Zombie Economics: How Dead Ideas Still Walk among Us Review

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Zombie Economics: How Dead Ideas Still Walk among Us Reviewthis book offers a very good critique of how the research program of macroeconomics for the last 40 or so years has been, largely, a failure. while it is true that the author is not always careful or complete with respect to some of his definitions (for instance, the efficient market hypothesis has different interpretations/statements in, say, finance versus freshwater economics --- finance folks, by the way, have dismissed the efficient market hypothesis decades ago), most of his points/explanations are clear enough to understand. HOWEVER, it is worth noting that economics can be extremely politicized; the one star reviewers are a cases in point; much of modern macro ends up having policy implications, and thus a lot of work, some of it very technical, was done with an ax to grind. and, if you have an ax to grind, well, evidence that throws a wrench in your machinery is dismissed, discarded, or, in some cases, claimed as stupid. this is a very embarrassing book for the economics profession, and is a very embarrassing book for folks who pedal a particular brand of right-wing economics, which is why it gets some of the negative reviews. but, that is one of the many compelling reasons to read it. moreover, this book is, with a few exceptions, honest, and correct and the author backs up his claims with a hell of a lot of references. in fact, for econ students looking for thesis problems, this book is a gold mine. in any event, to gain clear picture of why economics hasn't had much to say about the world since early 2008, and what is wrong with modern macro, read this book. really.Zombie Economics: How Dead Ideas Still Walk among Us Overview

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