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Overview. The book examines the history of economic theory and attempts to diagnose the recent rise and fall of markets, particularly the housing bubble and credit crisis (2007–2009). [1] How Markets Fail argues against unfettered free-market ideology and supports government regulation in the financial industry. [2]
- John Cassidy
- 2009
16 de may. de 2024 · Market failure refers to the inefficient allocation of resources that occurs when individuals acting in rational self-interest produce a sub-optimal outcome. Market failure can occur in...
23 de nov. de 2010 · How Markets Fail is an excellent overview of the field of modern day economics and its intellectual history. The purpose of the book is make the reader embrace the reality that market failures are abundant and not solvable by free market capitalism.
- (256)
- Picador
- $10.96
10 de nov. de 2009 · In How Markets Fail, John Cassidy describes the rising influence of what he calls utopian economics—thinking that is blind to how real people act and that denies the many ways an unregulated free market can produce disastrous unintended consequences.
- (258)
- John Cassidy
- $18.38
- John Cassidy
Market failure occurs when there is a state of disequilibrium in the market due to market distortion. It takes place when the quantity of goods or services supplied is not equal to the quantity of goods or services demanded.
10 de nov. de 2009 · In How Markets Fail, John Cassidy describes the rising influence of what he calls utopian economics—thinking that is blind to how real people act and that denies the many ways an unregulated free market can produce disastrous unintended consequences.
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.
