Uneconomic Economics and the Crisis of the Model World
In: Building a Sustainable Political Economy: SPERI Research & Policy
In: Building a Sustainable Political Economy: SPERI Research and Policy Ser.
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