The Macroeconomics Anti-Textbook

Mainstream textbooks present economics as an objective science, free from value judgements. This book demonstrates this to be a myth - one which serves to make such textbooks not only off-puttingly bland, but also dangerously misleading in their justification of the status quo and neglect of alternatives.In this much-needed companion volume to the popular , Tony Myatt reveals how the blind spots and methodological problems present in microeconomics continue to exert their influence in mainstream macroeconomics. From a flawed conception of the labour market, to a Pollyana view of the financial sector, macroeconomic principles as they are set out in conventional undergraduate textbooks consistently fail to set out a realistic, useful, or equitable framework for understanding the world.By summarising and then critically evaluating the major topics found in a typical macroeconomics textbook, the Anti-Textbook lays bare their sins of omission and commission, showing where hidden value judgements are made and when contrary evidence and alternative theories are ignored. The Macroeconomics Anti-Textbook is the student''s essential guide to decoding mainstream macroeconomic textbooks, and demonstrating how real-world economics are much more interesting than most economists are willing to let on.>

Auteur

Tony Myatt is a Professor of Economics in the Department of Economics at the University of New Brunswick's Fredericton campus, Canada.

Texte du rabat

By summarising and then critically evaluating the major topics found in a typical macroeconomics textbook, The Macroeconomics Anti-Textbook lays bare their sins of omission and commission, showing where hidden value judgements are made and when contrary evidence and alternative theories are ignored. The Macroeconomics Anti-Textbook is the student's essential guide to decoding mainstream macroeconomic textbooks, and demonstrates how real-world economics is much more interesting than most economists are willing to let on.

Contenu

Tables and figures Acknowledgements Preface: What is an "anti" textbook, and why do we need one? Part 1: INTRODUCTION Ch1 What is macroeconomics Ch2 Measurement, mismeasurement and omission Part 2: LONG RUN ECONOMIC GROWTH Ch3 Growth: what we know and what we don't Ch4 Growth: happiness and inequality Ch5 The financial system: the belly of the beast Part 3: SHORT RUN FLUCTUATIONS Ch6 Short-run macro models: a revolution that misfired Ch7 Fiscal policy: why deficits and debt might not matter Ch8 Money and banking: crony capitalism and the corruption it breeds Ch9 Monetary policy: the fixation on inflation Ch10 Unemployment and inflation: the political economy of unemployment Part 4: CONCLUSION Ch11 Summing Up