Economyths
11 Ways Economics Gets it Wrong
Published on 6. July 2017
Book
Paperback/Softback
320 pages
978-1-78578-229-9 (ISBN)
Description
When Economyths was first published in 2010, David Orrell showed how mainstream economics is based on key myths such as fair competition, rational behaviour, stability and eternal growth - and how these myths lead paradoxically to their opposites: inequality, an irrational economy, financial instability and a collision with nature's limits.
Since then, we've had Occupy, political upheaval, flash crashes in financial markets, the warmest few years in recorded history - and a growing chorus demanding fundamental reform. So how has economics responded?
In this revised and expanded edition, Orrell shows how the ten myths still dominate economics. He reveals their roots in thought that goes back to the ancient Greeks, making them hard to dislodge. And he uncovers, demolishes and develops an alternative to the greatest economyth of all - the one that will lead to the collapse of orthodox economics.
Since then, we've had Occupy, political upheaval, flash crashes in financial markets, the warmest few years in recorded history - and a growing chorus demanding fundamental reform. So how has economics responded?
In this revised and expanded edition, Orrell shows how the ten myths still dominate economics. He reveals their roots in thought that goes back to the ancient Greeks, making them hard to dislodge. And he uncovers, demolishes and develops an alternative to the greatest economyth of all - the one that will lead to the collapse of orthodox economics.
Reviews / Votes
A must read for understanding the roots of the financial crisis, the severe limitations of the field of economics and what needs to be done to improve our ability to avoid future crises. -- Spyros Makridakis, author of 'Dance With Chance' This is without doubt the best book I've read this year, and probably one of the most important books I've ever read.... Orrell exposes the rotten heart of economics... There are other books talking on economics, but I've not come across another that explains it so well for the layperson, takes in the credit crunch, totally destroys the validity of economics as we know it and should be required reading for every politician and banker. No, make that every voter in the land. This ought to be a real game changer of a book. Read it. -- Brian Clegg, Popular Science The author dissects ten fundamental misunderstandings ... Orrell manages to convincingly explain the relevance of these myths and make them understandable, even for laymen, in a wider context. -- HandelsblattMore details
Language
English
Place of publication
Duxford
United Kingdom
Product notice
Paperback (UK-B)
Dimensions
Height: 198 mm
Width: 129 mm
Thickness: 25 mm
Weight
326 gr
ISBN-13
978-1-78578-229-9 (9781785782299)
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Schweitzer Classification
Other editions
Additional editions
E-Book
07/2017
Icon Books
€7.99
Available for download
Person
David Orrell studied mathematics at the University of Alberta, and obtained his doctorate from Oxford University on the prediction of nonlinear systems. His work in applied mathematics and complex systems research has since led him to diverse areas such as weather forecasting, economics, and cancer biology. His work has been featured in the New Scientist, the Financial Times and on BBC Radio.