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“Vivid case studies . . . Adler’s frustration with wrongheaded economic thinking is as entertaining as it is thought provoking.” —Publishers Weekly
Why do so many contemporary economists consider food subsidies in starving countries, rent control in rich cities, and health insurance everywhere “inefficient”? Why do they feel that corporate executives deserve no less than their multimillion-dollar “compensation” packages and workers no more than their meager wages? Here is a lively and accessible debunking of the two elements that make economics the “science” of the rich: the definition of what is efficient and the theory of how wages are determined. The first is used to justify the cruelest policies, the second grand larceny.
Filled with lively examples—from food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry Summers—Economics for the Rest of Us shows how today’s dominant economic theories evolved, how they explicitly favor the rich over the poor, and why they’re not the only or best options. Written for anyone with an interest in understanding contemporary economic thinking—and why it is dead wrong—Economics for the Rest of Us offers a foundation for a fundamentally more just economic system.
“Brilliant.” —David Cay Johnston, Pulitzer Prize–winning and New York Times–bestselling author of It’s Even Worse Than You Think
Why do so many contemporary economists consider food subsidies in starving countries, rent control in rich cities, and health insurance everywhere “inefficient”? Why do they feel that corporate executives deserve no less than their multimillion-dollar “compensation” packages and workers no more than their meager wages? Here is a lively and accessible debunking of the two elements that make economics the “science” of the rich: the definition of what is efficient and the theory of how wages are determined. The first is used to justify the cruelest policies, the second grand larceny.
Filled with lively examples—from food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry Summers—Economics for the Rest of Us shows how today’s dominant economic theories evolved, how they explicitly favor the rich over the poor, and why they’re not the only or best options. Written for anyone with an interest in understanding contemporary economic thinking—and why it is dead wrong—Economics for the Rest of Us offers a foundation for a fundamentally more just economic system.
“Brilliant.” —David Cay Johnston, Pulitzer Prize–winning and New York Times–bestselling author of It’s Even Worse Than You Think
Price: $17.95
Pages: 240
Publisher: The New Press
Imprint: The New Press
Publication Date:
05 April 2011
Trim Size: 7.25 X 5.50 in
ISBN: 9781595586414
Format: Paperback
“Masterful. [A] delightful and entertaining book.”
—Elaine Bernard, executive director, Labor &Worklife Program at Harvard Law School
“Reminds us of a basic, humbling fact that's been forgotten in our market-obsessed world: there is really no such thing as 'the economy,' there are only people.”
—Eric Laursen, co-author of Understanding the Crash
“Thoughtful arguments… This excellent book will add a controversial perspective on critical issues of our time.”
—Booklist
“A stimulating introduction to contested economic theory… Highly recommended.”
—Choice
Moshe Adler teaches economics at Columbia University and at the Harry Van Arsdale Jr. Center for Labor Studies at Empire State College. His articles and editorials have appeared in the New York Times, the Washington Post, the Los Angeles Times, Counterpunch, and Truthdig, as well as in the most prestigious academic journals. He lives in New York City.