Economics of the 1% : how mainstream economics serves the rich, obscures reality and distorts policy / John F. Weeks.
"Today's 'doctrine of choice' assures adults that they are competent to make serious personal decisions about healthcare, education and retirement plans. At the same time, most people are convinced that they are so ignorant of economics that they are not capable of holding an inf...
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Full Text (via Cambridge) |
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| Format: | eBook |
| Language: | English |
| Published: |
London :
Anthem Press,
[2014]
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| 245 | 1 | 0 | |a Economics of the 1% : |b how mainstream economics serves the rich, obscures reality and distorts policy / |c John F. Weeks. |
| 264 | 1 | |a London : |b Anthem Press, |c [2014] | |
| 300 | |a 1 online resource (227 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 504 | |a Includes bibliographical references (pages 205-222) and index. | ||
| 505 | 0 | |a Preface: Doctor Bob's Third Law -- Introduction: Economic ignorance -- Fakeconomics and economics. Idolatry of competition ; Teflon pseudoscience ; How real markets operate ; Where econfakers dwell ; Fakeconomics and economics: name and shame -- Market worship. What is competition? ; Why markets go bad ; The "labor market" ; Workers cause their unemployment? -- Finance and criminality. Why a financial sector? ; Cost of the financial crisis ; Financial markets: folks like you and me -- Selling market myths. Designing deception ; Resources are scarce ; The supply and demand scam ; Resources abundant, wants limited ; Nonsense of consumer "choice" -- Riches, "sovereignty" and "free trade." Even you can be rich ; Consumer is sovereign ; Everyone gains from free trade -- Lies about the government. Government is a burden ; Wasting money on social(ist) spending ; Markets and governments -- Deficit disorders and debt delirium. Peddling nonsense ; Public and private: debts and deficits ; Calculating public deficits ; Calculating public debt -- 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 -- 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% -- Economics of the 99% Wealth accumulates and democracy decays ; Fakeconomics and class struggle ; Open debate in economics ; Economics in a decent society ; Implementing economics for the 99% ; "Our future lies before us." | |
| 520 | |a "Today's 'doctrine of choice' assures adults that they are competent to make serious personal decisions about healthcare, education and retirement plans. At the same time, most people are convinced that they are so ignorant of economics that they are not capable of holding an informed opinion, and that economic issues must be left to experts. The so-called experts of the mainstream economics profession claim to have profound, inaccessible knowledge; in fact they understand little and obscure almost everything. Understanding the economy is not simple, but it is no more complicated than understanding the political system sufficiently to cast a vote. In straightforward language, John F. Weeks exposes the myths of mainstream economics and explains why current economic policies fail to serve the vast majority of people in the United States, Europe and elsewhere. He demonstrates that austerity policies have little theoretical basis and achieve nothing but inequality and misery. He goes on to explain how the current deficit and debt 'crises' in the United States and Europe are ideologically manufactured, unnecessary and simple to overcome. Drawing on examples from around the world, this book provides a bold alternative to the economics of the 1%. Their failure to serve the interests of the many results from their devoted service to the few"--The publisher | ||
| 588 | 0 | |a Print version record. | |
| 651 | 0 | |a United States |x Economic policy. | |
| 651 | 0 | |a United States |x Economic conditions. | |
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| 650 | 7 | |a Economic policy |2 fast | |
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