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Synopsis
In April 2007, a report produced by the International Monetary Fund concluded that the world economy was in great shape only for the biggest economic crisis since the Great Depression to hit just months later. How could economists have got it so wrong? When engineers try to understand complex systems, they are forced to make simplifying assumptions. Sadly if these are flawed, no amount of mathematical wizardry will repair the damage. This book examines the possibility that the problem with economics stems from flawed assumptions. It appears that mainstream economics set off on the wrong foot.This book uncovers many such flaws and shows how the resulting bad economic theories have devastating consequences.Dr Michael Reiss shows how, with more realistic assumptions, economics, and our economic system, can be rescued.
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About the Author
Michael Reiss is Pro-Director: Research and Development and Professor of Science Education at the Institute of Education, University of London
Review
"This book is required reading for anyone who would like to see a radically different economic system replace the current, confused mess. Michael Reiss has made a great contribution the debate about economic renewal, and his timing could not have been better." - renegadeeconomist.com
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What Went Wrong with Economics: The flawed assumptions that led economists astray
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