Economics for Heretics: Debunking the Myths of Orthodox Economics
This book presents a thorough analysis of mainstream economic theory and refutes its main postulates, namely, (1) consumer rationality, (2) production function, (3) theory of distribution, (4) profit maximization, (5) competitive markets, (6) market efficiency, (7) general equilibrium, (8) non-intervention of the state, (9) free trade, and (10) economic development. In turn, it offers a new framework to re-think economics incorporating the contributions of alternative paradigms such as institutional economics, post-Keynesianism, behavioral economics, neuroeconomics, ecological economics, neo-Schumpeterian economics, structuralism, dependency theory, Austrian school, regulationist school, etc. Moreover, it shows how economics is closely interrelated with psychology, sociology, history, law, political science, etc., so that its contributions are relevant for all social scientists. In sum, this book will radically change your view on economics!