How Markets Fail: The Problem of Rational Irrationality
Speaker(s): John Cassidy
Chair: Dr Paul Woolley
Recorded on 23 November 2009 in Sheikh Zayed Theatre, New Academic Building.
What caused the recent global financial crisis? Some analysts blame greed, others stupidity, yet others myopia. The real problem is more fundamental, and it relates to the inner logic of a financially driven economy that generates perverse incentives and rewards damaging behaviour.