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The Econocracy: The Perils of Leaving Economics to the Experts #2020

The Econocracy The Perils of Leaving Economics to the Experts One hundred years ago the idea of the economy didn t exist Now improving the economy has come to be seen as perhaps the most important task facing modern societies Politics and policymaking are condu

  • Title: The Econocracy: The Perils of Leaving Economics to the Experts
  • Author: Joe Earle Cahal Moran
  • ISBN: 9781526110138
  • Page: 356
  • Format: Paperback
  • The Econocracy: The Perils of Leaving Economics to the Experts By Joe Earle Cahal Moran, One hundred years ago the idea of the economy didn t exist Now, improving the economy has come to be seen as perhaps the most important task facing modern societies Politics and policymaking are conducted in the language of economics and economic logic shapes how political issues are thought about and addressed The result is that the majority of citizens, who cannot sOne hundred years ago the idea of the economy didn t exist Now, improving the economy has come to be seen as perhaps the most important task facing modern societies Politics and policymaking are conducted in the language of economics and economic logic shapes how political issues are thought about and addressed The result is that the majority of citizens, who cannot speak this language, are locked out of politics while political decisions are increasingly devolved to experts The econocracy explains how economics came to be seen this way and the damaging consequences It opens up the discipline and demonstrates its inner workings to the wider public so that the task of reclaiming democracy can begin.

    • [☆ The Econocracy: The Perils of Leaving Economics to the Experts || Ä PDF Read by Î Joe Earle Cahal Moran]
      356 Joe Earle Cahal Moran
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      Posted by:Joe Earle Cahal Moran
      Published :2020-05-11T11:44:18+00:00

    1 thought on “The Econocracy: The Perils of Leaving Economics to the Experts

    1. Though sometimes written in a somewhat clunky manner, this book is an excellent articulation of the grievances I have with my economics course The issues surrounding a lack of any critical thinking or broader social analysis are extended by the authors, three recent undergraduate students, to critique the primacy of economic discourse in contemporary politics.

    2. I often found myself skimming over sections because it became rather predictable what the authors were going to say And not being a U.K citizen, some of the sections on that were not especially of interest to me That being said, the basic argument is one economists everywhere need to hear, particularly those who teach intro courses And in that respect, the authors are to be applauded for their contribution and substantive efforts to reform a profoundly broken system.

    3. It s not often that an economics text just stops me in my tracks This one did It was a real eye opener about the state of professional economics and how it is currently being taught, and finished as a plea for change We need to heed that plea if we are to enjoy a prosperous future.The book starts from the simple premise that the economics profession failed to foresee the crash of 2007, failed to understand it once it occurred, and has failed to navigate a way out of the mess in which we now find [...]

    4. An inspiring treatise that puts economics, the economy and economists under a bright spotlight With a UK focus, but an international outlook, the book describes how something as prosaic as a research assessment process can wind up critique cleansing an entire discipline to the extent that dissecting opinion cannot even be considered The false precision offered by an econocracy provides cover in periods of economic growth but, rather like so much corporate strategy, when the tide goes out we find [...]

    5. Finally, first book that also mentions my own idea I have thought about last year that inflation is an instrument to redistribute wealth from slaves to masters OK, exact quote from book is rather better quoting it freely QE was created to boost prices, but inflation returns are skewed towards the already wealthy How is so Because, most often, we are ruled by imbeciles who are so far from reality of people that they never would understand them Sometimes I wonder whether the world is being run by [...]

    6. Excellent book Clearly explains the current huge problems in the discipline and why it is so important for everyone Economists are taught to think too narrowly but also that their methods are the only ones to use We all pay the price for this through crap policy.

    7. The Econocracy is basically a modern day re telling of The Emperor s New Clothes , in which the shortcomings of economics or rather neo classical economics are laid bare.The book s three authors Joe Earle, Cahal Moran and Zach Ward Perkins all studied economics at the same time at Manchester University and all fell out of love with their course, coming to view it as narrow, uncritical and disconnected from the real world This led, in their second year, to their setting up the Post Crash Economic [...]

    8. Should be compulsory reading for all economics students and academic economists, and suggested for really anyone who would consider themselves a proponent of democracy The book is a brave and largely successful attempt to outline what is wrong with economics as a discipline, its pedagogy, and its role in society Braver still are the proposals to remedy the situation which economists would do well to at least recognise and engage with If not, it ll only get worse.

    9. The book points out to an important problem in economics education Most economics undergraduate education focuses on problem solving skills which are next to useless for non academic economists The issue is grave for microeconomics and econometrics In my experience, most intermediate level microeconomics courses can be summarized to taking derivatives and equating to zero which does not really give economic insight Another important issue the book raises is that introductory level economics cou [...]

    10. Great book for anyone studying economics There s a revolution going on in economics and this book provides a window into it.

    11. This is a very arresting attempt by a group of involved economic practitioners and students to bring the dismal science back to the people Currently, as argued passionately by the authors, the real of Economics has been showcased and stereotyped as being the exclusive preserve, privilege and preoccupation of a select few experts whose claim to such expertise stems from a qualification that has at its uncompromising edifice the airtight and straitjacketed principles of neo liberal and neo classic [...]

    12. Is this really how economy students think It s not on the curriculum therefore it doesn t exist None of what I do at my job was on my CS course, how could it have been You learn that on your own Maybe you re not really interested in the subject if the extent of your interest is your coursework We had a Windows admin class on my course, we all laughed at it, passed it and promptly ignored it It was there because Microsoft was sponsoring the lab It s a sad situation but no one was claiming it corr [...]

    13. Excellent book, deals with the exclusion and elitist approach applied all the time in adjudication of government policies translated to economic problems, that are often than not opaque to the general public, thereby excluding them from the decision making This is the central problem of experts that stifle democratic participation.The rhetorics by imbecilic media is all about leaving the experts alone Raghuram Rajan s expulsion being a case in point without understanding that central planning s [...]

    14. The book comes from a great student initiative to reinvent the way economics is taught in universities across the UK, which is not far from the norms in the rest of the world nowadays It is indeed a wake up call for teachers and students themselves to realise the shortcomings in the education they are giving, receiving and then passing on I appreciate how well the arguments are structured and supported by researches and evidences However, the writing tone of campaigners as well as attempts to ex [...]

    15. Although the authors primary focus is on economics education in British universities, the problems they highlight are universal As a US university student I loathed economics courses for their stuffy neoclassical obsession Being a political science student, I found economics far interesting when it was part of political science classes that were open to critically thinking about economic theories The authors conclusions about reforming economics education as well as making the subject accessi [...]

    16. This book makes some good points, and the economics curriculum is in dire need of radical reform, but overall the book lacks punch It doesn t say anything too new and most of what it does say is very mild This isn t a revolution, it s a polite request for change As a result it doesn t capture the imagination or push hard for change.

    17. A good effort, but the tone reads like a doctoral thesis than a work of literature A lot of effort is expended to elaborate the reasons for reaching a conclusion, when I d have been happy to accept the conclusion.

    18. I actually entirely agree with the authors adn think that this book should be mandatory reading for every student, indeed every economist It s just incredibly dull.

    19. A great call for the return to political economy and also away from the nonsense of free market fundamentalism and from mathematical economic models detached from reality.

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