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Description
Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. Many of the most cherished notions of conventional economics are based on reasoning that is internally inconsistent.
Debunking Economics explains why economists think the way they do, and points out the flaws in their thinking which they either don't realize, don't appreciate, or just plain ignore. Most of these flaws were established by dissident academic economists decades ago, yet modern economics pretends that it can continue with 'business as usual'. In a profound irony, Debunking Economics shows that a discipline which labours the word 'rational' may be the most irrational of all.
Table of Contents
2. The Calculus of Hedonism: Why the pursuit of individual self-interest does not maximise social welfare
3. The Price of Everything and the Value of Nothing: Why most products cost less to produce as output rises
4. Size Does Matter: Why the economic argument against monopolies is invalid
5. To Each According to His Contribution:
Why productivity doesn't determine wages
6. The Holy War over Capital: Why the productivity of capital doesn't determine profits
7. There is Madness in their Method: Why assumptions do matter
8. Let's Do the Time Warp Again: Why economics must finally treat time seriously
9. The Sum of the Parts: Why Keynes's criticisms of conventional economics are still relevant today
10. The Price is Not Right: Why finance markets can get the price of assets so badly wrong
11. Finance and Economic Breakdown: Why stock markets crash
12. Don't Shoot Me, I'm Only the Piano: Why mathematics is not the problem
13. Nothing to lose but their minds: Why Marxists are irrelevant, but Marx is not
14. There Are Alternatives: Why there is still hope for a better economics
Product details
| Published | 28 Jul 2001 |
|---|---|
| Format | Paperback |
| Edition | 1st |
| Extent | 352 |
| ISBN | 9781856499927 |
| Imprint | Zed Books |
| Dimensions | Not specified |
| Publisher | Bloomsbury Publishing |












