xviii, 477 pages : 24 cm

"Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition, Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future."--Publisher's website

Includes bibliographical references (pages 461-471) and index

Preface to the first edition. Predicting the 'unpredictable -- No more Mr. Nice guy -- Foundations. The logical flaws in the key concepts of conventional economics -- The calculations of hedonism -- Size does matter -- The price of everything -- To each according to his contribution -- Complexities Issues that should form part of an education in economics, but which are omitted from standard courses. The holy war over capital -- There is madness in their method -- Let's do the Time Warp again -- Why they didn't see it coming -- The price is not right -- Misunderstanding the Great Depression and the Great Recession -- Alternatives. Different ways to think about economics -- Why I did see 'It' coming -- A monetary model of Capitalism -- Why stock markets crash -- Don't shoot me, I'm only the piano -- Nothing to lose but their minds -- There are alternatives