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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Transparently, many more people relative to the level of demand are willing to
supply their labour to the financial markets than are willing to become teachers,
yet the price of the former product (the salary) is many times that of the latter.
One practical issue at present concerns whether prices in financial markets -
shares, exchange rates and so on - are either random or chaotic series.
Research over the years, often very sophisticated but nevertheless using
An important issue at present, certainly in the Anglo-Saxon economies, as we
noted in Chapter 3, is the extent to which short-term pressure from financial
markets results in profits being paid out in the form of dividends rather than being
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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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