How Markets Fail: The Rise and Fall of Free Market Economics

For decades, economists have been developing elegant theories of how markets facilitate innovation, create wealth, and allocate society's resources efficiently. But what about when they inevitably break down, when they lead us to stock market bubbles, glaring inequality, polluted landscapes, and credit crunches? In How Markets Fail, the longtime New Yorker staff writer John Cassidy describes the long shadow of "utopian economics"-a school of thought that is blind to how real people act and ...