Steve Keen’s book, The New Economics: A Manifesto (2021), offers a new path for economics, and for good reason. In his view, neoclassicism, the paradigm that rules modern-day economics, has become a serious menace: I regard Neoclassical economics as not …
,AbstractWe write this essay for both lay readers and scientists, though mainstream economists arewelcome to enjoy it too. Our subject is the basic toolbox of mainstream economics. The mostimportant tools in this box are demand, supply and equilibrium. All mainstream …
The 1-2-3 toolbox of mainstream economics:Promising everything, delivering nothing
We write this essay for both lay readers and scientists, though mainstream economists are welcome to enjoy it too. Our subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium. …
The 1-2-3 Toolbox of Mainstream Economics Promising Everything, Delivering Nothing
During the very years when orthodoxy turned Keynesianism on its head, extolling Reaganomics and Thatcherism as adequate for achieving stabilisation in the epoch of global capitalism, Minsky (Stabilizing an Unstable Economy) pointed to the destabilising consequences of this approach. The …