Economyths

About this book

When Economyths was first published in 2010, David Orrell showed how mainstream economics is based on key myths such as fair competition, rational behaviour, stability and eternal growth - and how these myths lead paradoxically to their opposites: inequality, an irrational economy, financial instability and a collision with nature's limits. Since then, we've had Occupy, political upheaval, flash crashes in financial markets, the warmest few years in recorded history - and a growing chorus demanding fundamental reform. So how has economics responded? In this revised and expanded edition, Orrell shows how the ten myths still dominate economics. And in a new final chapter, he uncovers, demolishes and develops an alternative to the greatest economyth of all - the one that will finally lead to the collapse of orthodox economics.

Themes & subjects

About the author

David Orrell

David Orrell, Ph.D., received his doctorate in mathematics from the University of Oxford. His work in the prediction of complex systems has been featured in New Scientist and the Financial Times, and on BBC Radio, ABC Radio (Australia) and NPR. His theory that errors in weather forecasts are due not to chaos (the “butterfly effect”) but to model error stirred up a storm of debate in meteorological circles. He now conducts research in the area of systems biology. He lives in Vancouver, British Columbia.