Financial-markets

Cass R. Sunstein's book is a serious piece of scholarship about very engaging legal and social issues concerning economics and law. The book derives both strengths and weaknesses from its beginnings as a series of lectures presented from 1990 to 1995. Each chapter presents a thoughtful thesis, but not all chapters link together in a clearly understandable manner. However, a reader who is prepared to put in the required effort, will gain a wealth of thought-provoking material. We at getAbstract recommend this book to anyone who misses pure intellectual challenge. Lawyers, policy makers, and economists are most likely to appreciate it.

The author provides a balance between recognizing the value that is embodied in free markets and realizing that they are not an end in themselves. Rather, the author writes that markets are best evaluated on the basis not of some imagined inherent worth, but on the basis of their practical effects in real life. By taking the focus away from the theoretical premises of free markets and allowing criticism based on their practical effects on human life, while still recognizing the amazing good they are, the author strikes a balance between those who would turn to some form of a socialistic economic system in order to achieve greater social justice and those who believe that markets can do no wrong. The author is talented at creating new perspectives from which to view issues related to markets and social justice. In addition, he does an excellent job at making a case for legitimate (yet still limited) government involvement in markets by using arguments that most conservatives would agree with. From a theological perspective, however, the author tends at times to point to markets as the source of some social ills that actually have their source not in market mechanisms, but in the presence of sin and evil in the world. Overall, the book is an excellent and balanced analysis of free markets and their effects on social justice. It is not easy bedtime reading, however. Be prepared to take quite a bit of time chewing on the author's ideas.

I use this textbook for my Financial Markets class and I learn so much from it. Fabozzi does a wonderful job of transfering his ideas to students so they can comprehend them and learn. Because of this book, I will definately get an 'A' in my class. I recommend this book to anybody.