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Debunking Economics (Digital Edition - Revised, Expanded and Integrated)

Debunking Economics (Digital Edition - Revised, Expanded and Integrated)
  • Author : Professor Steve Keen
  • Publisher : Zed Books Ltd.
  • Release : 2011-09-22
  • ISBN : 1780322194
  • Language : En, Es, Fr & De

Book Description :

Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition - this version of which includes fully integrated graphs and diagrams - Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.

Debunking Economics

Debunking Economics
  • Author : Professor Steve Keen
  • Publisher : Zed Books Ltd.
  • Release : 2011-09-22
  • ISBN : 1848139950
  • Language : En, Es, Fr & De

Book Description :

Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition, Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.

Applied Economics

Applied Economics
  • Author : Thomas Sowell
  • Publisher : Basic Books
  • Release : 2008-12-09
  • ISBN : 0786722703
  • Language : En, Es, Fr & De

Book Description :

This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the “creative” financing of home-buying that led to the current “subprime” mortgage crisis, the economics of organ transplants, and the political and economic incentives that lead to money earmarked for highways being diverted to mass transit and to a general neglect of infrastructure. On these and other topics, its examples are drawn from around the world. Much material in the first edition has been updated and supplemented. The revised and enlarged edition of Applied Economics retains the easy readability of the first edition, even for people with no prior knowledge of economics.

ECONcomics

ECONcomics
  • Author : Steve Keen
  • Publisher :
  • Release : 2018-02-27
  • ISBN : 9789527065976
  • Language : En, Es, Fr & De

Book Description :

eCONcomics is a series of three satires explaining why the science of economics has gone so terribly wrong. Written by Steve Keen, one of the few professional economists to correctly anticipate the global financial crisis of 2008, the comics lampoon the bizarre excuses provided by economists when their predictions for the economy fail. Again.

The Economics Anti-Textbook

The Economics Anti-Textbook
  • Author : Rod Hill,Professor Tony Myatt
  • Publisher : Zed Books Ltd.
  • Release : 2010-03-11
  • ISBN : 1848138296
  • Language : En, Es, Fr & De

Book Description :

Mainstream textbooks present economics as an objective science free from value judgements; that settles disputes by testing hypotheses; that applies a pre-determined body of principles; and contains policy prescriptions supported by a consensus of professional opinion. The Economics Anti-Textbook argues that this is a myth - one which is not only dangerously misleading but also bland and boring. It challenges the mainstream textbooks' assumptions, arguments, models and evidence. It puts the controversy and excitement back into economics to reveal a fascinating and a vibrant field of study - one which is more an 'art of persuasion' than it is a science. The Economics Anti-Textbook's chapters parallel the major topics in the typical text, beginning with a boiled-down account of them before presenting an analysis and critique. Drawing on the work of leading economists, the Anti-Textbook lays bare the blind spots in the texts and their sins of omission and commission. It shows where hidden value judgements are made and when contrary evidence is ignored. It shows the claims made without any evidence and the alternative theories that aren't mentioned. It shows the importance of power, social context and legal framework. The Economics Anti-Textbook is the students' guide to decoding the textbooks and shows how real economics is much more interesting than most economists are willing to let on.

Demand Side Economics

Demand Side Economics
  • Author : Alan Harvey
  • Publisher : Createspace Independent Pub
  • Release : 2012-07-01
  • ISBN : 9781478205807
  • Language : En, Es, Fr & De

Book Description :

