Few social sciences today can claim the outsized public influence of economics. Economists are listened to by politicians across the ideological spectrum, their pronouncements treated as fact by a credulous media.
With The Profit Doctrine, Robert Chernomas and Ian Hudson trace that oracular power to one simple fact: the past thirty years have been very, very good for Americas business class, and economists have played a major role in praising, defending, and buttressing that success. Despite their claims of scientific rigor and objectivity, the authors show, these practitioners of the dismal science are partisan ideologues whose principal concern is supporting the neoliberal regime they champion.
Sure to be incendiary, The Profit Doctrine will force a major rethinking of the placeand powerwe accord economics in contemporary life and politics.
Recenzijos
'The financial crisis alerted the public to what some insiders have known for decades: mainstream economic ideas are seriously flawed. Chernomas and Hudson lay bare both the ideas and the equally flawed individuals behind them, from Milton Friedman to the ex-"Maestro" Alan Greenspan' -- Professor Steve Keen, author of Debunking Economics (Zed Books, 2011) 'In lucid and accessible prose, The Profit Doctrine shows how the post-war evolution of economic ideas has systematically favoured the profitability of big business over the interests of everyday people' -- Gary Dymski, Professor and Chair in Applied Economics, Leeds University Business School
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List of Boxes, Figures and Tables |
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viii | |
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ix | |
| Acknowledgements |
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xi | |
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1 | (11) |
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2 The Contest of Economic Ideas: Survival of the Richest |
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12 | (18) |
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3 The Consequences of Economic Ideas 3 |
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35 | (19) |
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4 Milton Friedman: The Godfather of the Age of Instability and Inequality 5 |
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54 | (73) |
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5 The Deregulationists: Public Choice and Private Gain |
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78 | (28) |
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6 The Great Vacation: Rational Expectations and Real Business Cycles |
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106 | (19) |
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7 Bursting Bubbles: Finance, Crisis and the Efficient Market Hypothesis |
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125 | (22) |
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8 Economists Go to Washington: Ideas in Action |
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147 | (20) |
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9 Conclusion: Dissenters and Victors |
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167 | (24) |
| Bibliography |
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191 | (24) |
| Index |
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215 | |
Robert Chernomas is Professor of Economics at the University of Manitoba, Canada. He is co-author (with Ian Hudson) of Economics in the Twenty-first Century: A Critical Perspective (University of Toronto Press, 2016) and To Live and Die in America: Class, Power Health and Health Care (Pluto Press, 2013).
Ian Hudson is Associate Professor of Economics at the University of Manitoba, Canada. He is the co-author (with Robert Chernomas) of Economics in the Twenty-first Century: A Critical Perspective (University of Toronto Press, 2016) and To Live and Die in America: Class, Class, Power Health and Health Care (Pluto Press, 2013).
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