ABSTRACT

In Making Sense of Economics Edward Nell presents an unorthodox and original view of the current state of economic theory and policies. Deriding the general trend for 'econobabble', the author explains the reason why conventional wisdom in economics now seems irrelevant and looks to likely future scenarios. Entertaining throughout, Nell employs a lightness of touch and wit not generally associated with economic literature. It is an accessible and enjoyable read which requires minimal prior knowledge of econoimcs. It will appeal to those who care what is really happening in the economy.

chapter 1|13 pages

Introduction

Economics at the Alumni Club

part 1|73 pages

Understanding and Misunderstanding Markets

chapter 1|29 pages

Mainstream or Billabong?

chapter 2|22 pages

Invisible Hands

The price mechanism or the multiplier?

chapter 3|18 pages

Institutions

Market incentives and the general good

part 2|36 pages

Running the System

chapter 4|14 pages

The Paradoxes of Individualism

chapter 5|20 pages

Alternatives

Austerity vs. full employment

part 3|34 pages

Private Markets and Public Morals

chapter 6|13 pages

Markets, Bureaucracy and Machiavelli

chapter 7|19 pages

Moral Codes and Market Forces

part 4|44 pages

A New World Order?

chapter 8|17 pages

Twilight in the Marketplace

chapter 9|19 pages

Individualism and the Dilemma of the State

chapter 10|6 pages

Epilogue

The world as seen from Woodstock