Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox’s The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today.
"Takes patience, but pays off"
Justin Fox, the executive editor, New York, at Harvard Business Review, writes about how the reaction to the financial shock of 2008 was smarter than that of the Great Depression.
A governance system that relies on shareholders to keep corporations on the straight and narrow is doomed to fail.