Synopsis
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 examplesfrom food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry SummersEconomics 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 thinkingand why it is dead wrongEconomics for the Rest of Us offers a foundation for a fundamentally more just economic system.
Filled with lively examplesfrom food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry SummersEconomics 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 thinkingand why it is dead wrongEconomics for the Rest of Us offers a foundation for a fundamentally more just economic system.
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Review
Masterful. [A] delightful and entertaining book.”
—Elaine Bernard, executive director, Labor &Worklife Program at Harvard Law School
Reminds us of a basic, humbling fact that’s been forgotten in our market-obsessed world: there is really no such thing as the economy,’ there are only people.”
—Eric Laursen, co-author of Understanding the Crash
Thoughtful arguments This excellent book will add a controversial perspective on critical issues of our time.”
—Booklist
A stimulating introduction to contested economic theory Highly recommended.”
—Choice
About the Author
Moshe Adler teaches economics at Columbia University and at the Harry Van Arsdale Jr. Center for Labor Studies at Empire State College. His articles and editorials have appeared in the New York Times, the Washington Post, the Los Angeles Times, Counterpunch, and Truthdig, as well as in the most prestigious academic journals. He lives in New York City.
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