Economists and the Powerful

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"Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards" delves into the complexities of the modern global economy, highlighting the pervasive influence of power on economic behavior and the corruption of competition. Drawing from empirical and theoretical studies by distinguished economists, it exposes the stark reality that capitalism operates far differently than mainstream economic narratives suggest. By linking theoretical concepts with real-life examples, the work provides a groundbreaking perspective on capitalism's mechanics, illustrating how various groups and elites pursue their economic interests at the expense of others. Through explorations of economic history, the text reveals the origins of the political power held by contemporary financiers and uncovers systematic issues, such as the role of banks in perpetuating an unstable, debt-driven monetary system and the complicity of leading economists in enabling excessive CEO compensation without performance gains. This investigation scrutinizes the incentives that drive economists and examines the historical context of the economic doctrines shaping today's financial landscape. Ultimately, it addresses the critical yet overlooked issue of how and why the questioning of power has been sidelined in mainstream economics, shedding light on the implications of this omission for the modern financial world. For more information, visit the book's