How markets fail : the logic of economic calamities
(Book)

Includes bibliographical references (pages 347-370) and index.

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. He then looks to the leading edge of economic theory, including behavioral economics, to offer a new understanding of the economy -- one that casts aside the old assumption that people and firms make decisions purely on the basis of rational self-interest.