Crisis, Economics, and the Emperor's Clothes

Why isn’t society doing better economically, socially and environmentally? Why haven the advances of science and technology not led to more wealth, well-being and a brighter outlook for humanity? This book argues the blame lies for an important part in the theory and practice of economics. Standard economics is based on poorly conceived premises and method, resulting in misguided policy prescriptions. These helped cause the 2007 crisis, inhibit economic recovery, foster future crises, and restrain society in addressing its social and environmental problems. The book shows that what is considered responsible economic, financial and fiscal policy puts society in an economic straightjacket that prevents the full development of its productive potential. It presents the outline of a new economics, a social science that can help generate the productive potential to create a dynamic, socially equitable and environmentally sustainable society.