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Economics of the 1% : How Mainstream Economics Serves the Rich, Obscures Reality and Distorts Policy

Author: John Weeks
Publisher: Cambridge : Cambridge University Press, 2014.
Series: Anthem other canon economics.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
How much do economists really know? In most cases, they claim to have profound knowledge but in fact understand little and obscure almost everything. This book exposes the myths of mainstream economics and explains why current policies fail to serve the interests of the vast majority of people in the United States, Europe and elsewhere. Instead, they serve the few, increasing inequality and poverty.
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Weeks, John F.
Economics of the 1% : How Mainstream Economics Serves the Rich, Obscures Reality and Distorts Policy.
London : Anthem Press, ©2014
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: John Weeks
ISBN: 9780857281159 0857281151 9780857281173 0857281178
OCLC Number: 889950100
Notes: Title from publishers bibliographic system (viewed on 11 Apr 2014).
Description: 1 online resource.
Contents: Economics of the 1%_9780857281081; Title; Copyright; CONTENTS; Preface DR BOB'S THIRD LAW; Further Reading; Web addresses for progressive economists; Introduction ECONOMIC IGNORANCE; Further Reading; Chapter 1 FAKECONOMICS AND ECONOMICS; Idolatry of Competition; Teflon Pseudoscience; How Real Markets Operate; Where Econfakers Dwell; Fakeconomics and Economics: Name and Shame; Further Reading; Price discrimination; Nonsense-free economics; The nonsense itself (approach with great care); Chapter 2 MARKET WORSHIP; What Is Competition?; Why Markets Go Bad; The "Labor Market." Workers Cause Their Unemployment?Further Reading; How markets work; Chapter 3 FINANCE AND CRIMINALITY; Why a Financial Sector?; Cost of the Financial Crisis; Financial Markets: Folks like You and Me; Further Reading; For the technical stuff simply presented; Chapter 4 SELLING MARKET MYTHS; Designing Deception; Resources Are Scarce; The Supply and Demand Scam; Resources Abundant, Wants Limited; Nonsense of Consumer "Choice"; Further Reading; Chapter 5 RICHES, "SOVEREIGNTY "AND" FREE TRADE"; Even You Can Be Rich; Consumer Is Sovereign; Everyone Gains from Free Trade; Trivia pursuit. Further ReadingFor an impressively shallow defense of free trade; A balanced treatment of the World Trade Organization; The real economics of trade; The Chang-Bhagwati debate on trade and manufacturing; Chapter 6 LIES ABOUT GOVERNMENT; Government Is a Burden; Wasting Money on Social(ist) Spending; Markets and Governments; Further Reading; Chapter 7 DEFICIT DISORDERS AND DEBT DELIRIUM; Peddling Nonsense; Public and Private: Debts and Deficits; Calculating Public Deficits; US GDP and public finances, 2005-2010 (billions of dollars and percentages); Calculating Public Debt. US public debt, end of 2010Interest payments on public debt, percentage of GDP, 2010; Further Reading; Chapter 8 GOVERNMENTS CAUSE INFLATION?; Fears of Inflation; What Is Money?; Too Much Money Causes Inflation?; What Is Inflation?; Why Do Prices Go Up?; Inflation Fears: A Class Act; Chapter 9 INSTITUTIONALIZED MISERY: AUSTERITY IN PRACTICE; Balanced Budget Ideology; Deficit Disorder in the Land of the Free; Fear and Financial Market Loathing in the UK; Great Euro Scam; 99% in Thrall to the 1%; Chapter 10 ECONOMICS OF THE 99%; Wealth Accumulates and Democracy Decays.
Series Title: Anthem other canon economics.
Responsibility: John Weeks.

Abstract:

How much do economists really know? In most cases, they claim to have profound knowledge but in fact understand little and obscure almost everything. This book exposes the myths of mainstream economics and explains why current policies fail to serve the interests of the vast majority of people in the United States, Europe and elsewhere. Instead, they serve the few, increasing inequality and poverty.

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