Zombie Economics

Zombie Economics

How Dead Ideas Still Walk Among Us

Book - 2010
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In the graveyard of economic ideology, dead ideas still stalk the land.


The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics , John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future.


Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises.


Publisher: Princeton : Princeton University Press, c2010
ISBN: 9780691145822
Branch Call Number: 330 QUI 2010 22
Characteristics: viii, 238 p. ; 24 cm

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dannerz
Sep 07, 2011

Very interesting book on a very important topic - the spectre of irrational economic policy. But it does not deliver on the zombies. Quite a straightforward and readable economics book with an awesome but misleading cover.

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matthewmina
Dec 14, 2010

This book offered an interesting perspective from an Australian perspective however the whole zombie premise just didn't work out. The chapter on privatization had some interesting points. Essentially the whole book was a critique on right-leaning economics. I was hoping for something more with a title like zombie economics nonetheless it is still a good introductory book to ideas which hold sway today.

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