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).
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In most European countries, the proceeds of economic growth in the past twenty
years have not been used to generate new jobs but have been appropriated by
those who have remained in employment. Over this period, the real incomes of ...
The growth rates of many Western economies from the late 1970s, once the initial
impact of the oil -price shock had been absorbed, have been similar to each
other, at an average of around 2 per cent a year in real terms. Yet against this ...
Smith and Karl Marx, for example - gave a high priority to the study of the process
of economic growth. They regarded the profitability of industry as a key
determinant of growth, and economic theory in the first half of the nineteenth
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THE DEATH OF ECONOMICSUser Review - Jane Doe - 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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