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Money, Blood and Revolution: How Darwin and the doctor of King Charles I could turn economics into a science

Book Description

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 man to understand blood flow and the workings of the human heart. In Money, Blood and Revolution, 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. #autoshambles

Table of Contents

  1. Cover
  2. Publishing details
  3. Praise for The Origin of Financial Crises
  4. List of Figures
  5. Follow us, like us, email us
  6. About the Author
  7. Preface
  8. 1. Introduction: The Broken Science
    1. 1.1 To Crash Now or Later?
    2. 1.2 Big Government, Small Government or Both?
    3. 1.3 From Malign Neglect to Policy Paralysis
    4. 1.4 Self-contradictory Truths
    5. 1.5 We Have an Interesting Problem
  9. PART I: SCIENCE
    1. 2. Scientific Revolutions
      1. 2.1 Thomas S. Kuhn
      2. 2.2 Two Flavours of Science: Mr Spock vs Captain Kirk
      3. 2.3 Kuhn’s Analysis and Economics
    2. 3. A Crisis in the Heavens
      1. 3.1 Copernicus – The First and Most Important Revolutionary
      2. 3.2 Early Astronomical Models
      3. 3.3 The Copernican Revolution
      4. 3.4 Bruno and Galileo
      5. 3.5 Copernicus’s Achievement
    3. 4. Blood and Bacon
      1. 4.1 Hippocrates and his Theory of the Humours
      2. 4.2 Rejection and Acceptance
      3. 4.3 Harvey, Bacon and the Shakespeare Controversy
    4. 5. Darwin’s Theory of Species
      1. 5.1 Early Ideas of Species
      2. 5.2 The Discrepancies
      3. 5.3 Alternative Theories of Species
      4. 5.4 Darwin’s Breakthrough
      5. 5.5 The Rejection
    5. 6. Continents and Revolutions
      1. 6.1 A Profusion of Explanations
      2. 6.2 Lessons of the Revolutions
  10. PART 2. ECONOMICS
    1. 7. Economics – Ripe for Revolution
      1. 7.1 Economics in a State of Un-civil War
      2. 7.2 Behavioural School
      3. 7.3 Institutional School
      4. 7.4 The Problem of Herding Economists
      5. 7.5 Computational Complexity
      6. 7.6 Conclusion
    2. 8. Borrowing From Mr Darwin
      1. 8.1 The Ultimate Competitor
      2. 8.2 Are We Competitors Or Optimisers?
      3. 8.3 Some Thought Experiments on Competition vs Optimisation
      4. 8.4 Darwin Refutes Marx and Smith
      5. 8.5 Darwin Refutes the Libertarians
      6. 8.6 Summary
    3. 9. The Paradigm Shift
      1. 9.1 An Unreasonably Brief Political History of the World
      2. 9.2 A Circulatory Theory of Economic Growth
      3. 9.3 Resolving the Scientific Crisis in Economics
      4. 9.4 A Clear Economic Anatomy
      5. 9.5 Striking the Balance
      6. 9.6 Circulatory Growth and Monetary vs Keynesian Policy
    4. 10. Policy Implications
      1. 10.1 The Fifth Labour of Hercules
      2. 10.2 Conclusion
  11. Bibliography
  12. Also from Harriman House