John Cassidy (3) (1963–)

Cassidy is an economist by education and did a lot of research for the book. If you've already know the basics of economic history you might want to skip that part of it. However, I did and I still found his non-denominational Brief History of Economics readable because he talks about a few lesser-known figures who figure into later parts of the book as well as more recent developments such as behavioral economics.

Likewise, the basics of why markets don't always operate as hoped or expected by one economic ideology or the other is well-presented. He labels the strong free market/rational econ thinking as utopian economics and advocates for non-ideological, pragmatic approach he calls reality-based economics.

When it comes to dealing with the 2007-2008 crisis, he carefully dissects the events, policies, and actions of the various players and shows how they created the incentives that led to the speculative bubble and then let it grow to gargantuan proportions. It was no one person or entity's fault, but rather the result of many entities acting together, most informed to one degree or another by utopian economic thinking.… (mehr)

Mr. Cassidy writes an excellent historical account of the dot.com bust. He spices the historical information with good descriptions of why certain things were done according to "business rules." Having worked for a defunct .com myself, I found this book to be quite informative about the one end of business all the technicians and developers didn't want to know about -- the cash flow. Looking back, many of the warning signs that Mr. Cassidy notes were there for all of us in the company to have seen...if we had known what to look for. An excellent work on a piece of history we should all study much closer.… (mehr)

Excellent. Thorough overview of the field of economics, from Adam Smith through JS Mill, Keynes and Hayek, Friedman, to the current financial collapse. Argues for a pragmatic approach, with the full acknowledgment that market failure exists, and that there is no invisible hand when it comes to the financial markets. The real joy for me comes in learning all sorts of things about economists I'd not really heard anything about, such as Arrow, Akerlof, and Minsky. It predates the Occupy movement, written in 2009, and it's late enough that you can see that Wall Street didn't learn a damn thing from the recent financial crisis.
4 stars oc… (mehr)