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Product Description
Amazon.co.uk Review
Drawing from sociology, psychology and even entomology (the study of insects), Ormerod argues that the control governments believe they exert over economies is illusory. He throws out the notion that individuals behave according to a clearly defined set of economic rules and argues that people are most likely to be influenced by the behaviour of others. Ormerod backs this up by citing the inability of companies to predict which will be the most popular toy each Christmas or which films will be hits with the consumer. Applying his theory to a wide variety of topics from the financial markets to voting behaviour, he argues effectively for less political intervention.
Ormerod lives up to his reputation as the thinking person's economist in this easy to digest book. His message to governments and businesses alike is to forget short-term intervention and in its place to think strategically by looking at the big picture and long-term results. --This text refers to an out of print or unavailable edition of this title.
Product Description
Scientific research can often seem obscure and even pointless to outsiders. Read the first page
Concordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
This book is a brilliant introduction for people tired of established, well respected economic theory that fails to catch up reality in 99% of the cases.
The reader will find a nice book to enter a very good explanation on how the economy really behaves, not worrying too much about maths. But this does not mean ideas are fussy or indetermined.
Nevertheless, bibliography is too short for those who want to go further into the issue of chaos applied to economics, and it still will require some more development to become a real full size general theory.
For a long time we have been taught, as economists, about wonderful mathematical complex systems that were not worth a penny, sometimes wondering what a doctor or an arquitect would feel if they had to learn by heart middle ages ideas on medicine or arquitecture, for heart surgery or building up the petronas towers. Like mister Ormerord says, using 19th century tools to solve 21st century problems.
This book is quite an intelectual challenge for all of us who do not take established economic thought as sacred and do not think that when reality and theorical predictions differ, reality is to be blamed for it.
It points loads of interesting questions, advancing the framework for a new general theory.
However, I miss a wider bibliography to go deeper in the issue. it would have contributed more to create a general theory if its ideas had been better organized.
It is a brilliant introduction to people who are seeking for an introduction on chaos applied to economics, setting aside mathematics.
Butterfly Economics is a must read for those who seek to prosper in the 21st century. Ignore Ormerod's information age thinking at your own peril.
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