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The Trouble with Markets
Book

The Trouble with Markets

Saving Capitalism from Itself

Roger Bootle
Nicholas Brealey Publishing, 2009

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Editorial Rating

8

Qualities

  • Eye Opening
  • Well Structured

Recommendation

You could call Roger Bootle a self-hating economist. In this trenchant study, he takes ruthless aim at fellow economists and financial professionals for allowing the financial markets to run amok. Despite his status as a City of London insider, Bootle mauls bankers for collecting overly rich paychecks and bashes investment advisers for their general cluelessness. While Bootle isn’t the only observer to arrive at the conclusion that the markets are broken and that free-market ideology is wrong, his sophisticated understanding of finance makes his arguments especially astute. getAbstract recommends this intriguing book to investors and policy makers seeking a thoughtful prescription for Wall Street and the City.

Take-Aways

  • The “Great Implosion” of 2007-2009 proved that business as usual is no longer feasible.
  • The collapse showed that “Efficient Market Theory” is incorrect and that unfettered capitalism is a recipe for chaos.
  • In financial markets, conventional wisdom is like currency, so insiders ignore and belittle those with contrarian views.

About the Author

Roger Bootle is one of the City of London’s top economists. His other books include The Death of Inflation and Money for Nothing.

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