The Death of Economics

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The Death of Economics
Death of economics bookcover.jpg
Author Paul Ormerod
Country United Kingdom
Language English
Genre Economics
Publisher St. Martin's Press
Publication date
1994
Media type Print (Hardcover)
Pages 240 pp (first edition)
ISBN 978-0-312-13464-8
OCLC 33132875
330 20
LC Class HB75 .O76 1995

The Death of Economics is a book written by Paul Ormerod. According to the author the title does not imply that the study of economies is not of great importance but rather it argues that conventional economics offers a misleading view of how the world operates and needs to be replaced.[1]

The book is split into two parts. The first part contains Ormerod's assessment of the present state of economics; the second part represents a series of suggestions as to how economics can be developed, particularly in relation to unemployment.

Three properties are identified as essential to any model seeking to explain unemployment. First the model should be capable of settling into long periods of regular fluctuations; second, such fluctuations should be sensitive to the initial values of the system; thirdly, following a major shock, there should be no tendency to settle back to the regular behaviour previously seen.[2]

Originally published for the United Kingdom in 1994, Death of Economics has been translated into more than 10 languages.

References[edit]

  1. ^ Ormerod Preface to the Paperback Edition
  2. ^ Ormerod p180

External links[edit]