Zombie economics how dead ideas still walk among us
(Book)

Includes bibliographical references (p. [213]-227) and index.

"In the Graveyard of economic ideology, dead ideas still stalk the land." "The recent financial crisis laid bare many of the assumptions behind market liberalismthe theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated main stream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of manymembers of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics, John Quiggin explains how these dead ideas still walk among usand why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future." "Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefsthat deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better offbrought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enougheither to kill dead ideas, or prevent future crises."--BOOK JACKET.