Abstract:Conventional economics is deeply and fundamentally flawed, beyond the
possibility of reform and repair. Its failings in the real world became obvious to all
following the global financial crisis. The root of the problem is the theory of human
behavior represented by “homo economicus”. The idea that short-sighted greed is
“rational” is sheer folly. The theory is maintained in face of overwhelming empirical
evidence to the contrary only because it serves the ideological interests of the rich and
powerful capital… Show more
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