Mainstream economists completely failed to anticipate the financial market crash of 2007-8. They then called it an unforeseeable event. This is a clear admission that they don't understand how economies work. Yet many non-mainstream, marginalised economists gave clear warning of the approaching crash. This book shows how mainstream economics has no.
Cover; Title; Copyright; Praise; Contents; 1. Economists Don't Know What They're Talking About; The walking dead; Better ideas; Promoting debate; 2. Boom Crash Opera; Forever blowing bubbles; Some real-world evidence; Pyramids and Ponzi schemes; Bankers' blindness; The invisible foot; 3. Rocking Chair or Wild Horses?; Gentle rocking?; Overshoot and crash; Origins of equilibrium theory; Runaway growth; Pervasive disequilibrium; competition eliminates competitors; More sources of instability; A very different kind of system: self-organising complexity; Guiding the horses.
Familiar tools, new contextA more positive future?; 4. Learning to Subtract; Polluting for wealth and happiness; It's all just activity; Unpaid activity
loving baby; Quality of life?; Reducing life to numbers; Distorted priorities; Assessing wealth; Not even accounting; 5. Finance: Parasitic and Destructive; Conventional market critiques; Frenetic markets; Parasitic, destabilising, inefficient; Put the speculators out of business; 6. Land is not Manufactured; Our wealth; Not just another commodity; Reclaiming community wealth; 7. Workers and Bosses Unite!; Industrial co-ops.
Forms of collective ownershipWorking within communities; a cultural shift; Collective governance; Even further
a fuller democracy; 8. The Capitalist Myth.; We know best, you're here to serve; Plutocracy doesn't work; Why plutocracy doesn't work; How should rewards and responsibilities flow?; The importance of being Owner; From Can-do to Won't-do; 9. Insulating Main Street from Wall Street; What is money?; How should we finance investment?; Pre-empting Hitler
the path not taken; Keeping the money flowing; Saving money or saving wealth?; Separating the money supply from investment.
Decentralised or centralised? Government debts, inflationSave from our own efforts, don't borrow from our children; Interest-burdened money
the hidden private tax; Interest
a market failure; Multiple benefits; 10. Their Own Petards; Wealth transfers; Social engineering; Political correctness; Class warfare; 11. Wellbeing; Abject failure; Begin again; Harnessing the wild horses; Economies that serve and nurture; Rediscovering our place; Afterword; Bibliography; About the Author.
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