1.

Record Nr.

UNINA9910157803403321

Autore

Chernomas Robert

Titolo

The profit doctrine : economists of the neoliberal era / / Robert Chernomas and Ian Hudson

Pubbl/distr/stampa

Pluto Press, 2016

London : , : Pluto Press, , 2017

ISBN

1-78371-994-X

1-78371-993-1

Descrizione fisica

1 online resource (241 pages) : illustrations; digital, PDF file(s)

Disciplina

320.513

Soggetti

Neoliberalism

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

1. Prophets and profits --2. The contest of economic ideas: survival of the richest --3. The consequences of economic ideas --4. Milton Friedman: the godfather of the age of instability and inequality --5. The deregulationists: public choice and private gain --6. The great vacation: rational expectations and real business cycles --7. Bursting bubbles: finance, crisis and the efficient market hypothesis --8. Economists go to Washington: ideas in action --9. Conclusion: dissenters and victors.

Sommario/riassunto

The economics profession has a lot to answer for. After the late 1970s, the ideas of influential economists have justified policies that have made the world more prone to economic crisis, remarkably less equal, more polluted and less secure than it might be. How could ideas and policies that proved to be such an abject failure come to dominate the economic landscape?   By critically examining the work of the most famous economists of the neoliberal period including Alan Greenspan, Joseph Stiglitz and Paul Krugman, the authors Robert Chernomas and Ian Hudson demonstrate that many of those who rose to prominence did so primarily because of their defence of, and contribution to, rising corporate profits and not their ability to predict or explain economic events. An important and controversial book, 'The Profit Doctrine' exposes the uses and abuses of mainstream economic canons, identify



those responsible and reaffirm the primacy of political economy.