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The Econocracy: The Perils of Leaving Economics to the Experts (Manchester Capitalism) Paperback – 3 Nov 2016

5.0 out of 5 stars 2 customer reviews

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Product details

  • Paperback: 232 pages
  • Publisher: Manchester University Press (3 Nov. 2016)
  • Language: English
  • ISBN-10: 152611013X
  • ISBN-13: 978-1526110138
  • Product Dimensions: 21.6 x 1.5 x 13.7 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: 23,098 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

Review

Economics has become the organising principle, the reigning ideology, and even the new religion of our time. And this body of knowledge is controlled by a selective priesthood trained in a very particular type of economics - that is, Neoclassical economics. In this penetrating analysis, based on very sophisticated theoretical reflections and highly original empirical work, the authors show how the rule by this priesthood and its disciples is strangling our economies and societies and how we can change this situation. It is a damning indictment for the economics profession that it has taken young people barely out of university to provide this analysis. Utterly compelling and sobering --Ha-Joon Chang, Reader in Political Economy of Development at the University of Cambridge and Author of Economics: The User's Guide

A rousing wake-up call to the economics profession to re-think its mission in society, from a collective of dissident graduate students. Their double argument is that the 'econocracy' of economists and economic institutions which has taken charge of our future is not fit for purpose, and, in any case, it contradicts the idea of democratic control. So the problem has to be tackled at both ends: creating a different kind of economics, and restoring the accountability of the experts to the citizens. The huge nature of the challenge does not daunt this enterprising group, whose technically assured, well-argued, and informative book must be read as a manifesto of what they hope will grow into a new social reform movement. --Lord Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and Fellow of the British Academy in History and Economics

If war is too important to be left to the generals, so is the economy too important to be left to narrowly trained economists. Yet, as this book shows, such economists are precisely what we are getting from our leading universities. Given the role economists play in our society, we need them to be much more than adepts in manipulating equations based on unrealistic assumptions. This book demonstrates just why that matters and offers thought-provoking ideas on how to go about it --Martin Wolf, Associate Editor and Chief Economics Commentator at the Financial Times

About the Author

Joe Earle, Cahal Moran and Zach Ward-Perkins are founding members of the Post-Crash Economics Society at the University of Manchester


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Format: Paperback
Clear, coherent and incredibly important. A fantastic read that's accessible to and relevant for the economics professor as well as the regular person who feels like they don't have a clue about what economics is.

The authors describe the econocracy, outline its problems and describe its emergence, owing largely to the dire state of the economics discipline. In a balanced and reasonable manner, they criticise 'the dismal science' as practised today. In particular, they bring to light the 'indoctrination' that university students of economics receive and how it reinforces the existence of the econocracy.

Drawing upon their experiences as economics students and key figures in the 'pluralist movement', the authors have produced economic literature of its own kind.
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Format: Hardcover
This book helps us to gain a better understanding of the underlying influences within current populist movements, partially resulting in both a Trump presidency and Brexit. As well as giving a detailed account of disillusionment people feel towards accredited economists and their analysis in favor of 'truthism' and false promises. It is a sophisticated rendition of the primary source of the apathetic attitude most people feel towards the study of economics.

Even if you don't necessarily agree with all parts of the book (which I can relate to), it is vital that you read this book to raise some critical issues. Not only within the study of economics but also with the current state of disenfranchised working class and unequal state of both the developed and developing the world.

This won't be the last you will see from these up and coming economic and political thinkers.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 5.0 out of 5 stars 1 review
0 of 2 people found the following review helpful
5.0 out of 5 stars The description of this book seems to hijacked 6 Nov. 2016
By Marian Postfossil - Published on Amazon.com
Format: Paperback
As I was interested in this book, and there was no review, I started to read the book's description. Obviously, there is something very wrong with it.
For example the descrition goes like this: "Martin Wolf, Associate Editor and Chief Economics Commentator at the Financial Times An interesting and highly pertinent book. Noam Chomsky Economics, as practiced in university economics departments, regurgitated by policy makers, and summarised in the mainstream media, has become a form of propaganda. This superb book explains how: dangerous ideology is hidden inside a mathematical wrapper."
Now, if you look at the publisher's page, Martin Wolf is quoted quite differently: "'If war is too important to be left to the generals, so is the economy too important to be left to narrowly trained economists. Yet, as this book shows, such economists are precisely what we are getting from our leading universities. Given the role economists play in our society, we need them to be much more than adepts in manipulating equations based on unrealistic assumptions. This book demonstrates just why that matters and offers thought-provoking ideas on how to go about it.' Martin Wolf, Associate Editor and Chief Economics Commentator at the Financial Times"
My guess is that someone has deliberately destorted the book's description. This is why I give it a five stars recommendation without having read it. If someone thinks a book is so important that you have to denounce it through an utterly misleading description, than it must be important.
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