Written by economist Steve Keen, one of the few professional economists to have correctly anticipated the global financial crisis of 2008, eCONcomics is a series of three satires explaining why the science of economics has gone so terribly wrong.
In these savagely erudite satires, Keen highlights the lameness of the excuses offered by economists for their failure to predict anything from the financial crisis to the recent stock market highs. From “secular stagnation” to the “non-accelerating inflation rate of employment” and the “full employment real interest rate”, Keen expertly mocks both the myths and the incompetence of his professional colleagues.
After reading eCONcomics, you will understand why no economist ever seems to be able to explain what is going on today, or tell you what will happen tomorrow.
Steve Keen is Professor of Economics at Kingston University in London, and an Honorary Professor at University College London.