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Ben

Maplewood, NJ, USA | Member Since 2009

11
HELPFUL VOTES
  • 1 reviews
  • 17 ratings
  • 24 titles in library
  • 0 purchased in 2014
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  • How Markets Fail: The Logic of Economic Calamities

    • UNABRIDGED (13 hrs and 15 mins)
    • By John Cassidy
    • Narrated By Ralph Cosham
    • Whispersync for Voice-ready
    Overall
    (350)
    Performance
    (178)
    Story
    (179)

    Behind the alarming headlines about job losses, bank bailouts, and corporate greed, there is a little-known story of bad ideas. For 50 years or more, 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?

    Ben says: "Way more than I expected"
    "Way more than I expected"
    Overall

    I bought this book thinking it would be another book on the current financial crisis; after all, there are so many. I was pleasantly surprised when after a few chapters I realized that this was not at all what the book was about. It does not chronicle the crisis or even how markets have failed catastrophically in the past. Rather it articulates various ways in which free markets can fail to produce efficient outcomes. If you want a history of the current crisis, read "Too Big to Fail" by Andrew Ross Sorkin. It's essentially a blow by blow chronology and a comprehensive one at that. It's worth reading. But this book very skillfully presents a case for how markets are not always the best solution to economic problems. I've learned more from this book than I have from anything I've read in quite a while. I plan to purchase a physical copy and read it again at least once.

    11 of 11 people found this review helpful

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