The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street »

Justin Fox is the business and economics columnist for Time magazine and the author of the popular Time.com blog The Curious Capitalist (www.time.com/curiouscapitalist). Previously an editor and writer at Fortune, he appears regularly on CNN, CNBC, and PBS's Nightly Business Report. He lives in New York City with his wife and son.

"Justin Fox is a truly insightful fellow who can see things with his own eyes--a rare, very rare attribute." Nassim Nicholas Taleb, author of The Black Swan

"This wise and witty book is must reading for anyone who wonders what makes financial markets tick. Even those who have wrestled with this question for years will be glad to have read Fox's compelling history." Peter Bernstein, author of Against the Gods and Capital Ideas CHRONICLING the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox's The Myth of the Rational Market is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled...

The New York Times - Paul Krugman

Do we really need yet another book about the financial crisis? Yes, we do—because this one is different. Instead of focusing on the errors and abuses of the bankers, Fox…tells the story of the professors who enabled those abuses under the banner of the financial theory known as the efficient-market hypothesis. Fox's book is not an idle exercise in intellectual history, which makes it a must-read for anyone who wants to understand the mess we're in.