Synopses & Reviews
Synopsis
From the former economics columnist for Harper's and The New York Times, a bold indictment of some of our most accepted mainstream economic theories--why they're wrong, and how they've been harming America and the world.
Ideas have the power to change history. But what happens when they are bad? In a tour de force of economics, history, and analysis, Jeff Madrick shows how theories on austerity, inflation, and efficient markets have become unassailable mantras over recent years, to the detriment of the country as a whole. Working backwards from the Great Recession, Madrick pulls no punches as he reconsiders seven of the greatest false idols of modern economic theory, from Say's Law to Milton Friedman, illustrating how these ideas have been damaging markets, infrastructure, and individual livelihoods for years. Trenchant, sweeping, and empirical, Seven Bad Ideas resoundingly disrupts the status quo of modern economic theory.
About the Author
Jeff Madrick, a former economics columnist for
Harper’s and
The New York Times, is a regular contributor to
The New York Review of Books and the editor of
Challenge magazine. He is visiting professor of humanities at The Cooper Union and director of the Bernard L. Schwartz Rediscovering Government Initiative at the Century Foundation. His books include
Age of Greed, The End of Affluence, and
Taking America. He has also written for
The Washington Post, the
Los Angeles Times, Institutional Investor, The Nation, The American Prospect, The Boston Globe, and
Newsday. He lives in New York City.
www.jeffmadrick.com
@JeffMadrick
From the Hardcover edition.