How Markets Fail
by John Cassidy, Cassidy John · first published 2009
9mentions
7recommended by
8HN commenters
2011–2022first – last mentioned
88% recommend13% neutral
Why HN recommends it
Explains when and why real markets fail to produce efficient or desirable outcomes, including the history of the efficient market hypothesis. Suited to readers wanting economics beyond textbook assumptions.
Summarised by Claude from recommending comments
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…online blog list, you might do well instead to pick up the official introduction for finance by and for the financial industry. For a general understanding of macroeconomics, I'd recommend just Cassidy's 'How Markets Fail' and you're set.
on “How to earn your macroeconomics and finance white belt as a software developer” ↗Politics: The Gamble by Thomas E. Ricks Economics: How Markets Fail by John Cassidy Fiction: read through the works of Jo Nesbo, Dennis Lehane, Don Winslow and Stieg Larrsson - all of them recommendable
on “Ask HN: Best book you read in 2011” ↗…from the rules taught in this class. What I find puzzling is that many American libertarians seem to be so intellectually lazy when it comes to Economics 102 if you can call it so. You may want to read "How markets fail" by John Cassidy to get an overview over the topic. Here's a review by Business Week: http://www.businessweek.com/magazine/content/09_47/b41560797... > This isn't about right or wrong, it's math.…
on “This is why I don't give you a job” ↗…markets have been shown not to do well is make sacrifices for moral reasons. Even reading this claim in the narrow context of the article it seems too broad. John Cassidy has written an insightful book “How markets fail“ that explains when markets do not generate optimal or desirable outcomes.
on “The Long-Term Stock Exchange Comes to Life” ↗John Cassidy's "How Markets Fail" is a must-read IMHO. I went through 4 years of an economics degree at a top tier university (top 5 globally in Econ), and Cassidy's book just happened to be the weekly assigned reading for a class my…
on “Crunching 200 years of stock, bond, currency and commodity data” ↗If you're interested in this topic you might like: - Why markets fail (https://www.amazon.com/How-Markets-Fail-Economic-Calamities/...) - Thinking in Systems (https://www.amazon.com/Thinking-Systems-Donella-H-Meadows-eb...)
on “When does the concept of equilibrium work in economics?” ↗Check out the book "How Markets Fail" for a discussion on how the efficient market hypothesis gained popularity (part 1) and a discussion of the many ways that real markets do not maintain the preconditions for markets to be efficient. In…
on “Crunching 200 years of stock, bond, currency and commodity data” ↗…with it. The focus of the book is more to provide the analytical framework for you to make your own judgements as to how things operate in an economy. Once you ready the Sowell book make sure you read "How Markets Fail" which takes a slanted, oppositional view to deregulation.
on “Ask HN: Books you read in 2018?” ↗…articles for the magazine, on topics ranging from Alan Greenspan and Ben Bernanke to the intelligence failures before the Iraqi War and the economics of John Maynard Keynes. He is the author of two books: “How Markets Fail: The Logic of Economic Calamities” and “Dot.Con: How America Lost Its Mind and Money in the Internet Era.” Before joining The New Yorker, he worked for the Sunday Times of London and the Post. He graduated…