The New Economics: A Manifesto

Steve Keen argues that economics needs its own Reformation, presenting his Reformation: a New Economics to address serious issues such as money, energy, and ecological sustainability and save our economies from collapse and the planet from ecological catastrophe.

Format: Hardback
Length: 140 pages
Publication date: 15 October 2021
Publisher: Polity Press

In the year 1517, a significant event occurred when Martin Luther, a prominent figure in the Protestant Reformation, nailed his 95 theses to the wall of the Wittenberg church. Luther's theses were a scathing critique of the Catholic Church, specifically targeting its doctrines and practices. He argued that while the Church claimed to have a coherent and consistent set of beliefs, its doctrines were in fact absurd and contradicted each other. Luther believed that it was time for a Reformation, a fundamental shift in the way the Church approached its teachings and practices.

Fast forward to the present day, and economist Steve Keen is making a similar argument. In his book "Debunking Economics," Keen challenges the dominant neoclassical economic theory and its widespread influence on society. He argues that neoclassical economics systematically ignores its own empirical evidence and logical fallacies, yet remains highly revered and worshipped by its scholarly high priests. Keen proposes a Reformation of economics, a new approach that addresses critical issues that the current economic priesthood tends to overlook, such as money, energy, and ecological sustainability.

In "Debunking Economics," Keen presents his Reformation: a New Economics. This new economic framework aims to provide a more accurate and comprehensive understanding of the economic system, recognizing the interdependence of different aspects of the economy and the importance of sustainability. Keen argues that the current economic system is flawed and unsustainable, leading to economic collapse and environmental catastrophe. He offers a range of solutions to these problems, including the introduction of a universal basic income, the adoption of renewable energy sources, and the implementation of sustainable economic practices.

One of the key strengths of "Debunking Economics" is Keen's ability to present complex economic concepts in a clear and accessible manner. He uses humor, analogy, and real-world examples to illustrate his points, making the book engaging and enjoyable to read. Keen's writing style is also highly readable, and his arguments are well-supported by empirical evidence and logical reasoning.

Another notable aspect of the book is its relevance to contemporary society. The economic challenges facing the world today, such as income inequality, climate change, and financial instability, are directly linked to the flaws in neoclassical economics. By challenging these theories and proposing alternative solutions, Keen offers hope that we can save our economies from collapse and protect the planet from ecological catastrophe.

In conclusion, "Debunking Economics" is a thought-provoking and important book that challenges the dominant economic theories of our time. Steve Keen's Reformation: a New Economics provides a compelling alternative to neoclassical economics, offering a more accurate and sustainable approach to understanding and managing the economic system. Anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes should read this book.

Weight: 400g
Dimension: 145 x 223 x 23 (mm)
ISBN-13: 9781509545285