Not that he simply promotes the idea of a return to past policies and practices. Quiggin suggests the solution lies in honestly rethinking the experience of the 20 th century and developing a new approach. More on equity, less on efficiency.
More on humility, less on hubris. His challenge to those engaged in such pursuits is to objectively recognize what has worked and what has failed. Hopefully such thinking will help us out of the horror film our times has been transformed into. Frederick Barr has been involved in communications for over 25 years, first as a creative professional in advertising and design, and more recently as an information activist. Nike nixes flag design shoe after Kaepernick questions white supremacist symbolism.
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John Quiggin: Zombie Economics: How Dead Ideas Still Walk among Us
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Quiggin delves deeply into the origins and development of all the star culprits so loved by the economic right in recent decades: from the efficient markets hypothesis to privatization and Real Business Cycle Theory. None has stood up to the stern test posed by real markets and economies in crisis. Yet most live on, still featured in many curriculums and advocated by those academics who have staked their careers on them. It's the rare read that's both thoughtful and fun. Quiggin uses the global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been--to use zombie terminology--killed by our current predicament.
Economics students and interested lay readers will find this valuable. They are dangerous yet impossible to kill.
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Even after a financial crisis buries them, they survive in our minds and can rise unbidden from the necropolis of ideology. It's the story of how economists forgot much of what they knew.
Please, guys, don't do that again. It's time to bury the zombie.
I encourage my colleagues in sociology, psychology, and management to read this book and leverage it to lead to a more integrated social science and, perhaps, a more socially aware economic science" Brent Goldfarb, Administrative Science Quarterly. Certainly a good companion for anyone hoping to navigate the swamps of messy, and failed economic ideas.
Zombie Economics: How Dead Ideas Still Walk Among Us : John Quiggin :
John Quiggin. But how does one slay economic zombies—ideas that should have died long ago but still shamble forward? Armed with nothing but the truth, John Quiggin sets about dispatching these dead ideas once and for all in this engaging book.