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Illusionary Economics

Published on August 18, 2009 by in InSite Review

HOW MARKETS FAIL: The Logic of Economic Calamities by John Cassidy. Viking Canada, Toronto, 2009. Reviewed by William Sheridan. According to economically-trained Economics Journalist John Cassidy, most of economic theory from Adam Smith to Milton Friedman has been utopian in its assumptions rather than realist.  Forces and processes were postulated that reduced real-life complexity to simplistic terms, and

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