markets-failure   7

Akerlof, G.A. and Shiller, R.J.: Phishing for Phools: The Economics of Manipulation and Deception. (eBook and Hardcover)
Phishing for Phools therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month’s bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery—and how it can be reduced through greater knowledge, reform, and regulation. -- Intro downloaded pdf to Note
financial_crisis  kindle-available  behavioral_economics  competition  downloaded  market_manipulation  markets-psychology  financial_system  pharma  accountability  books  politics-and-money  marketing  information-asymmetric  markets-dependence_on_government  disclosure  markets-failure  financial_innovation  financial_regulation 
august 2015 by dunnettreader
Cormac Ó Gráda - Eating People Is Wrong, and Other Essays on Famine, Its Past, and Its Future | Princeton University Press
Famines are becoming smaller and rarer, but optimism about the possibility of a famine-free future must be tempered by the threat of global warming. (...) this wide-ranging book, which provides crucial new perspectives on key questions raised by famines around the globe between the 17thC and 21stC. The book begins with a taboo topic. Ó Gráda argues that cannibalism, while by no means a universal feature of famines and never responsible for more than a tiny proportion of famine deaths, has probably been more common during very severe famines than previously thought. (...) new interpretations of two of the 20thC’s most notorious and controversial famines, the Great Bengal Famine and the Chinese Great Leap Forward Famine. Ó Gráda questions the standard view of the Bengal Famine as a perfect example of market failure, ...primary cause was the unwillingness of colonial rulers to divert food from their war effort. (...) the role played by traders and speculators during famines more generally, invoking evidence from famines in France, Ireland, Finland, Malawi, Niger, and Somalia since the 1600s, and overturning Adam Smith’s claim that government attempts to solve food shortages always cause famines. Cormac Ó Gráda is professor emeritus of economics at University College Dublin. His books include Famine: A Short History and Black '47 and Beyond: The Great Irish Famine in History, Economy, and Memory (both Princeton). -- introduction downloaded as pdf to Note
books  economic_history  economic_theory  markets-failure  markets-structure  markets-psychology  famine  agriculture  Ireland  Chinese_history  China-economy  India  British_Empire  imperialism-critique  downloaded 
july 2015 by dunnettreader
Martin Albrow, review essay - Who Rules the Global Rule Makers? - Books & ideas - 3 November 2011
Reviewed: Tim Bütheand Walter Mattli, The New Global Rulers: The Privatization of Regulation in the World Economy, Princeton University Press, Princeton, New Jersey, 2011; and Vibert, Frank, Democracy and Dissent: The Challenge of International Rule Making, Edward Elgar, Cheltenham, UK, 2011. -- Tags : democracy | globalisation | European Union | governance | United States of America -- Thirty years of misguided deregulation have brought us the 2008 collapse. Two books look at how we should create new rules democratically. While adopting widely different perspectives, both beg the same question: can rulemaking alone ensure the wellbeing of people in a global society? -- saved to Instapaper
books  reviews  21stC  globalization  global_governance  privatization  MNCs  IFIs  regulation  regulation-harmonization  regulation-enforcement  deregulation  capitalism-systemic_crisis  capital_flows  capital_markets  sovereignty  capitalism  democracy  democracy_deficit  political_participation  US_foreign_policy  US_economy  US_politics  market_fundamentalism  markets_in_everything  markets-failure  plutocracy  Instapaper 
april 2015 by dunnettreader

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