The Death of Economics
"Important and ingenious . . . ought to be read by every educatedperson." —The Spectator.
Renowned British economist Paul Ormerod explodes currenteconomic theory to offer a radical new framework for understandinghow human societies and economies really operate. His bold andimpassioned arguments about how and why economics should be recastto reflect the current ills of Western society —includingunemployment, crime, and poverty —are both persuasive andcontroversial. Integrating ideas from biology, physics, artificialintelligence, and the behavioral sciences, Ormerod's groundbreakingapproach is sure to have far-reaching repercussions.
"A clear, concise, and yet sophisticated history of economicthought that should be required reading for Economics 101 courses.The fundamental challenge is to view the economy more as anorganism than a machine and place it in its larger political,social, and moral context." —The Washington Post
"A vigorous, informed, and thoughtful critique of the dismalscience." —Kirkus Reviews.
"Crucial reading for the concerned citizen, which ought to meanall of us. . . . This book is very timely indeed." —TheObserver
"Economics has some battles to fight. . . . Unless economistsimprove their ability to analyze and prescribe in an intelligentway, and to provide a modicum of accuracy in their forecasts, thetwentieth-century pseudoscience of economics will become atwenty-first-century museum piece." —Sunday Times(London).
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In Germany it was 6.7 per cent, in France 7.1 per cent, in Belgium 6.7 per cent
and in the Netherlands 7.7 per cent. The initial reaction to the oil-price shock was
also very similar, with inflation averaging 10-12 per cent in 1974. But by as early
Measuring unemployment as a percentage of the total of those in employment
plus the unemployed - the unemployment rate - gives a mid- 1993 figure of 7 per
cent for America and approaching 12 per cent for the European Community.
Between 1970 and 1992, the Spanish economy virtually doubled in size in real
terms, growing by 93 per cent But in 1992, employment was actually 2 per cent
less than it had been in 1970. The other economies in the EC show very similar ...
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THE DEATH OF ECONOMICSUser Review - Kirkus
An old Wall Street adage holds that if all the world's economists were laid end to end, they would never reach a conclusion. Ormerod suffers from no such inadequacy in this vigorous, informed, and ... Read full review
Roots of Economic Orthodoxy
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