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The Econocracy: The Perils of Leaving…
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The Econocracy: The Perils of Leaving Economics to the Experts

by Joe Earle, Cahal Moran (Author), Zach Ward-Perkins (Author)

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Part of this book describes...: how the economic crisis turned into a crisis of economics. ...
The Econocracy makes three big arguments. First, economics has shoved its way into all aspects of our public life. Flick through any newspaper and you’ll find it is not enough for mental illness to cause suffering, or for people to enjoy paintings: both must have a specific cost or benefit to GDP. It is as if Gradgrind had set up a boutique consultancy, offering mandatory but spurious quantification for any passing cause.

Second, the economics being pushed is narrow and of recent invention. It sees the economy “as a distinct system that follows a particular, often mechanical logic” and believes this “can be managed using a scientific criteria”. It would not be recognised by Keynes or Marx or Adam Smith.

In the 1930s, economists began describing the economy as a unitary entity...

The most devastating evidence in this book concerns what goes into making an economist. The authors analysed 174 economics modules for seven Russell Group universities, making this the most comprehensive curriculum review I know of. ...

Critical thinking is not necessary to win a top economics degree. Of the core economics papers, only 8% of marks awarded asked for any critical evaluation or independent judgment. At one university, the authors write, 97% of all compulsory modules “entailed no form of critical or independent thinking whatsoever”.
 

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Author nameRoleType of authorWork?Status
Joe Earleprimary authorall editionscalculated
Moran, CahalAuthormain authorall editionsconfirmed
Ward-Perkins, ZachAuthormain authorall editionsconfirmed
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Amazon.com Product Description (ISBN 152611013X, Paperback)

One hundred years ago the idea of 'the economy' didn't exist. Now, improving the economy has come to be seen as perhaps the most important task facing modern societies. Politics and policymaking are conducted in the language of economics and economic logic shapes how political issues are thought about and addressed. The result is that the majority of citizens, who cannot speak this language, are locked out of politics while political decisions are increasingly devolved to experts. The econocracy explains how economics came to be seen this way - and the damaging consequences. It opens up the discipline and demonstrates its inner workings to the wider public so that the task of reclaiming democracy can begin.

(retrieved from Amazon Sat, 03 Dec 2016 06:30:26 -0500)

A particular, narrow way of thinking about the economy is dominant in society today. This book explores how this came to be, why the system cannot continue and how to build a better future.

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