Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards

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Anthem Press, 2012 - Business & Economics - 246 pages
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Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards explores the workings of the modern global economy an economy in which competition has been corrupted and power has a ubiquitous influence upon economic behavior. Based on an array of empirical and theoretical studies by a series of distinguished economists, this book reveals a stark and unpleasant truth: that the true workings of capitalism are very different from the popular myths that mainstream economics would have us believe.

By connecting the dots and coloring the resulting picture with real life examples, this work provides a groundbreaking account of the mechanics of capitalism, and demonstrates how different groups and elites consistently further their own economic interests at the expense of others. Journeys into economic history allow the reader to travel to the source of the political power enjoyed by our current-day financiers, and unveil a whole host of systematic problems such as that our banks are the main beneficiaries of today s unstable, debt-oriented monetary system, or that leading economists often play a role in helping CEOs massively inflate their salaries without improving their performance that are today more pertinent, and prevalent, than ever.

To investigate these issues, Economists and the Powerful looks closely at the incentives pursued by economists, and explores the history of the economic doctrines supported in our current financial climate. Via this scrutinizing approach, the text approaches the most overlooked issue of all: the matter of how, when and why the questioning of power was erased from the radar screen of mainstream economics and the influence this subversive removal has had upon the modern financial world.

For more information please see the book website: http: //economistsandthepowerful.anthempressblog.com/

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Contents

Econ Power_01_Chap 01_p001046
1
Econ Power_02_Chap 02_p047106
47
Econ Power_03_Chap 03_p107140
107
Econ Power_04_Chap 04_p141162
141
Econ Power_05_Chap 05_p163206
163
Econ Power_06_Chap 06_p207220
207
Econ Power_07_AFWD_p221222
221
Econ Power_08_REF_p223240
223
Econ Power_09_Index_p241246
241
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About the author (2012)

Norbert Häring is the co-founder and director of the World Economics Association, editor of the "World Economic Review," and a correspondent for "Handelsblatt," the leading German business newspaper.

Niall Douglas is the Social Networking Coordinator of the World Economics Association, operates an expert IT consultancy firm and serves on international engineering standards committees within the ISO and IEEE.

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