Download or read book How Markets Fail written by Cassidy John and published by Penguin UK. This book was released on 2013-01-31 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking. A very good history of economic thought Economist How Markets Fail offers a brilliant intellectual framework . . . fine work New York Times An essential, grittily intellectual, yet compelling guide to the financial debacle of 2009 Geordie Greig, Evening Standard A powerful argument . . . Cassidy makes a compelling case that a return to hands-off economics would be a disaster BusinessWeek This book is a well constructed, thoughtful and cogent account of how capitalism evolved to its current form Telegraph Books of the Year recommendation John Cassidy ... describe[s] that mix of insight and madness that brought the world's system to its knees FT, Book of the Year recommendation Anyone who enjoys a good read can safely embark on this tour with Cassidy as their guide . . . Like his colleague Malcolm Gladwell [at the New Yorker], Cassidy is able to lead us with beguiling lucidity through unfamiliar territory New Statesman 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.
Download or read book The Market that Failed written by C. P. Chandrasekhar and published by Leftword. This book was released on 2004 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explicit adoption of a neoliberal reform programme in mid-1991 by the Indian government was the start of a period of intensive economic liberalization and changed attitudes towards government intervention in the economy. This book surveys the actual experience of the last decade to argue that this strategy has not just failed to deliver sustained growth, but has had damaging consequences from the point of view of employment, poverty alleviation and equity. It covers a wide range of areas, including fiscal and monetary policy, privatization and the experience with foreign direct investment, and analyses the political economy of the reform process. "This is a must read book for both specialists and laypersons who are interested in understanding India's economic problem." Frontline "A painstaking work of immense importance. . . . An excellent survey . . . . In the debates and deliberations on economic reforms in India, The Market That Failed should have an important place." The Hindu ? "The forceful critique [in the book] is persuasive. . .it is a welcome book, worth careful reading." The Book Review
Download or read book Failed written by Mark Weisbrot and published by Oxford University Press, USA. This book was released on 2015 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Failed argues that some of the most important economic developments of recent years, including prolonged economic failures and alternatives, are widely misunderstood. Topics include the Eurozone, growth in the developing world, Latin America's "second independence" in the 21st century, and the International Monetary Fund's policies and loss of influence.
Download or read book The Market that Failed written by C. P. Chandrasekhar and published by . This book was released on 2002 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explicit adoption of a neoliberal reform programme in mid-1991 by the Indian government was the start of a period of intensive economic liberalization and changed attitudes towards government intervention in the economy. This book surveys the actual experience of the last decade to argue that this strategy has not just failed to deliver sustained growth, but has had damaging consequences from the point of view of employment, poverty alleviation and equity. It covers a wide range of areas, including fiscal and monetary policy, privatization and the experience with foreign direct investment, and analyses the political economy of the reform process.
Download or read book When Genius Failed written by Roger Lowenstein and published by Random House Trade Paperbacks. This book was released on 2001-10-09 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist
Download or read book Why Startups Fail written by Tom Eisenmann and published by Currency. This book was released on 2021-03-30 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you want your startup to succeed, you need to understand why startups fail. “Whether you’re a first-time founder or looking to bring innovation into a corporate environment, Why Startups Fail is essential reading.”—Eric Ries, founder and CEO, LTSE, and New York Times bestselling author of The Lean Startup and The Startup Way Why do startups fail? That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn’t answer it. So he launched a multiyear research project to find out. In Why Startups Fail, Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures. • Bad Bedfellows. Startup success is thought to rest largely on the founder’s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. • False Starts. In following the oft-cited advice to “fail fast” and to “launch before you’re ready,” founders risk wasting time and capital on the wrong solutions. • False Promises. Success with early adopters can be misleading and give founders unwarranted confidence to expand. • Speed Traps. Despite the pressure to “get big fast,” hypergrowth can spell disaster for even the most promising ventures. • Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply of both. • Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big. But the bigger the vision, the more things that can go wrong. Drawing on fascinating stories of ventures that failed to fulfill their early promise—from a home-furnishings retailer to a concierge dog-walking service, from a dating app to the inventor of a sophisticated social robot, from a fashion brand to a startup deploying a vast network of charging stations for electric vehicles—Eisenmann offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them. A must-read for founders at any stage of their entrepreneurial journey, Why Startups Fail is not merely a guide to preventing failure but also a roadmap charting the path to startup success.
Download or read book Cleft Capitalism written by Amr Adly and published by Stanford University Press. This book was released on 2020-06-09 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Egypt has undergone significant economic liberalization under the auspices of the International Monetary Fund, the World Bank, USAID, and the European Commission. Yet after more than four decades of economic reform, the Egyptian economy still fails to meet popular expectations for inclusive growth, better standards of living, and high-quality employment. While many analysts point to cronyism and corruption, Amr Adly finds the root causes of this stagnation in the underlying social and political conditions of economic development. Cleft Capitalism offers a new explanation for why market-based development can fail to meet expectations: small businesses in Egypt are not growing into medium and larger businesses. The practical outcome of this missing middle syndrome is the continuous erosion of the economic and social privileges once enjoyed by the middle classes and unionized labor, without creating enough winners from market making. This in turn set the stage for alienation, discontent, and, finally, revolt. With this book, Adly uncovers both an institutional explanation for Egypt's failed market making, and sheds light on the key factors of arrested economic development across the Global South.
Download or read book Why Nations Fail written by Daron Acemoglu and published by Currency. This book was released on 2013-09-17 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
Download or read book Markets and Market Failure written by Stephen Munday and published by Heinemann. This book was released on 2000 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markets and Market Failure provides a comprehensive introduction to this important area.
