Making Sense Of A Changing Economy

In Making Sense of Economics Edward Nell presents an unorthodox and original view of the current state of economic theory and policies. Deriding the general trend for 'econobabble', the author explains the reason why conventional wisdom in economics now seems irrelevant and looks to likely future scenarios. Entertaining throughout, Nell employs a lightness of touch and wit not generally associated with economic literature. It is an accessible and enjoyable read which requires minimal prior knowledge of econoimcs. It will appeal to those who care what is really happening in the economy. Review: [The] readership will find here a well-crafted extended argument that confronts commonplace neoclassical ideas about economic processes and suggests how one might think differently about them. - Journal of Economic Literature Making Sense of a Changing Economy helps the reader to do just that, in a witty and well-written way. Issues in politics and philosophy are neatly interwoven with economic analysis, in a text accessible to beginners, but which confronts the deepest problems and paradoxes in today's worldly philosophy and will therefore be rewarding to advanced students and specialists alike. -Robert L. Heilbroner We have lived through the epoch of monetarism and have been asked to take the desirability of such notions as free markets, zero inflation, balanced budgets and individual incentives for granted. We have been told that such ideas are no more than common sense and are backed by the hallowed authority of academic economists. In a clearly written assault on economic orthodoxy, Edward Nell poses well-argued alternatives in both theory and policy. Drawing from three decades of his own academic work - as well as the classic writings of Keynes, Sraffa and Marx - Nell presents a lucid alternative to monetarism and other conventional remedies. This lively and entertaining book is highly recommended to all those who have the courage to question that which we are asked to take for granted, especially the young who can remember no pre-monetarist alternative.. -Geoff Hodgson, Cambridge University. He has written a remarkable book in which through patient argument and the provision of an alternative vision he seeks to destroy the conceptualfoundations of modern economic thought and political practice in the United States, and beyond. Making Sense of a Changing Economy: Technology, markets and morals' is a veritable tour de force, an essay in criticism and construction, which makes Edward Nell a worthy successor in the line of political economists which runs from Smith through Ricardo and Marx to Keynes, Kalecki, Kaldor and Joan Robinson in our day...In this new, promising and much needed phase, Nell's book will play a worthy and essential role. -Geoff Harcourt, Fellow, Jesus College, Cambridge and Professor Emeritus, University of Adelaide. With wit and wisdom, Making Sense of A Changing Economy: Technology, Markets and Morals undermines the conventional belief that market systems necessarily generate ethical outcomes. Edward Nell's essay is a powerful argument against the theology of austerity and the mindless tendency, so characteristic of our culture, to acquiesce in needless poverty and mass unemployment. -Professor James Galbraith, University of Texas at Austin