There is an economics that works, that rescued the nation from the depths of the Great Depression, that organized the mobilization of World War II, that executed a successful transition from war to peace, that built the peace into prosperity, that explained the instability and decline, and that predicted the Great Financial Crisis. This economics was abandoned, partly for the benefit of a corporate oligarchy which now controls public policy. This economics now points the way out of stagnation and uncertainty, and it embraces the challenges of world poverty and global climate change. This is the economics of John Maynard Keynes and the new Deal. Demand Side Economics draws the history and explains the thinking of nine great economists. This is a cogent treatment of complex events and concepts that will lead the reader to an understanding of what happened and why. The policy answers it projects are 180 degrees from the austerity, small government and bail-outs for the few that is the current path. Massive private debt has conspired with an orthodox economics that literally ignores that debt to put the world in a financial vise. Public policy is controlled by those who must save an architecture that cannot be saved. Markets have become casinos, with chips provided by central banks, whose players keep the winnings, but shift any losses onto the taxpayer. The foundations of sturdy, stable growth are ignored or abandoned to the detriment of all. Public goods, the Commons, the long-term survival of the planet, and the needs of the world's poor are not costs which must be minimized, but opportunities to create value and organize recovery. It is ignoring the great challenges that is truly unaffordable History, theory, evidence, presented clearly for the reader's own conclusions. We present John Maynard Keynes, the godfather of macoeconomics and Demand Side economics; Leon Keyserling, representing the New Deal and the successful transition from war to prosperity under Harry Truman John Kenneth Galbraith, with his unapologetic look at the character of affluence and the rise of the corporation; Hyman Minsky, exploring his financial instability hypothesis, the main line of Keynes into Finance; Joseph Stiglitz, looking at the cruel hoax of free market capitalism foisted on the developing world; James K. Galbraith, bringing insight into the capture of government by the corporation; George Soros, explaining how markets really work; Steve Keen, developing Minsky and Keynes into compelling economic models that actually predict real outcomes; Nouriel Roubini, taking apart the European debt and banking crisis, and presaging the trouble to come. The book suggest that central bankers do not understand how money is created. Market-first economists imagine an economy that does not exist. General equilibrium forecasters propose an invisible hand that does not exist. Elaborate mathematical expressions of the workings of the economy - "models" - present an elegant description, but of an entirely hypo-thetical world. Whole schools of economic thought, scores of careers, thousands of academic papers and texts have been built on patently false assumptions. Models commonly used to predict, even in the aftermath of a financial crisis born in the banking system, do not include a banking sector. Massive private debt is ignored, while at the same time the public sector - government - is excoriated for somehow slipping back through time to be the cause of the financial crisis. Jobs, physical and social infrastructure, and preparation for a looming climate crisis are all deemed too expensive to buy directly. This is exactly wrong. The first error of orthodox economics is that the economy is constrained by resources. It is constrained by demand. Direct spending on these critical needs is the route out of this Second Depression. Substantial, disciplined, public demand can right the economy for all sectors, and for our collective future.

Wind Power in Power Systems

Wind Power in Power Systems
  • Author : Thomas Ackermann
  • Publisher : John Wiley & Sons
  • Release : 2012-04-23
  • ISBN : 111994208X
  • Language : En, Es, Fr & De

Book Description :

The second edition of the highly acclaimed Wind Power in Power Systems has been thoroughly revised and expanded to reflect the latest challenges associated with increasing wind power penetration levels. Since its first release, practical experiences with high wind power penetration levels have significantly increased. This book presents an overview of the lessons learned in integrating wind power into power systems and provides an outlook of the relevant issues and solutions to allow even higher wind power penetration levels. This includes the development of standard wind turbine simulation models. This extensive update has 23 brand new chapters in cutting-edge areas including offshore wind farms and storage options, performance validation and certification for grid codes, and the provision of reactive power and voltage control from wind power plants. Key features: Offers an international perspective on integrating a high penetration of wind power into the power system, from basic network interconnection to industry deregulation; Outlines the methodology and results of European and North American large-scale grid integration studies; Extensive practical experience from wind power and power system experts and transmission systems operators in Germany, Denmark, Spain, UK, Ireland, USA, China and New Zealand; Presents various wind turbine designs from the electrical perspective and models for their simulation, and discusses industry standards and world-wide grid codes, along with power quality issues; Considers concepts to increase penetration of wind power in power systems, from wind turbine, power plant and power system redesign to smart grid and storage solutions. Carefully edited for a highly coherent structure, this work remains an essential reference for power system engineers, transmission and distribution network operator and planner, wind turbine designers, wind project developers and wind energy consultants dealing with the integration of wind power into the distribution or transmission network. Up-to-date and comprehensive, it is also useful for graduate students, researchers, regulation authorities, and policy makers who work in the area of wind power and need to understand the relevant power system integration issues.

Can We Avoid Another Financial Crisis?

Can We Avoid Another Financial Crisis?
  • Author : Steve Keen
  • Publisher : John Wiley & Sons
  • Release : 2017-05-09
  • ISBN : 1509513760
  • Language : En, Es, Fr & De

Book Description :

The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.

The Master and His Emissary

The Master and His Emissary
  • Author : Iain McGilchrist
  • Publisher : Yale University Press
  • Release : 2019-03-26
  • ISBN : 0300245920
  • Language : En, Es, Fr & De

Book Description :

A new edition of the bestselling classic – published with a special introduction to mark its 10th anniversary This pioneering account sets out to understand the structure of the human brain – the place where mind meets matter. Until recently, the left hemisphere of our brain has been seen as the ‘rational’ side, the superior partner to the right. But is this distinction true? Drawing on a vast body of experimental research, Iain McGilchrist argues while our left brain makes for a wonderful servant, it is a very poor master. As he shows, it is the right side which is the more reliable and insightful. Without it, our world would be mechanistic – stripped of depth, colour and value.