John Cassidy
John Cassidy is a British-American writer known for his work in economics and business. Born in Leeds, England, in 1963, he graduated from Oxford University in 1984 and later pursued advanced studies in journalism and economics in New York. Cassidy's career began with the Sunday Times of London, where he served as Washington, DC, bureau chief and business editor before transitioning to the New York Post and ultimately becoming a staff writer for the New Yorker in 1995. His influential books include "Dot.Con: The Greatest Story Ever Sold," which critiques the dot-com bubble, and "How Markets Fail: The Logic of Economic Calamities," a finalist for the Pulitzer Prize that explores human behavior's impact on economic crises.
Cassidy's writing often addresses themes of economic instability and the need for better oversight in the financial sector, making him a significant voice in discussions about economics and politics, especially following the 2008 financial crisis. He has also contributed to various media outlets, including the BBC and the New York Review of Books. Living in New York City with his wife, novelist Lucinda Rosenfeld, Cassidy continues to engage with contemporary economic issues, asserting his role as a thought leader in the field.
On this Page
Subject Terms
John Cassidy
Writer
- Born: 1963
- Place of Birth: Leeds, England
Contribution: John Cassidy is a British American economics and business writer. His book on the 2008 global financial crisis, How Markets Fail: The Logic of Economic Calamities (2009), was a finalist for the Pulitzer Prize.
Background
John Cassidy was born in Leeds, West Yorkshire, England, in 1963. He is a 1984 graduate of Oxford University. Following his undergraduate study, Cassidy began graduate work in New York City under the auspices of the Harkness Fellowship for international scholarship. In the 1980s, Cassidy earned an MA degree in journalism from Columbia and an MA degree in economics from New York University.
Career
In 1986, Cassidy joined the Sunday Times of London as the paper’s Washington, DC, bureau chief, and from 1991 to 1993, he served as the paper’s business editor. In 1993, Cassidy joined the New York Post, where he worked as the paper’s business editor before serving as deputy editor.
In 1995, Cassidy became a staff writer for the New Yorker magazine, offering commentary and analysis on a variety of topics in the world of economics, including analysis of prominent figures and global industries. In September 2009, Cassidy began penning a biweekly blog, entitled “Rational Irrationality,” on the New Yorker’s website dedicated to commentary and analysis on politics and economics.
Cassidy’s first book, Dot.Con: The Greatest Story Ever Sold, was published in 2002. In it, Cassidy examined the financial implications that led to the creation of what financial experts refer to as the “dot-com bubble” of economic investment; one that saw millions of speculative dollars flow into Internet companies of all sizes throughout the 1990s.
In Dot.Con, Cassidy asserted that the dangerous and ultimately unstable economic speculation that led to the bubble’s collapse was largely the product of prominent journalists and policymakers who viewed rapidly advancing and little-known technological developments as an opportunity to take advantage of venture capitalists.
Cassidy’s 2009 book How Markets Fail: The Logic of Economic Calamities examined how less desirable human behaviors such as overconfidence, mimicry, groupthink, and myopia give rise to increasingly common macroeconomic trouble. The central thesis of How Markets Fail is that the role of human irrationality in a volatile global marketplace is becoming more, not less, connected to ceaseless synchronization of both social and business environments. Cassidy also focuses on the increasing insolvency and lack of government oversight of many financial institutions, particularly those who maintain the majority of control and influence over the global marketplace. The book was a 2010 finalist for the Pulitzer Prize for general nonfiction.
Cassidy continued to write into the 2020s, offering critical analysis of other texts in finance and economics as a contributor to the New York Review of Books. He is also a frequent contributor of financial commentary for the BBC and has contributed to some of the New Yorker's podcast segments.
Impact
John Cassidy is regarded as one of the world’s preeminent writers on the intersection of economics and politics. In an era of increasing demands for financial oversight and transparency, particularly in the wake of the 2008 financial market collapse, he remains a crucial voice for investors and consumers. Though his oft-controversial theories are a matter of consistent debate in the financial world, Cassidy’s analysis of the impact of contemporary business and social development in the financial sector is widely considered a source of imaginative insight and experience.
Personal Life
John Cassidy lives in New York City with his wife, American novelist Lucinda Rosenfeld.
Bibliography
Cassidy, John. “Rational Irrationality: Archives.” New Yorker 5 Oct. 2009: 30–35. Print.
Douthat, Ross. “The Heresies of John Cassidy.” New York Times. New York Times, 30 Mar. 2010. Web. 25 July 2013.
"John Cassidy." The New Yorker, 2024, www.newyorker.com/contributors/john-cassidy. Accessed 23 Sept. 2024.
Johnson, Cory. Rev. of Dot.Con: The Greatest Story Ever Sold, by John Cassidy. Wired 10.3 (2002). Condé Nast Digital. Web. 25 July 2013.
Taintor, David. “John Cassidy Hopes His Writing Infuriates the Obama and Romney Campaigns.” Talking Points Memo. TPM Media, 13 July 2012. Web. 25 July 2013.