Poetry Madness
 
 

Special Offers see all

Enter to WIN a $100 Credit

Subscribe to PowellsBooks.news
for a chance to win.
Privacy Policy

Visit our stores


    Recently Viewed clear list


    Original Essays | April 6, 2015

    Mary Norris: IMG Voracious



    In the summer of 2012, I got a contract for a book about language, based on my experiences of more than 30 years as a copy editor at The New Yorker.... Continue »
    1. $17.47 Sale Hardcover add to wish list

    spacer
Qualifying orders ship free.
$19.50
List price: $27.99
Used Hardcover
Ships in 1 to 3 days
Add to Wishlist
Qty Store Section
1 Burnside Business- Investing

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

by

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

 

Synopses & Reviews

Publisher Comments:

Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, 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.

The efficient market hypothesis—long part of academic folklore but codified in the 1960s at the University of Chicago—has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.

Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory “represents one of the most remarkable errors in the history of economic thought.” Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.

Synopsis:

“Do we really need yet another book about the financial crisis? Yes, we do—because this one is different….A must-read for anyone who wants to understand the mess were in.”
—Paul Krugman, New York Times Book Review

 

“Fox makes business history thrilling.”
—St. Louis Post-Dispatch

 

A lively history of ideas, The Myth of the Rational Market by former Time Magazine economics columnist Justin Fox, describes with insight and wit the rise and fall of the worlds most influential investing idea: the efficient markets theory. Both a New York Times bestseller and Notable Book of the Year—longlisted for the Financial Times Business Book of the Year Award and named one of Library Journal Best Business Books of the Year—The Myth of the Rational Market carries readers from the earliest days of Wall Street to the current financial crisis, debunking the long-held myth that the stock market is always right in the process while intelligently exploring the replacement theory of behavioral economics.

About the Author

Justin Fox is the business and economics columnist for Timemagazine and the author of the popular Time.com blog The Curious Capitalist(<>). Previously an editor and writer at Fortune, he appears regularly on CNN, CNBC, and PBS's Nightly Business Report. He lives in New York City with his wife and son.

Product Details

ISBN:
9780060598990
Subtitle:
A History of Risk, Reward, and Delusion on Wall Street
Author:
Fox, Justin
Publisher:
HarperBusiness
Subject:
Economics - Theory
Subject:
Economic History
Subject:
Investments & Securities - General
Subject:
Investments & Securities
Subject:
History
Subject:
Economics
Subject:
Economics -- History.
Subject:
Economics -- Psychological aspects.
Subject:
Business-History and Biography
Copyright:
Edition Description:
Hardcover
Publication Date:
20090609
Binding:
Hardback
Grade Level:
General/trade
Language:
English
Pages:
400
Dimensions:
9 x 6 x 1.25 in 19.76 oz

Other books you might like

  1. Modern China (3RD 08 Edition) Used Trade Paper $44.00
  2. The Great Depression and the New... Used Trade Paper $4.50
  3. On History Used Trade Paper $19.00
  4. World Without Us Used Book Club Paperback $7.50
  5. Contending Perspectives in... Used Trade Paper $46.00
  6. In Defense of History Used Trade Paper $6.50

Related Subjects

Business » History and Biographies
Business » Investing
History and Social Science » Economics » General
History and Social Science » US History » General

The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street Used Hardcover
0 stars - 0 reviews
$19.50 In Stock
Product details 400 pages HarperBusiness - English 9780060598990 Reviews:
"Synopsis" by ,

“Do we really need yet another book about the financial crisis? Yes, we do&#8212;because this one is different….A must-read for anyone who wants to understand the mess were in.”
&#8212;Paul Krugman, New York Times Book Review

 

“Fox makes business history thrilling.”
&#8212;St. Louis Post-Dispatch

 

A lively history of ideas, The Myth of the Rational Market by former Time Magazine economics columnist Justin Fox, describes with insight and wit the rise and fall of the worlds most influential investing idea: the efficient markets theory. Both a New York Times bestseller and Notable Book of the Year&#8212;longlisted for the Financial Times Business Book of the Year Award and named one of Library Journal Best Business Books of the Year&#8212;The Myth of the Rational Market carries readers from the earliest days of Wall Street to the current financial crisis, debunking the long-held myth that the stock market is always right in the process while intelligently exploring the replacement theory of behavioral economics.

spacer
spacer
  • back to top

FOLLOW US ON...

     
Powell's City of Books is an independent bookstore in Portland, Oregon, that fills a whole city block with more than a million new, used, and out of print books. Shop those shelves — plus literally millions more books, DVDs, and gifts — here at Powells.com.