HomeGroupsTalkExploreZeitgeist
Search Site
This site uses cookies to deliver our services, improve performance, for analytics, and (if not signed in) for advertising. By using LibraryThing you acknowledge that you have read and understand our Terms of Service and Privacy Policy. Your use of the site and services is subject to these policies and terms.
Hide this

Results from Google Books

Click on a thumbnail to go to Google Books.

The Myth of the Rational Market: A History…
Loading...

The Myth of the Rational Market: A History of Risk, Reward, and Delusion… (edition 2011)

by Justin Fox

MembersReviewsPopularityAverage ratingMentions
412653,148 (3.84)2
Examines the rise and fall of the efficient markets theory, the development of modern finance, and the rise of behavioral economics, in an account that draws on interviews with top thinkers while demystifying the ideas that forged the modern market.
Member:dorktv
Title:The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
Authors:Justin Fox
Info:Harper Paperbacks (2011), Edition: Reprint, Paperback, 416 pages
Collections:Your library
Rating:
Tags:None

Work Information

The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street by Justin Fox

Loading...

Sign up for LibraryThing to find out whether you'll like this book.

No current Talk conversations about this book.

» See also 2 mentions

Showing 5 of 5
Arrived Lausanne
  LOM-Lausanne | Mar 19, 2020 |
This is an excellent analysis of financial and economic matters. I read the 2009 HarperCollins Kindle e-book edition rather than the 2011 Harriman House Kindle edition listed here. I do not know whether the later edition made any changes to the earlier edition, but I suspect that the two editions are substantially the same, if not identical, in their contents. ( )
  AlanEJohnson | Aug 27, 2014 |
Interesting historical review of the evolution of financial markets, with a behavioral bent that reminded me of the courses delivered by Prof. Shiller (Yale, see oyc.yale.edu, now a Nobel laureate); every model is an abstraction made by people who decide what is relevant ;)

And people, even economists hiding behind formulas, are a constant confirmation of Cipolla's Laws of Human Stupidity: a pile of degrees will not spare you from being conned or deceived- even by yourself, moreover in a "science" (as criticised by an LSE professor from Eastern Europe) where you can not only chose, but even make your own facts ( )
  aleph123 | Apr 24, 2014 |
The Myth of the Rational Market is an extensive history of the efficient market hypothesis, starting in the late 1800s and continuing all the way through 2008. It covers all the major players, explains the discoveries and theories that lead to the hypothesis, and explains how it came unraveled in the 1980s and beyond. As economics can be, sometimes it was a little hard to keep all the threads aligned in my head. Fox does a fairly admirable job of juggling them all, better than many economics texts I’ve read.

It’s rare for me to finish an economics book and feel better informed with information on issues that I actually discuss with friends. Okay, mostly I’m talking about wing-nut friends who like to post "the market is always best" tripe on Facebook or LiveJournal. Now I’ve got the evidence to say "you’re an idiot".

Full review here: http://reading.kingrat.biz/reviews/myth-of-the-rational-market-justin-fox ( )
1 vote KingRat | Apr 25, 2010 |
Time Magazine’s Curious Capitalist takes a look at the history of the efficient-market hypothesis— the notion that market prices reflect aggregate wisdom— in the past century. He livens up the discussion of economics by highlighting the characters involved, bringing much-needed color to discussion of the dismal science. The history shows how the idea developed in academia and found expression in finance, until burgeoning contradictions from the real world began to undermine the notion that we can just leave unregulated free markets to solve all our problems, and points the way to new developments in behavioral economics that help to explain the past and may help us to guide the future. He closes with a moderate perspective:

Where does this leave us? It leaves us with a need to find ways to temper speculative excess while acknowledging that we won’t necessarily be able to distinguish speculative excess from an entirely sustainable boom. Financial regulation will be part of that. A rediscovery of ethics and integrity ... will play a role, too, one hopes. So will memory...

If the events of recent years haven’t already convinced you that rational markets belong to the same domain of idealized tools as frictionless surfaces, massless pulleys, and perfect blackbodies, this will provide you with plenty of food for thought. If you already thought that, it’s a good history of a major current in the economic and financial thinking of the past century. ( )
3 vote slothman | Sep 5, 2009 |
Showing 5 of 5
no reviews | add a review
You must log in to edit Common Knowledge data.
For more help see the Common Knowledge help page.
Canonical title
Original title
Alternative titles
Original publication date
People/Characters
Important places
Important events
Related movies
Awards and honors
Epigraph
Dedication
To Allison
First words
Quotations
Last words
Disambiguation notice
Publisher's editors
Blurbers
Original language
Canonical DDC/MDS
Canonical LCC

References to this work on external resources.

Wikipedia in English (3)

Examines the rise and fall of the efficient markets theory, the development of modern finance, and the rise of behavioral economics, in an account that draws on interviews with top thinkers while demystifying the ideas that forged the modern market.

No library descriptions found.

Book description
Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industsry, Justin Fox's The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself. [adapted from the jacket]
Haiku summary

Popular covers

Quick Links

Rating

Average: (3.84)
0.5
1
1.5
2 2
2.5
3 9
3.5 3
4 25
4.5 2
5 6

Is this you?

Become a LibraryThing Author.

 

About | Contact | Privacy/Terms | Help/FAQs | Blog | Store | APIs | TinyCat | Legacy Libraries | Early Reviewers | Common Knowledge | 180,215,232 books! | Top bar: Always visible