The Death of Economics

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 understand

  • Title: The Death of Economics
  • Author: Paul Ormerod
  • ISBN: 9780471180005
  • Page: 416
  • Format: Paperback
  • 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 o 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 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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      416 Paul Ormerod
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      Posted by:Paul Ormerod
      Published :2018-05-08T07:21:49+00:00

    1 thought on “The Death of Economics”

    1. This fabulous little book makes on clear point: macro-economic systems are more than the sum of their parts. Now, for many of us we may say – yeah, so what? It is a biggie so what: orthodox economic theory – the stuff that helps determine government policy – all assumes that a macro-economic system (like a nation’s) is simply the sum of that system’s micro-economic decisions (that is you and me, saving, buying houses or underpants). What is more, this orthodox theory all assumes that w [...]

    2. This book offers up a nice critique of neoclassical economics and the assumptions it's predicated on. The author, Paul Ormerod, essentially urges readers to dismiss the thought that the economy operates like a machine. This is because economics is more akin to ecology than it is to, say, physics. Ormerod, then, further argues for a return to the 'political economy' practiced by the classical economists, like Adam Smith. In this framework the economy is seen as dependent on the social, cultural a [...]

    3. I had kept this book in my car for quite some time and had it as an emergency read when ever the need arose. So it had been read from traffic lights, the gym, the ER to carp parks. The book is well written and provides a basic introduction into economics. Though no 'Economics in One Lesson' it certainly is a good inclusion into anyone Econ collection. It is also a good book for first time readers and their desire to learn about the field of study that is Economics.80 %

    4. Excellent discussions of some of the (many) fundamental deficiencies of mainstream economics, and of better ways to analyse important economic phenomena. Well written for the "intelligent layperson". However it pulls its punches on the implications for mainstream economics, which needs simply to be displaced. Doesn't live up to its title.

    5. A good overview of what is wrong with the orthodox theories of economics. Has started me thinking about new ways to solve social problems, like unemployment, undervaluation of the caring professions, environmental degradation and lifting quality of life through productivity enhancements, education and improvements in technology.

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