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Seven bad ideas : how mainstream economists have damaged America and the world / Jeff Madrick.

By: Material type: TextTextPublisher: New York : Alfred A. Knopf, 2014Description: 254 pages ; 22 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 0307950727 (trade paperback)
  • 0307961184 (hardback)
  • 9780307950727 (trade paperback)
  • 9780307961181 (hardback)
Other title:
  • How mainstream economists have damaged America and the world
Subject(s): Summary: "The author of the widely praised Age of Greed now gives us a bold indictment of some of our most accepted economic theories-why they're wrong, the harm they've done, and the theories that would vastly improve on them. Jeff Madrick-former New York Times business columnist and now Harper's economics columnist-mounts a comprehensive case against prevailing mainstream economic thinking, illustrating how it has damaged markets, infrastructure, and individual livelihoods, causing hundreds of billions of dollars of wasted investment; financial crisis after financial crisis; poor public education and public transportation; gross inequality of income and wealth, and stagnating wages; uncontrolled military spending; and a failed healthcare system that delivers far less than it costs. Using the Great Recession as his foremost case study, Madrick shows how the decisions America should have made before, during, and after the financial crisis were suppressed by popular theory, and how the consequences are still being felt here and around the globe. And he examines the too-often-marginalized good ideas of modern economics, and convincingly argues just how beneficial they might be if only they can gain greater traction among policy makers"-- Provided by publisher.
Holdings
Item type Home library Collection Call number Materials specified Status Date due Barcode Item holds
Adult Book Adult Book Main Library NonFiction 330.973 M183 Available 33111007622398
Total holds: 0

Enhanced descriptions from Syndetics:

From the former economics columnist for Harper's and The New York Times, a bold indictment of some of our most accepted mainstream economic theories--why they're wrong, and how they've been harming America and the world.

Ideas have the power to change history. But what happens when they are bad? In a tour de force of economics, history, and analysis, Jeff Madrick shows how theories on austerity, inflation, and efficient markets have become unassailable mantras over recent years, to the detriment of the country as a whole. Working backwards from the Great Recession, Madrick pulls no punches as he reconsiders seven of the greatest false idols of modern economic theory, from Say's Law to Milton Friedman, illustrating how these ideas have been damaging markets, infrastructure, and individual livelihoods for years. Trenchant, sweeping, and empirical, Seven Bad Ideas resoundingly disrupts the status quo of modern economic theory.

Includes bibliographical references (pages 231-242) and index.

"The author of the widely praised Age of Greed now gives us a bold indictment of some of our most accepted economic theories-why they're wrong, the harm they've done, and the theories that would vastly improve on them. Jeff Madrick-former New York Times business columnist and now Harper's economics columnist-mounts a comprehensive case against prevailing mainstream economic thinking, illustrating how it has damaged markets, infrastructure, and individual livelihoods, causing hundreds of billions of dollars of wasted investment; financial crisis after financial crisis; poor public education and public transportation; gross inequality of income and wealth, and stagnating wages; uncontrolled military spending; and a failed healthcare system that delivers far less than it costs. Using the Great Recession as his foremost case study, Madrick shows how the decisions America should have made before, during, and after the financial crisis were suppressed by popular theory, and how the consequences are still being felt here and around the globe. And he examines the too-often-marginalized good ideas of modern economics, and convincingly argues just how beneficial they might be if only they can gain greater traction among policy makers"-- Provided by publisher.

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