The economics profession has a lot to answer for. After the late
1970s, the ideas of influential economists have justified policies
that have made the world more prone to economic crisis, remarkably
less equal, more polluted and less secure than it might be. How
could ideas and policies that proved to be such an abject failure
come to dominate the economic landscape? By critically examining
the work of the most famous economists of the neoliberal period
including Alan Greenspan, Milton Friedman, and Robert Lucas, the
authors Robert Chernomas and Ian Hudson demonstrate that many of
those who rose to prominence did so primarily because of their
defence of, and contribution to, rising corporate profits and not
their ability to predict or explain economic events. An important
and controversial book, The Profit Doctrine exposes the uses and
abuses of mainstream economic canons, identify those responsible
and reaffirm the primacy of political economy.
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