and predictable. (Again no kidding.) He blames Greenspan for the housing bubble because he kept interest rates too low too long encouraging over buying and because he believed the mortgage market was self regulating. He promotes Hyman Minsky's reality/behaviorial economic theory that the markets are inherently unstable and promote busts and bubbles. He believes as did Keynes and others that markets cannot regulate themselves and need to have government oversight. "

" Good, especially the first half talking generally about the problems with "Utopian economics". The later parts are more specifically about the 2007 crash. "

" Een zeer diep inzicht in de belangrijkste economische theorieen, het door rationele irrationaliteit ontstaan van de bankencrises en de hervormingen die de overheid moet uitvoeren. "

" It seems like it's going to be a dense read, but this almost gripping book is surprisingly comprehensive yet completely relevant. If he gave a little more attention to his opponents, this book would be perfect. "

" Not a page turner for everyone but traces a history through the discipline of economics very well. "

" Really enjoyed this one. Very good basic intro to assumptions of neoclassical econ theory and the basic critiques of that theory. easy to follow "

" A delightful and pro capitalism look at the weaknesses of the free market. One of my favorite books on the subject. No doubt due for a reread. "

" Brilliant analysis of how we stick to limited theories(Utopian Economics) and repeat our mistakes ... we should allow ourselves to research and study all different Economic theories. "

" this book is magnificent. More than its discussion of recent events, the history of economics that is provided is extremely useful and extremely well written. "

" For authors who write for the general public: brevity and presenting complex ideas in simple ways are a virtue. This author hadn't those virtues. Had to give up half way in. "

" Cassidy provides not just a persuasive and insightful discussion of the 2008 mortgage crisis, he also presents an intriguing and easily digestible history of economics. Highly recommended. "

" Great book that serves also as a quick reader on that part of the history of economic thought which is relevant for making sense of the 2008 financial crisis. "

" Great stocking stuffer for Libertarian friends. "

" Absolutely fantastic. Just the right level for me - somewhere between knowing nothing about economics and being an economist. Straightforward and informative. "

" So boring. Couldn't get through it "

" Good, non-pretentious analysis of the current economic crisis - by looking back. An American author quotes Marx in a mainstream publication? Whoa, the times, they are a changing. Make no mistake, this is an analysis, not a call to arms. "

" This is a well-researched treatise on the failure of markets. If you want a good overview of economic theory and an informed discussion of how those theories fall down, you will want to read this book. While I don't hold with all of his ideas, his arguments are provocative. "

" Great book that serves also as a quick reader on that part of the history of economic thought which is relevant for making sense of the 2008 financial crisis. "

" Absolutely fantastic. Just the right level for me - somewhere between knowing nothing about economics and being an economist. Straightforward and informative. "

" For authors who write for the general public: brevity and presenting complex ideas in simple ways are a virtue. This author hadn't those virtues. Had to give up half way in. "

" Not a page turner for everyone but traces a history through the discipline of economics very well. "

" Very interesting (considering the subject). Easy to read and understand. I now have a general understanding of credit derivative swaps! "

" An articulate defense of regulation and intervention. "

" sort of a history of economics (only as far as Adam Smith) - will need to interloan in the future "

" Really enjoyed this one. Very good basic intro to assumptions of neoclassical econ theory and the basic critiques of that theory. easy to follow "