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Economics for the rest of us: debunking the science that makes life dismal

By: Adler, Moshe.
Publisher: New York The New Press 2010Description: xix, 217 p.ISBN: 9781595581013.Subject(s): Economics | Income distribution | WagesDDC classification: 330 Summary: Why do contemporary economists consider food subsidies in starving countries, rent control in rich cities, and health insurance everywhere "inefficient"? Why do they feel that corporate executives deserve no less than their multimillion-dollar "compensation" packages and workers no more than their meager wages? Here is a lively and accessible debunking of the two elements that make economics the "science" of the rich: the definition of what is efficient and the theory of how wages are determined. The first is used to justify the cruelest policies, the second grand larceny. Filled with lively examples--from food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry Summers--Economics for the Rest of Us shows how today's dominant economic theories evolved, how they explicitly favor the rich over the poor, and why they're not the only or best options. Written for anyone with an interest in understanding contemporary economic thinking--and why it is dead wrong--Economics for the Rest of Us offers a foundation for a fundamentally more just economic system.
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Slot 489 (0 Floor, West Wing) Non-fiction 330 A2E2 (Browse shelf) Available 180323

Why do contemporary economists consider food subsidies in starving countries, rent control in rich cities, and health insurance everywhere "inefficient"? Why do they feel that corporate executives deserve no less than their multimillion-dollar "compensation" packages and workers no more than their meager wages? Here is a lively and accessible debunking of the two elements that make economics the "science" of the rich: the definition of what is efficient and the theory of how wages are determined. The first is used to justify the cruelest policies, the second grand larceny.

Filled with lively examples--from food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry Summers--Economics for the Rest of Us shows how today's dominant economic theories evolved, how they explicitly favor the rich over the poor, and why they're not the only or best options. Written for anyone with an interest in understanding contemporary economic thinking--and why it is dead wrong--Economics for the Rest of Us offers a foundation for a fundamentally more just economic system.

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