Fixed
Why Personal Finance Is Broken and How to Make It Work for Everyone
John Y. Campbell and Tarun Ramadorai on why household finance goes wrong. Drawing on evidence from the United States, the United Kingdom and India, they show that financial mistakes are widespread, persistent and concentrated among those who can least afford them, and that markets often profit from the confusion rather than correcting it. Their remedies are regulatory rather than educational.
Recommended by 1 Person
Jason Furman
At its core, the book is about the persistent fragility of household finances and why market forces alone don’t fix it. Drawing on evidence from the United States, the United Kingdom, and India, John Campbell (another colleague of mine) and Tarun Ramadorai show that financial illiteracy is widespread and remarkably persistent. This wouldn’t be quite so troubling if financial markets were forgiving, but they aren’t.
Interview · December 2025
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