Economyths

11 Ways Economics Gets it Wrong

Author: David Orrell

Publisher: Icon Books

ISBN: 1785782444

Category: Political Science

Page: 420

View: 9443

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When Economyths was first published in 2010, David Orrell showed how mainstream economics is based on key myths such as fair competition, rational behaviour, stability and eternal growth – and how these myths lead paradoxically to their opposites: inequality, an irrational economy, financial instability and a collision with nature’s limits. Since then, we’ve had Occupy, political upheaval, flash crashes in financial markets, the warmest few years in recorded history – and a growing chorus demanding fundamental reform. So how has economics responded? In this revised and expanded edition, Orrell shows how the ten myths still dominate economics. He reveals their roots in thought that goes back to the ancient Greeks, making them hard to dislodge. And he uncovers, demolishes and develops an alternative to the greatest economyth of all – the one that will lead to the collapse of orthodox economics.
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Introducing Economics

A Graphic Guide

Author: David Orrell

Publisher: Icon Books Ltd

ISBN: 1848317786

Category: Business & Economics

Page: 176

View: 3900

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A comic-book introduction to economics from David Orrell, the author of Economyths: 11 Ways Economics Gets it Wrong. With illustrations from Borin Van Loon. Part of the internationally-recognised Introducing Graphic Guide series. Today, it seems, all things are measured by economists. The so-called 'dismal science' has never been more popular - or, given its failure to predict or prevent the recent financial crisis, more controversial. But what are the findings of economics? Is it really a science? And how can it help our lives? Introducing Economics traces the history of the subject from the ancient Greeks to the present day. Orrell and Van Loon bring to life the contributions of great economists - such as Adam Smith, Karl Marx, John Maynard Keynes and Milton Friedman - and delve into ideas from new areas such as ecological and complexity economics that are revolutionizing the field.
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Quantum Economics

The New Science of Money

Author: David Orrell

Publisher: Icon Books

ISBN: 1785784005

Category: Business & Economics

Page: 304

View: 4078

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A decade after the financial crisis, there is a growing consensus that economics has failed and needs to go back to the drawing board. David Orrell argues that it has been trying to solve the wrong problem all along. Economics sees itself as the science of scarcity. Instead, it should be the science of money (which plays a surprisingly small role in mainstream theory). And money is a substance that turns out to have a quantum nature of its own. Just as physicists learn about matter by studying the exchange of particles at the subatomic level, so economics should begin by analysing the nature of money-based transactions. Quantum Economics therefore starts with the meaning of the phrase ‘how much’ – or, to use the Latin word, quantum. From quantum physics to the dualistic properties of money, via the emerging areas of quantum finance and quantum cognition, this profoundly important book reveals that quantum economics is to neoclassical economics what quantum physics is to classical physics – a genuine turning point in our understanding.
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When the Bubble Bursts

Surviving the Canadian Real Estate Crash

Author: Hilliard MacBeth

Publisher: Dundurn

ISBN: 1459742044

Category: Business & Economics

Page: 272

View: 2082

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Hilliard MacBeth argues that investors should stop thinking about real estate as a safe investment, warning that it is only a matter of time before Canada faces a housing crisis of major proportions. He guides investors towards safer and more lucrative investments in order to protect their assets and ensure a comfortable retirement.
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The Money Formula

Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets

Author: Paul Wilmott,David Orrell

Publisher: John Wiley & Sons

ISBN: 1119358612

Category: Business & Economics

Page: 264

View: 4270

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Explore the deadly elegance of finance's hidden powerhouse The Money Formula takes you inside the engine room of the global economy to explore the little-understood world of quantitative finance, and show how the future of our economy rests on the backs of this all-but-impenetrable industry. Written not from a post-crisis perspective – but from a preventative point of view – this book traces the development of financial derivatives from bonds to credit default swaps, and shows how mathematical formulas went beyond pricing to expand their use to the point where they dwarfed the real economy. You'll learn how the deadly allure of their ice-cold beauty has misled generations of economists and investors, and how continued reliance on these formulas can either assist future economic development, or send the global economy into the financial equivalent of a cardiac arrest. Rather than rehash tales of post-crisis fallout, this book focuses on preventing the next one. By exploring the heart of the shadow economy, you'll be better prepared to ride the rough waves of finance into the turbulent future. Delve into one of the world's least-understood but highest-impact industries Understand the key principles of quantitative finance and the evolution of the field Learn what quantitative finance has become, and how it affects us all Discover how the industry's next steps dictate the economy's future How do you create a quadrillion dollars out of nothing, blow it away and leave a hole so large that even years of "quantitative easing" can't fill it – and then go back to doing the same thing? Even amidst global recovery, the financial system still has the potential to seize up at any moment. The Money Formula explores the how and why of financial disaster, what must happen to prevent the next one.
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Managing without Growth, Second Edition

Slower by Design, not Disaster

Author: Peter A. Victor

Publisher: Edward Elgar Publishing

ISBN: 1785367382

Category: BUSINESS & ECONOMICS

Page: 432

View: 7374

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Ten years after the publication of the first edition of this influential book, the evidence is even stronger that human economies are overwhelming the regenerative capacity of the planet. This book explains why long-term economic growth is infeasible, and why, especially in advanced economies, it is also undesirable. Simulations based on real data show that managing without growth is a better alternative
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