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Title: Debunking Economics: The Naked Emperor of the Social Sciences by Steve Keen ISBN: 1-85649-992-8 Publisher: Pluto Press (Australia) Pub. Date: March, 2002 Format: Paperback Volumes: 1 List Price(USD): $27.50 |
Average Customer Rating: 4.78 (9 reviews)
Rating: 4
Summary: Good textbook companion
Comment: Academic economists will 'harumph' at this book on the grounds that it seeks merely to destroy undergraduate textbook economics, rather than hard-headed analytically sound economics. Such harumphing is double-edged.
On the one hand it means that it is not compulsory reading for (all) academic economists (although it must be said that the sections dealing with methodological issues and heterodox theories would be informative to academic economists of all stripes).
On the other hand it means that, by the harumphers' own logic, it IS compulsory reading for (at least) undergraduate economists because it does exactly what they condemn it for: lifting the scales from the undergraduate economist's eyes.
As an instructional text, it works best when read along side an undergrad macro/microeconomic textbook because not only does it reinforce the student's understanding of the basic theory, it extends it by means of critical analysis. If nothing else, it should wake a mildly interested student from his or her slumber and then promptly boot them down the road of Critical Engagement. (As I have discovered through first hand experience, it tends to turn students into annoying, and rewarding, interrogators of Received Wisdom.)
Rating: 5
Summary: Why mainstream economics is dangerously wrong!
Comment: This wonderful book written by a genuinely concerned economist clearly documents the main ideas of economics taught to undergraduates (the background to much research in economics) has been documented as being WRONG by research published in major economics journals.
Rating: 5
Summary: the myth of TINA dismantled
Comment: Keen has accomplished from the inside what many critics have attempted, and that is to decisively reveal the fatal flaws of neoclassical economics. Yes, it's a paper tiger, a giant with feet of clay, a Potempkin Village, or my favorite metaphor -- the thundering Wizard of Oz, which is really a little man behind a curtain. With Keen's book in hand, any professor ought to be able to effectively challenge the ruling TINA orthodoxy that "there is no alternative" to The Market. The supposedly iron laws of supply and demand are not iron after all, there is no One Perfect Equilibrium, so it's back to the political economy that prevailed prior to the "marginal revolution" -- politics matters, institutions matter, and the Masters of the World are nothing but Naked Emperors. Keen offers a section on alternatives, and he favors post-keynesian theory, but is fair to other approaches.
As Keen warns, this is not easy reading, and I can't imagine assigning it to undergraduates. Hopefully some economics professors will (I'm a sociologist). But it should be required reading for every professor and graduate student in the social sciences.
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Title: Economics As Religion: From Samuelson to Chicago and Beyond by Robert H. Nelson ISBN: 0271022841 Publisher: Pennsylvania State University Press Pub. Date: 01 June, 2002 List Price(USD): $19.95 |
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Title: Economics : A New Introduction by Hugh Stretton ISBN: 0745315313 Publisher: PLUTO PRESS Pub. Date: 01 March, 2000 List Price(USD): $35.00 |
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Title: The Death of Economics by Paul Ormerod ISBN: 0471180009 Publisher: Wiley Pub. Date: 15 August, 1997 List Price(USD): $16.95 |
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Title: The ABC's of Political Economy: A Modern Approach by Robin Hahnel ISBN: 0745318576 Publisher: PLUTO PRESS Pub. Date: 24 January, 2003 List Price(USD): $19.95 |
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Title: Butterfly Economics: A New General Theory of Social and Economic Behavior by Paul Omerod, Paul Ormerod ISBN: 0465053564 Publisher: Basic Books Pub. Date: 23 January, 2001 List Price(USD): $15.00 |
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