Debunking Economics (Digital Edition - Revised, Expanded and Integrated): The Naked Emperor Dethroned?

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Zed Books Ltd., Sep 22, 2011 - Business & Economics - 496 pages
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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. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition - this version of which includes fully integrated graphs and diagrams - Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.
 

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User Review  - tonysomerset - LibraryThing

At last finally managed to finish the book and the pain can stop. Pain because it required perseverance, pain because it was so annoyingly written at times, pain because economic theory does not rest ... Read full review

Contents

Predicting the unpredictable
No more Mr Nice
Part 1
issues omitted from standard courses
There is madness in their method
Lets do the Time Warp again
Why they didnt see it coming
The price is not right
Misunderstanding the Great Depression and the Great
13
15
16
Bibliography
Copyright

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About the author (2011)

Steve Keen is Associate Professor of Economics & Finance at the University of Western Sydney. Steve predicted the financial crisis as long ago as December 2005, and warned that back in 1995 that a period of apparent stability could merely be 'the calm before the storm'. His leading role as one of the tiny minority of economists to both foresee the crisis and warn of it was recognised by his peers when he received the Revere Award from the Real World Economics Review for being the economist who most cogently warned of the crisis, and whose work is most likely to prevent future crises.

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