Download or read book When Free Markets Fail written by Scott McCleskey and published by John Wiley & Sons. This book was released on 2010-07-16 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authoritative guidance for navigating inevitable financial market regulation The reform of this country's financial regulation will be one of the most significant legislative programs in a generation. When Free Markets Fail: Saving the Market When It Can’t Save Itself outlines everything you need to know to stay abreast of these changes. Written by Scott McCleskey, a Managing Editor at Complinet, the leading provider of risk and compliance solutions for the global financial services industry Looks at the intended result of these regulations so that institutions and individuals will have a greater understanding of the new regulatory environment Offers a realistic look at how these regulations will affect anyone who has a bank account, a car loan, a mortgage or a credit card Covers the reforms that have been enacted and looks forward to future reforms Both theoretical and practical in approach, When Free Markets Fail provides a strong overview of coming regulation laws with insightful analysis into various aspects not easily understood.
Download or read book Market Failure in Context written by Alain Marciano and published by . This book was released on 2015 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guaranteed to Fail written by Viral V. Acharya and published by Princeton University Press. This book was released on 2011-03-14 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.
Download or read book Market Failure written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-01-22 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Market Failure The term "market failure" comes from the field of neoclassical economics and refers to a scenario in which the distribution of commodities and services by a free market is not Pareto optimal. This circumstance frequently results in a loss of significant economic value. Failures in the market can be understood as situations in which people' pursuit of their own self-interest leads to outcomes that are not efficient, outcomes that, from the perspective of society, have room for improvement. The concept can be traced back to the Victorian philosopher Henry Sidgwick, who is credited with being the first person to use the term in the field of economics around the year 1958.A number of factors, including public goods, time-inconsistent preferences, information asymmetries, non-competitive markets, principal-agent difficulties, and externalities, are frequently linked to market failures. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Market failure Chapter 2: Economics Chapter 3: Microeconomics Chapter 4: Ronald Coase Chapter 5: Pareto efficiency Chapter 6: Environmental economics Chapter 7: Free-rider problem Chapter 8: Externality Chapter 9: Participatory economics Chapter 10: Index of economics articles Chapter 11: X-inefficiency Chapter 12: Coase theorem Chapter 13: Pigouvian tax Chapter 14: Social cost Chapter 15: Welfare economics Chapter 16: Allocative efficiency Chapter 17: Robin Hahnel Chapter 18: Government failure Chapter 19: Market (economics) Chapter 20: Property rights (economics) Chapter 21: Public economics (II) Answering the public top questions about market failure. (III) Real world examples for the usage of market failure in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Market Failure.
Download or read book Failure by Design written by Josh Bivens and published by Cornell University Press. This book was released on 2011-02-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.
Download or read book Markets Don t Fail written by Brian P. Simpson and published by Lexington Books. This book was released on 2005 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In all of the contemporary economics textbooks that have been written there is typically at least one chapter that addresses 'market failure.' Markets Don't Fail! is a response to what author Brian Simpson sees as a fundamental error in the thinking of some economists. The chapter titles of this book are crafted against the premises of 'market failure' arguments, and a significant portion of this book focuses on exposing the invalid premises upon which the claims of market failure are based and providing a proper basis upon which to judge the free market. The material in this book provides a strong antidote to the arguments typically presented in contemporary economics textbooks. Through example and argument, Brian Simpson shows that the claims against the free market are not true. In fact, he demonstrates how free markets succeed, how they raise the standard of living of all individuals who live within them, and how free markets allow human life to flourish. However, the book goes much deeper than economics by providing a moral and epistemological defense of the free market. Markets Don't Fail! gets to the fundamental, philosophical reasons why the claims of market failure are false and why markets actually succeed. Through an integration of economics and philosophy Simpson is able to provide a comprehensive, rigorous, and logically consistent defense of the free market. The specific topics covered in the book include monopoly, antitrust laws and predatory pricing, 'externalities,' the regulation of safety and quality, environmentalism, economic inequality, 'public goods,' and asymmetric information. This book is an invaluable tool for anyone who wants to gain a sound understanding of the free market.
Download or read book Government Failure Versus Market Failure written by Clifford Winston and published by Brookings Institution Press and AEI. This book was released on 2006 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: When should government intervene in market activity? When is it best to let market forces simply take their natural course? How does existing empirical evidence about government performance inform those decisions? Brookings economist Clifford Winston uses these questions to frame a frank empirical assessment of government economic intervention in Government Failure vs.
Download or read book How Markets Fail written by John Cassidy and published by Picador. This book was released on 2021-06-01 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Veteran New Yorker staff writer John Cassidy offers a provocative take on the misguided economic thinking that produced the 2008 financial crisis—now with a new preface addressing how its lessons remain unheeded in the present, as we're facing the worst economic catastrophe since the Great Depression. A Pulitzer Prize Finalist An Economist Book of the Year A Businessweek Best Book of the Year For fifty years, economists have been developing elegant theories or how markets facilitate innovation, create wealth, and allocate society's resources efficiently. But what about when they fail, when they lead us to stock market bubbles, glaring inequality, polluted rivers, and credit crunches? In this updated and expanded edition of How Markets Fail, John Cassidy describes the rising influence of "utopian economies"—the thinking that is blind to how real people act and that denies the many ways an unregulated free market can bring on disaster. Combining on-the-ground reporting and clear explanations of economic theories Cassidy warns that in today's economic crisis, following old orthodoxies isn't just misguided—it's downright dangerous.
