By investigating how these myths arose, why they gained traction, how to know they’re wrong, and what damage they’ve done, Jeff Madrick demands that we rethink what we imagine we know about economics, and suggests that we can prevent or, failing that, effectively solve the next Great Recession by tossing the old, bad ideas out and adopting an updated understanding of the dynamics involved in a prosperous, equitable, sustainable economy. It may take a lot to get policymakers, media, and the world to question and reject the proclamations of MIT and Harvard economists, but Madrick’s book hopes to contribute to that effort.
|By: Jesse Myerson Saturday November 29, 2014 1:59 pm|
|By: masaccio Sunday July 24, 2011 12:50 pm|
If economics were a science, professors would sic their grad students on a paper by Casey Mulligan explaining that the minimum wage hike in 2009 cost 800,000 jobs.
|By: masaccio Sunday August 29, 2010 10:30 am|
Professor Uwe Rhinehardt may be opening the door to reconsideration of the role of economists in deciding social policy. It’s about time.