The Death of Economics"Important and ingenious . . . ought to be read by every educated person." —The Spectator. Renowned British economist Paul Ormerod explodes current economic theory to offer a radical new framework for understanding how human societies and economies really operate. His bold and impassioned arguments about how and why economics should be recast to reflect the current ills of Western society —including unemployment, crime, and poverty —are both persuasive and controversial. Integrating ideas from biology, physics, artificial intelligence, and the behavioral sciences, Ormerod's groundbreaking approach is sure to have far-reaching repercussions. "A clear, concise, and yet sophisticated history of economic thought that should be required reading for Economics 101 courses. The fundamental challenge is to view the economy more as an organism 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 dismal science." —Kirkus Reviews. "Crucial reading for the concerned citizen, which ought to mean all of us. . . . This book is very timely indeed." —The Observer "Economics has some battles to fight. . . . Unless economists improve their ability to analyze and prescribe in an intelligent way, and to provide a modicum of accuracy in their forecasts, the twentieth-century pseudoscience of economics will become a twenty-first-century museum piece." —Sunday Times (London). |
From inside the book
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... 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 as 1975 ...
... cent for the European Community . - High levels of unemployment are not a recent phenomenon . They have happened ... cent of the labour force , with a maximum of no less than 22 per cent . In today's terms , this average amounts to 8 ...
... cent , and in most cases by around 75 per cent , but that there has been virtually no net job creation . In some of the smaller European countries , such as Austria and Norway , however , employment has expanded , not on the same scale ...
Contents
Economics in Crisis | 3 |
Measuring Prosperity | 22 |
Roots of Economic Orthodoxy | 38 |
Copyright | |
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