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Economics of the 1%

Economics of the 1%

By John F. Weeks

Anthem Other Canon Economics

How much do economists really know? In most cases, they claim to have profound knowledge but in fact understand little and obscure almost everything. This book exposes the myths of mainstream economics and explains why current policies fail to serve the interests of the vast majority of people in the United States, Europe and elsewhere. Instead, they serve the few, increasing inequality and poverty.

PDF, 246 Pages

ISBN:9780857281159

January 2014

£11.19, $15.96

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EPUB, 246 Pages

ISBN:9780857281173

January 2014

£11.19, $15.96

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About This Book

Today’s ‘doctrine of choice’ assures adults that they are competent to make serious personal decisions about healthcare, education and retirement plans. At the same time, most people are convinced that they are so ignorant of economics that they are not capable of holding an informed opinion, and that economic issues must be left to experts. The so-called experts of the mainstream economics profession claim to have profound, inaccessible knowledge; in fact they understand little and obscure almost everything.

Understanding the economy is not simple, but it is no more complicated than understanding the political system sufficiently to cast a vote. In straightforward language, John F. Weeks exposes the myths of mainstream economics and explains why current economic policies fail to serve the vast majority of people in the United States, Europe and elsewhere. He demonstrates that austerity policies have little theoretical basis and achieve nothing but inequality and misery. He goes on to explain how the current deficit and debt ‘crises’ in the United States and Europe are ideologically manufactured, unnecessary and simple to overcome. Drawing on examples from around the world, this book provides a bold alternative to the economics of the 1%. Their failure to serve the interests of the many results from their devoted service to the few.

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Author Information

John F. Weeks is professor emeritus of economics at SOAS, University of London, and has advised numerous governments and international organizations over the past forty years.

Series

Anthem Other Canon Economics

Anthem Frontiers of Global Political Economy

Table of Contents

Preface: Doctor Bob’s Third Law; Introduction: Economic Ignorance; Chapter 1: Fakeconomics and Economics; Chapter 2: Market Worship; Chapter 3: Finance and Criminality; Chapter 4: Selling Market Myths; Chapter 5: Riches, “Sovereignty” and “Free Trade”; Chapter 6: Lies about Government; Chapter 7: Deficit Disorders and Debt Delirium; Chapter 8: Governments Cause Inflation?; Chapter 9: Institutionalized Misery: Austerity in Practice; Chapter 10: Economics of the 99%

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