What: One hundred years ago the idea of 'the economy' didn't exist. Now, improving the economy has come to be seen as perhaps the most important task facing modern societies. Politics and policymaking are conducted in the language of economics and economic logic shapes how political issues are thought about and addressed. The result is that the majority of citizens, who cannot speak this language, are locked out of politics while political decisions are increasingly devolved to experts. "The Econocracy" explains how economics came to be seen this way - and the damaging consequences. It opens up the discipline and demonstrates its inner workings to the wider public so that the task of reclaiming democracy can begin.
How: 'It is a scandal that the enormously important subject of economics is usually taught in British universities around a rigid, narrow, orthodox syllabus which excludes counter-cultural thinking. The 2008 financial crisis was a wake-up call for the profession, which has been dismally slow to respond. This book is badly needed, looking at academic economics afresh: clear, well-written, well-researched, non-doctrinaire. It makes the case for 'pluralistic' economics to address such questions as financial instability and climate change. Every economist and citizen should get a copy.'
Vince Cable MP, Former Secretary of State for Business, Innovation and Skills