Debunking Economics: The Naked Emperor of the Social Sciences

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9781856499927: Debunking Economics: The Naked Emperor of the Social Sciences

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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From the Publisher:

Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. Many of the most cherished notions of conventional economics are based on reasoning that is internally inconsistent.

Debunking Economics explains why economists think the way they do, and points out the flaws in their thinking which they either don’t realize, don’t appreciate, or just plain ignore. Most of these flaws were established by dissident academic economists decades ago, yet modern economics pretends that it can continue with ‘business as usual’. In a profound irony, Debunking Economics shows that a discipline which labours the word ‘rational’ may be the most irrational of all.

About the Author:

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

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