Zombie Economics : How Dead Ideas Still Walk among Us

Frontmatter -- Contents -- Preface to the Paperback Edition -- Preface to the First Edition -- Introduction -- Chapter 1. The Great Moderation -- Introduction -- Birth: Calm after the Storms -- Life: The Great Risk Shift -- Death: The Dissenters and Their Vindication -- Reanimation: A Global Crisis or a Transitory Blip? -- After the Zombies: Rethinking the Experience of the Twentieth Century -- Further Reading -- Chapter 2. The Efficient Markets Hypothesis -- Introduction -- Birth: From Casino to Calculating Machine -- Life: Black-Scholes, Bankers, and Bubbles -- Death: The Crisis of 2008 -- Reanimation: Chicago Revives the Dead -- After the Zombies: The State and the Market -- Further Reading -- Chapter 3 Dynamic Stochastic General Equilibrium -- Introduction -- Birth: From the Phillips Curve to the NAIRU, and Beyond -- Life: Rationality and the Representative Agent -- Death: How Did Economists Get It So Wrong? -- Reanimation: How Obama Caused the Global Financial Crisis -- After the Zombies: Toward a Realistic Macroeconomics -- Further Reading -- Chapter 4. Trickle -down Economics -- Introduction -- Birth: From Supply-side Economics to Dynamic Scoring -- Life: Excuses for Inequality -- Death: The Rich Get Richer and the Poor Go Nowhere -- Reanimation: Mobility without Movement -- After the Zombies: Economics, Inequality, and Equity -- Further Reading -- Chapter 5. Privatization -- Introduction -- Birth: We Are All Market Liberals Now -- Life: A Policy in Search of a Rationale -- Death: Puzzles and Failures -- Reanimation: Dead for Good? -- After the Zombies: The Mixed Economy -- Further Reading -- Chapter 6. Expansionary Austerity -- Introduction -- Birth: The Treasury View -- Life: The Great Depression -- Death: The Success of Keynesianism -- Reanimation: Expansionary Austerity and the Euro -- After the Zombies: The Case for Hard Keynesianism -- Further Reading -- Conclusion. Economics for the Twenty -first Century -- Rethinking the Experience of the Twentieth Century -- A New Approach to Risk and Uncertainty -- What Is Needed in Economics -- References -- Index