Debunking economics : the naked emperor dethroned? / Steve Keen.

Format:

Book

Author/Creator:

Keen, Steve

Language:

English

Subjects (All):

Economics.

Economics--Sociological aspects.

Economics--History.

History.

Economics--Methodology--Evaluation.

Economics--Methodology.

Evaluation.

Physical Description:

xviii, 477 pages : illustrations ; 24 cm

Edition:

Revised and expanded edition.

Place of Publication:

London ; New York : Zed Books Ltd, 2011.

Summary:

Debunking Economics exposes what a minority of economists have long known and many of the rest of us have long suspected, that economic theory is not only unpalatable, but also plain wrong. When the first edition was published in 2001, economists basked in the limelight of a seemingly invincible market economy. But the economy's performance, as Steve Keen argued, had nothing to do with neoclassical economic theory and gave policy-makers the false confidence to begin to dismantle the very institutions designed to limit market instability. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression.

In this updated and expanded edition, Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics is a signpost to a better future. Book jacket.

Contents:

1 Predicting the 'unpredictable2

2 No more Mr. Nice guy

Part 1 Foundations

The logical flaws in the key concepts of conventional economics

3 The calculations of hedonism

4 Size does matter

5 The price of everything

6 To each according to his contribution

Part 2 Complexities

Issues that should form part of an education in economics, but which are omitted from standard courses

7 The holy war over capital

8 There is madness in their method

9 Let's do the Time Warp again

10 Why they didn't see it coming

11 The price is not right

12 Misunderstanding the Great Depression and the Great Recession

Part 3 Alternatives

Different ways to think about economics

13 Why I did see " It' coming

14 A Monetary Model of Capitalism

15 Why stock markets crash

16 Don't shoot me, I'm only the piano

17 Nothing to lose but their minds

18 There are alternatives.

Notes:

Previous ed.: Annandale, N.S.W.: Pluto, 2001.

Includes bibliographical references (pages 461-471) and index.

ISBN:

1848139934

9781848139930

9781848139923

1848139926

OCLC:

758415476