From the inability of wealth to make us happier, to our catastrophic blindness to the credit crunch, "Economyths" reveals ten ways in which economics has failed us all. Forecasters predicted a prosperous year in 2008 for financial markets - in one influential survey the average prediction was for an eleven per cent gain. But by the end of the year, the Standard and Poor's 500 index - a key economic barometer - was down 38 per cent, and major economies were plunging into recession. Even the Queen asked - Why did no one see it coming? An even bigger casualty was the credibility of economics, which for decades has claimed that the economy is a rational, stable, efficient machine, governed by well-understood laws. Mathematician David Orrell traces the history of this idea from its roots in ancient Greece to the financial centres of London and New York, shows how it is mistaken, and proposes new alternatives. "Economyths" explains how the economy is the result of complex and unpredictable processes; how risk models go astray; why the economy is not rational or fair; why no woman (until 2009) had ever won the Nobel Prize for economics; why financial crashes are less Black Swans than part of the landscape; and, finally, how new ideas in mathematics, psychology, and environmentalism are helping to reinvent economics.

• We started tracking this book on December 31, 2016.
• This book was £4.68 when we started tracking it.
• The price of this book has changed 60 times in the past 3,001 days.
• The current price of this book is £4.19 last checked 11 hours ago.
• This book is at its lowest price in the past year.
• The lowest price to date was £2.29 last reached on February 5, 2019.
• This book has been £2.29 one time since we started tracking it.
• The highest price to date was £7.00 last reached on March 3, 2020.
• This book has been £7.00 one time since we started tracking it.

• Politics & Social SciencesInternational
• Business & InvestingEconomics

• Text-to-Speech: Enabled
• Lending: Disabled
• Print Length: 323 Pages
• File Size: 39 KB