|In this summary you will learn|
Like the villain in a horror movie, discredited economic theories can return to haunt you. Australian economist John Quiggin claims that some of these ideas â" like total privatization, perfectly rational markets and trickle-down policies â" nearly destroyed the world's economy, and that they are trying to make one more comeback. In an attempt to drive the final stake through the brain-eating, dead soul of âzombie economics,â he knifes through the five most dangerous principles of âmarket liberalism.â With no apparent fear of being controversial, he presents a compelling case as to why each of those âzombie ideasâ failed and describes a new, alternative approach, melding the best of free-market capitalism with judicious use of government involvement to address crucial social needs. Quiggin heavily annotates his work and provides a thoughtfully researched bibliography. Though the economic jargon can, at times, slow your progress, Quiggin's book rewards your persistence. getAbstract recommends this eerie tour through defunct yet durable economics to anyone who enjoys a good scare. Find your silver bullets, construct your booby traps and carry your axes for good measure: Quiggin says it is high time to kill those zombies once and for all.
About the author
John Quiggin is an economics professor at the University of Queensland in Australia.
Friday, April 8, 2011
Posted by admin at 7:04 PM