The first review

University of Wisconsin economist Menzie Chinn discussed Myth of the Rational Market on Econbrowser a few weeks ago (and said nice things about it), but today we've gotten the very first bona fide review of the book. It's in Library Journal (seven reviews down) and it's pretty positive, with a slightly aggravating twist at the end.

Reviewer Robbie Allen (of St. Johns River Community College in Palatka, Fla.) describes the book reasonably well, and writes that "Fox argues convincingly" that the efficient market hypothesis "has been eclipsed." But then he concludes, "The style here is journalistic, with personal stories that make
the book entertaining, but ultimately this is a history of academic
thought—complete with endnotes—and is best suited for students of
finance or people interested in financial theory."

Well, maybe in Palatka that's who it's best suited for. I certainly wrote the book with students of finance and people interested in financial theory in mind. But I also tried really really hard (and mostly succeeded, I think) in making it accessible to lay readers. A couple years ago I doubted whether many lay readers would ever think of buying such a book, but nowadays there's a pretty big audience of people interested in how financial markets (mal)function. Right?

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