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Fixing Economics

The story of how the dismal science was broken - and how it could be rebuilt

By George Cooper

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About the Author

George Cooper

George Cooper is the Chief Investment Officer of Equitile Investments Ltd, a London-based fund management company.

He has previously worked for JP Morgan, Goldman Sachs, Deutsche Bank and BlueCrest Capital.

George's first book, 'The Origin of Financial Crises', received critical acclaim for its clear explanation of the monetary policy errors leading up to the global financial crisis.

Contents Listing

Author's Note
List of Figures
About the Author
Preface

1. Introduction: The Broken Science

Part I: Science
2. Scientific Revolutions
3. A Crisis in the Heavens
4. Blood and Bacon
5. Darwin's Theory of Species
6. Continents and revolutions

Part II: Economics
7. Economics – Ripe for Revolution
8. Borrowing from Mr Darwin
9. The Paradigm Shift
10. Policy Implications

Part III: Revolution
11. A Student Rebellion
12. Pluralism is the Problem
13. Unifying Pluralism
14. The Last Vanity of Man

Appendix A – Time is Money

Bibliography
Index
Author's Note
List of Figures
About the Author
Preface

1. Introduction: The Broken Science

Part I: Science
2. Scientific Revolutions
3. A Crisis in the Heavens
4. Blood and Bacon
5. Darwin's Theory of Species
6. Continents and revolutions

Part II: Economics
7. Economics – Ripe for Revolution
8. Borrowing from Mr Darwin
9. The Paradigm Shift
10. Policy Implications

Part II ...

Jacket Text

THE EXPANDED SECOND EDITION OF THE ACCLAIMED 'MONEY, BLOOD AND REVOLUTION'

Economics is a broken science, living in a kind of Alice in Wonderland state believing in multiple inconsistent things at the same time. Prior to the financial crisis, mainstream economics argued simultaneously for small government on taxation, regulation and spending, but big government on monetary policy. After the financial crisis, economics is now arguing for more government spending and for less government spending.

The premise of this book is that the internal inconsistencies between economic theories - the apparently unresolvable debates between leading economists and the incoherent policies of our governments - are symptomatic of economics being in a crisis. Specifically, in a scientific crisis.

The good news is that, thanks to the work of scientist and philosopher Thomas Kuhn, we know what needs to be done to fix a scientific crisis. Moreover, there are two scientists in particular whose ideas could show how to do this for economics: Charles Darwin, the man who discovered evolution, and William Harvey, doctor to King Charles I and the first person to understand blood flow and the workings of the human heart.

In Fixing Economics, bestselling financial writer George Cooper explains how the ideas of Darwin and Harvey could revolutionise economics, making it more scientific and understandable, and might even reveal the true origin of economic growth and inequality.

Taking readers on a gripping tour of scientific revolution, social upheaval and the secrets of money and debt, this is an unmissable read for anyone curious to understand how the world really works - and the amazing future of economics.

Professional Reviews

"A fascinating new book...Recommended reading...A delightfully well-written new book" John Authers, Financial Times

"For those with an open mind his criticisms of the economics profession, and suggestions for new ways forward, will be extremely welcome" Philip Coggan, The Economist

“Very interesting” Justin Fox, Harvard Business Review

"Remarkable" Club des Vigilants

"Masterly...a major contribution to our future well-being" Cambridge Business magazine


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