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A review by miguelf
Economism: Bad Economics and the Rise of Inequality by James Kwak
5.0
This book was recently recommended on the Pitchfork Economics podcast to better understand the approach that many hold on Economics that is learned in a standards Economics class. Yes, one can learn quite a bit in any 101 level course in college and often it serves as a basis for what many will use throughout their career in a field. However, simplistic approaches of supply and demand have driven negative outcomes and have perversely influenced winner take all policies and ideology. Kwak defines this as Economism, and states that it “is what you are left with if you learn the first-year models, forget that there are assumptions involved, and never get your hands dirty with real-world data”. It’s a very refreshing take throughout with various examples and does help explain the often skewed and biased approaches to complex economic issues.