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Butterfly Economics: A New General Theory of Economic and Social Behaviour
 
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Butterfly Economics: A New General Theory of Economic and Social Behaviour (Paperback)

by Paul Ormerod (Author)
4.8 out of 5 stars  See all reviews (5 customer reviews)

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Product details

  • Paperback: 240 pages
  • Publisher: Faber and Faber; New edition edition (6 Sep 1999)
  • Language English
  • ISBN-10: 0571197264
  • ISBN-13: 978-0571197262
  • Product Dimensions: 19.6 x 12.2 x 2 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (5 customer reviews)
  • Amazon.co.uk Sales Rank: 523,885 in Books (See Bestsellers in Books)

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Product Description

Review

"'A fascinating and entertaining introduction to the economics of the 21st century.' New Scientist; 'Ormerod returns repeatedly to the systematic failure of economists' predictions. If you have ever wondered why they get it wrong, time after time, then you should read this book. It explains in clear, non-technical language why the traditional assumptions of economists make most of their theories hopeless.' Alasdair Palmer, Sunday Telegraph; 'An important book which everybody even remotely interested in political economy should read.' Larry Elliott, Guardian; 'As witty and wide-ranging as it is rigorous, Butterfly Economics provides excellent reasons for business and economics to start talking to each other again.' Observer"


Product Description

The economy is like society itself, he argues: a complex system living on the edge of chaos. Conventional economics has always failed to predict and manage its fluctuations. Governments and businesses need to adopt quite different mindsets and less heavy-handed approaches. Hence Butterfly Economics.

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Customer Reviews

5 Reviews
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Average Customer Review
4.8 out of 5 stars (5 customer reviews)
 
 
 
 
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5 of 5 people found the following review helpful:
4.0 out of 5 stars Well worth a read, 14 Aug 2005
By T. PERRY "tomperry84" (England) - See all my reviews
(REAL NAME)   
This is an interesting and thought-provoking book, I would highly recommend as reading for economics students/academics.
One criticism I would make is that it seems to be slightly dated in places, it was published in 1998 and Paul Ormerods' economics degree I believe dates back to the 70s. Some points along the lines of "this is a failing of orthodox economics" I found myself thinking: actually, I studied precisely that last semester! So whereas his disparaging view of orthodox economics is largely justified, the somewhat sensational depiction of economists as generally clueless will certainly sell more copies, yet I feel is far from accurate.
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15 of 17 people found the following review helpful:
5.0 out of 5 stars This is a big step forward in the social sciences, 23 Jan 2000
By B. Rosewell (London) - See all my reviews
(REAL NAME)   
This book shows how modern techniques of analysis drawn from physics and biology are beginning to pur real science into social sciences. With applications from crime to consumers, from cycles to stock markets, Paul Ormerod shows how really to understand what is going on in the world around us.

This is a book which should be read by anyone who wants to think about how the world ticks and it is written in accessible language with lots of examples.

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8 of 9 people found the following review helpful:
5.0 out of 5 stars Illuminating..., 6 Oct 1999
By A Customer
This book introduces a new economic model. Like all the best explanations of "how the world works", this model is both simple, obvious and it fits the facts. To put this into perspective I could explain it to a man on the street in 5 minutes.

Its a paradigm shift in the making.

This book will change the way you think. I recommend it as essential reading.

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Most Recent Customer Reviews

5.0 out of 5 stars Should be called 'Ant Economics'
Ormerod unveils an experiment with social insects. (Ants).
From that he deduces that social beings have 3 modes of behavior.
Repetition, random, imitate. Read more
Published on 7 April 2003 by dbgscotland

5.0 out of 5 stars More fun for social scientists
In many ways this book is similar to The Death of Economics. The main reason for buying it is that it is far easier to read. Read more
Published on 17 Sep 2000 by b.mills@cornwall.ac.uk

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