Thursday, November 5, 2020

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

This review was written by Eugene Kernes

Book can be found in:
Genre = Economics
Intriguing Connections = Learning Economics: Basic to Advanced

Elaborate Description

The book is very valuable to read. The explanation of how some theories help institutions and at other times hinder them is a helpful way to understand how not to be overly reliant on any specific set of ideas. The drawbacks of this book is the lack of consistency. The author's transitions from topic to topic are not very smooth to the point where it is difficult to grasp where one topic ends and another begins. There where many times in the book where the author gave very good descriptions of the theory behind a certain paper or person, but many times were the author wants to the readers to be credulous to theory without a proper explanation. In the 1st part of the book, it seems that some descriptions were of Bayesian Theory yet there was no mention of him. The best part about this book is to see the interconnections between various people who helped progress the field of economics. There are many insights in this book.

Book Details

Edition ISBN:  9780060599034
Pages to read:   332
Publication:     2011
1st Edition:      2009
Format:            Paperback

Ratings out of 5:
Readability    5
Content          4
Overall           4