What Went Wrong with Economics: The flawed assumptions that led economists astray - Softcover

Reiss, Michael

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9781463670290: What Went Wrong with Economics: The flawed assumptions that led economists astray
Softcover
ISBN 10: 146367029X ISBN 13: 9781463670290
Publisher: CreateSpace Independent Publishing Platform, 2011

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

"About this title" may belong to another edition of this title.

Publisher
CreateSpace Independent Publishing Platform
Publication date
2011
Language
English
ISBN 10 
146367029X
ISBN 13 
9781463670290
Binding
Paperback
Number of pages
226
Rating
  • 4.00 out of 5 stars
    15 ratings by Goodreads