How Markets Fail: The Logic of Economic Calamities - Couverture rigide

John, Cassidy; Cassidy, John

Couverture rigide

ISBN 10 : 1846143004 ISBN 13 : 9781846143007

Editeur : Allen Lane, 2009

Synopsis

Why are financial markets and housing markets so prone to bubbles? Why doesn't rising prosperity make people happier? Why do many people contribute generously to charity but fail to save for their own retirement? What is the economic answer to global warming? These questions all involve behaviour that many would regard as irrational - and market outcomes that are far from ideal.

Standard economics has been dominated by rational choice models, which regard the free market as a giant super-computer that magically coordinates the activities of consumers and firms, to the benefit of all. Using fascinating new insights from behavioural economics, and vivid contemporary and historical examples, Cassidy shows how people's myopia, gullibility, copycat behaviour, overconfidence, loss aversion, and sense of altruism and fairness all help us understand the world in ways that rational choice economics does not.

This is the book that both explains the current moment and explains past and future such moments. We will continue to get things wrong. But at least now we will be having the right conversation.

A propos du livre

À propos de l?auteur

John Cassidy has covered economics and finance at The New Yorker magazine since 1995, writing on topics ranging from Alan Greenspan to the Iraqi oil industry and English journalism. He is also now a Contributing Editor at Portfolio where he writes the monthly Economics column.

Two of his articles have been nominated for National Magazine Awards: an essay on Karl Marx, which appeared in October, 1997, and an account of the death of the British weapons scientist David Kelly, which was published in December, 2003. He has previously written for Sunday Times in as well as the New York Post, where he edited the Business section and then served as the deputy editor.

In 2002, Cassidy published his first book, Dot.Con. He lives in New York.

Détails de l'édition

• Éditeur: Allen Lane
• Date d'édition: 2009
• Langue: anglais
• ISBN 10: 1846143004
• ISBN 13: 9781846143007
• Reliure: Relié
• Nombre de pages: 400
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible