Description

Book Synopsis

From the former economics columnist for Harper’s and The New York Times, a bold indictment of some of our most accepted mainstream economic theories—why they’re wrong, and how they’ve been harming America and the world.

Ideas have the power to change history. But what happens when they are bad? In a tour de force of economics, history, and analysis, Jeff Madrick shows how theories on austerity, inflation, and efficient markets have become unassailable mantras over recent years, to the detriment of the country as a whole. Working backwards from the Great Recession, Madrick pulls no punches as he reconsiders seven of the greatest false idols of modern economic theory, from Say’s Law to Milton Friedman, illustrating how these ideas have been damaging markets, infrastructure, and individual livelihoods for years. Trenchant, sweeping, and empirical, Seven Bad Ideas resoundingly disrupts the status quo of modern economic theory.

Seven Bad Ideas How Mainstream Economists Have

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    A Paperback / softback by Jeff Madrick

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      Publisher: Random House USA Inc
      Publication Date: 18/08/2015
      ISBN13: 9780307950727, 978-0307950727
      ISBN10: 0307950727
      Also in:
      Economic theory and philosophy Political economy Central / national / federal government policies

      Description

      Book Synopsis

      From the former economics columnist for Harper’s and The New York Times, a bold indictment of some of our most accepted mainstream economic theories—why they’re wrong, and how they’ve been harming America and the world.

      Ideas have the power to change history. But what happens when they are bad? In a tour de force of economics, history, and analysis, Jeff Madrick shows how theories on austerity, inflation, and efficient markets have become unassailable mantras over recent years, to the detriment of the country as a whole. Working backwards from the Great Recession, Madrick pulls no punches as he reconsiders seven of the greatest false idols of modern economic theory, from Say’s Law to Milton Friedman, illustrating how these ideas have been damaging markets, infrastructure, and individual livelihoods for years. Trenchant, sweeping, and empirical, Seven Bad Ideas resoundingly disrupts the status quo of modern economic theory.

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