The Econocracy review – how three students caused a global crisis in economics
by Aditya Chakrabortty from on (#2C1JH)
Unhappy at how economics is out of touch with reality and defined by an elite, Joe Earle, Cahal Moran and Zach Ward-Perkins sum up their explosive call for change
In the autumn of 2011, as the world's financial system lurched from crash to crisis, the authors of this book began, as undergraduates, to study economics. While their lectures took place at the University of Manchester the eurozone was in flames. The students' first term would last longer than the Greek government. Banks across the west were still on life support. And David Cameron was imposing on Britons year on year of swingeing spending cuts.
Related: The end of capitalism has begun
The high priests of economics still hold power, but they no longer have legitimacy
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