Uneconomic Economics and the Crisis of the Model World

Cover

Half-Title

Series

Title

Copyright

Dedication

Contents

Acknowledgements

List of Abbreviations

1 Setting the Scene: From a Crisis of Economics to a Crisis of the State

Introduction

Competing crisis narratives of symptom and disease

The rehabilitation of economic theory

The crisis and the economics curriculum

Structure of the book

2 The Collapse of the Model World: From Faith in Equations to Unsustainable Asset Bubbles

Introduction

The growth of increasingly complex secondary mortgage markets

The uneconomic economics of asset-price valuation techniques

Performativity and counter-performativity in financial markets

Conclusion

3 The Creation of the Model World: From Formalist Techniques to the Triumph of Uneconomic Economics

Introduction

The return of the policy ineffectiveness proposition

The quest for a fully specified general equilibrium framework

Formalist technique and the logic of market self-regulation

Conclusion

4 Looking Ahead: From Uneconomic Economics to a Different Future

Introduction

The definition of good economics

The significance of historicised method

Final words

References

Index