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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The second feature already noted is that an economy can be shifted off an
established path, away from an established pattern of behaviour. And when this
occurs, the change is rapid and dramatic, with no in-built tendency for the
economy to ...
In a subject like physiology, for example, where the initial symptoms of many
acute diseases show themselves in marked changes and irregularities in
previously regular rhythms and fluctuations of behaviour, such as patterns of
Paul Ormerod. the size of the fluctuations in the data over the course of the cycle,
but which suddenly exhibit patterns of irregular behaviour, before settling into a
new pattern of near-regularity. An important reason for the comparative failure of
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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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