Economic Myths and the Mythology of Economics (Routledge Revivals)

By E. J. Mishan

© 1986 – Routledge

230 pages

Purchasing Options:
Paperback: 9780415688758
pub: 2012-09-30
US Dollars$46.95
Hardback: 9780415682497
pub: 2011-08-29
US Dollars$155.00

About the Book

First published in 1986, Economic Myths and the Mythology of Economics is a polemical study in which the author focuses on the popular myths and misconceptions that colour our understanding of economic issues. Professor Mishan, the internationally recognised economist and expert in the field of resource allocation and cost benefit analysis, undermines the idea that economics is a science. But such are popular myths, he argues, that governments employ battalions of economists in their ongoing attempts to promote economic growth, efficiency and employment. The author challenges the validity and measurement of such concepts as economic efficiency and GNP, and questions the assumption that free competitive markets can operate effectively in a rapidly changing, high-technology society. Professor Mishan foresees in his study further expansion as an unavoidable consequence of continued innovation, while revealing the interconnecting processes by which innovative activity, designed to raise living standards, has begun to erode the moral and psychological foundations of a viable and libertarian society.


'Mishan is a thinker of positive genius. These essays are full of brilliant insights, vividly expressed. They can be read with enjoyment and profit by all people taking a an intelligent interest in the problems of the industrial world' – Guy Routh

Table of Contents

Part 1: 1. Demand-Pull and Wage-Push 2. The New Inflation Part 2: 3. The Limits to Freedom of Choice? 4. The Mystique of Economic Expertise 5. GNP: Measurement or Mirage? Part 3: 6. The Road to Repression 7. The Future Is Worse Than It Was 8. Religion, Capitalism and Technology

About the Series

Routledge Revivals

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Drawing from over 100 years of innovative, cutting-edge, publishing Routledge Revivals is an exciting new programme whereby key titles from the distinguished and extensive backlist of the many acclaimed imprints associated with Routledge will be re-issued.

The programme draws upon the illustrious backlists of Kegan Paul, Trench & Trubner, Routledge & Kegan Paul, Methuen, Allen & Unwin and Routledge itself.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic Conditions
BUSINESS & ECONOMICS / Economics / Macroeconomics