Debunking Economics: The Naked Emperor of the Social Sciences

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Zed Books, 2001 - Business & Economics - 335 pages
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What is the score card for economics at the start of the new millennium? While there are many different schools of economic thought, it is the neo-classical school, with its alleged understanding and simplistic advocacy of the market, that has become equated in the public mind with economics. This book shows that virtually every aspect of conventional neo-classical economics' thinking is intellectually unsound. Steve Keen draws on an impressive array of advanced critical thinking. He constitutes a profound critique of the principle concepts, theories, and methodologies of the mainstream discipline. Keen raises grave doubts about economics' pretensions to established scientific status and its reliability as a guide to understanding the real world of economic life and its policy-making.
  

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Contents

No more Mr Nice Guy
1
Foundations
21
The calculus of hedonism
23
The price of everything and the value of nothing
54
Size does matter
85
To each according to his contribution
110
Complexities
127
The holy war over capital
129
The sum of the parts
188
The price is not right
214
Alternatives
241
Finance and economic breakdown
243
Dont shoot me Im only the piano
258
Nothing to lose but their minds
269
There are alternatives
300
References
314

There is madness in their method
148
Lets do the Time Warp again
165

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About the author (2001)

Steve Keen is Senior Lecturer in Economics and Finance, University of Western Sydney.

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