The End of Progress: How Modern Economics Has Failed Us

As Graeme Maxton’s important and entertaining book demonstrates, modern economic theory contains fundamental errors that any intelligent child could spot. This is not just an academic problem; we’ve left economists to run the world—and the planet is careening toward disaster as a result. Graeme Maxton is one of the first observers to note that world economic growth has reached hard limits. We ignore this shattering news at our peril. But if we can rid modern economic theory of a few fundamental and obvious errors, then a transition to a sustainable and satisfactory new economy is entirely feasible. The End of Progress is a vitally important and highly readable book–read it and have your eyes opened!
Richard Heinberg
Senior Fellow, Post Carbon Institute
Author, Peak Everything
Graeme Maxton’s panoramic view of economic history reaches back to Adam Smith and the moral and social philosophy that underpinned the Scotsman’s belief in free markets. That inspires Maxton’s timely and trenchant critique of modern capitalism and the drug of consumption, financed with debt, which led western countries to the financial crisis of 2008. Only by learning the true lessons, Maxton suggests, will they set themselves on a sustainable economic path.
John Gapper
Financial Times columnist
The End of Progress accuses economic thinking about markets of a failure that is leading us towards a dark future. Maxton says the financial meltdown and its aftermath, extremes of income inequality, and the looming crisis over resource availability, consumerism and climate change beckon solutions, for which we are ill–equipped. Maxton should be knocking on open doors in calling for change.
George Magnus
Author of Uprising
Senior Economic Adviser, UBS
Graeme Maxton has produced an important and timely book. It’s impossible to argue with his conclusion tha t the world has taken a wrong turning, and that much is set to change in the near future. The End of Progress should be read by as wide an audience as possible, most of whom will find themselves nodding in agreement as they read his analysis of what has gone wrong, and his suggestions for putting things right.
Giles Chance
Author, China and the Credit Crisis: The Emergence of a New World Order
Visiting Professor, Guanghua School of Management, Peking University

Spis treści:
Acknowledgments xiii
1 It’s About You—You Are Responsible Too 1
Part 1 Our Belief in The Free Market Failed Us 9
2 Too Much Choice, Too Little Restraint 11
Fetch the Tool Box 11
Economics Is Not Rocket Science: It Is Not Even Science 16
How Has Economics Failed Us? Let Me Count the Ways 17
A DVD Player Should Cost More than Lunch 19
For Richer and Poorer 20
3 A Broken Financial System 23
Consumption, Not Love, Was the Drug 23
How Far Is Down? 26
Consumer Debt 27
Bank Debt 32
Government Debt 39
4 Squandering Our World 47
Who Owns the World’s Resources? 47
You Don’t Like These Principles? I Have Others 50
We’ll Know What It’s Worth When It’s Gone 51
Our Rare Earth 52
Seven Billion into Water Won’t Go 54
Laissez–Faire, No Thanks 55
5 The Damaging Power of Me 61
Me, Myself, I 61
The Retreat of Conservatism 63
Kiasu. Bless You 64
Greed Is Not Good, Gordon 65
Part 2 Running Blind—We Are Poorly Equipped to Deal with These Challenges 69
6 Can You Read Kant? 71
Don’t Start from Here 71
Well, Duh! 74
Going My Way? 78
7 Who Is in Charge? 81
Someone Needs to Make Decisions 81
Nothing Is Terrible Except Fear Itself 83
Man Is Born Free but Everywhere Is in Chains 84
Who Is in Charge? 89
8 China’s Ris ing Influence Will Not Help 93
It Can Get Worse 93
The Dragon Is Awake 94
Of Privileges and Principles 96
There Is Anger Too 100
Be Careful What You Wish For 104
Playing for Power 106
Part 3 The Implications of These Failures Will Be Hard 117
9 We Will Become Financially Poorer 119
But Answers Are Easy, Aren’t They? 120
The Long Tail 121
All Comes Tumbling Down 123
Goodbye Stimulus Packages, Hello Savage State Cutbacks 125
More Air Will Not Work 128
You Need Another Hole in That Belt 129
10 Our Way of Life Will Change 133
In the Energy Battles, No One Will Play Nicely 134
When You Are in a Hole, Keep Digging 138
Shine Some Light on the Problem 146
11 We Will Become Less Healthy 151
How Much Oil Is in That Salad? 154
I’ll Give the Scalpel a Wipe Then 158
Was That a Cough? 159
The Buzz Has Gone 162
12 We Need to Diffuse the Threats of Conflict 169
We Do Things Differently, Don’t You See? 171
The Cupboard Will Soon Be Bare 174
But You Promised! 180
Climate Change Will Bring Threats of Confl ict Too 182
Part 4 Light in an Age of “Endarkenment” 185
13 We Need to Change 187
You Just Need a New Washer, Mate 188
14 Other Options Need Debate 203
From Progress to Poverty 203
Give the Flowers the Power 204
That Pip Squeak? 207
15 You. You Have a Role Now Too 219
Index 223

Nota biograficzna:
Graeme Maxton is an economist, author and presenter, well–known for his punchy, clearly–articulated analysis on global affairs. A freelance contributor to The Economist for many years he also writes for a variety of other publications in Europe and Asia.  He is a frequent host on CNBC’s Squawk Box and Capital Connection and a regular guest on BBC and CNN news programs. He is the co–author of two previous books, Driving Over a Cliff, which was nominated for the Best Book About Business Award, and Time for a Model Change. He is based in Vienna and Singapore.

Okładka tylna:
As Graeme Maxton’s important and entertaining book demonstrates, modern economic theory contains fundamental errors that any intelligent child could spot. This is not just an academic problem; we’ve left economists to run the world—and the planet is careening toward disaster as a result. Graeme Maxton is one of the first observers to note that world economic growth has reached hard limits. We ignore this shattering news at our peril. But if we can rid modern economic theory of a few fundamental and obvious errors, then a transition to a sustainable and satisfactory new economy is entirely feasible. The End of Progress is a vitally important and highly readable book–read it and have your eyes opened!
Richard Heinberg
Senior Fellow, Post Carbon Institute
Author, Peak Everything
Graeme Maxton’s panoramic view of economic history reaches back to Adam Smith and the moral and social philosophy that underpinned the Scotsman’s belief in free markets. That inspires Maxton’s timely and trenchant critique of modern capitalism and the drug of consumption, financed with debt, which led western countries to the financial crisis of 2008. Only by learning the true lessons, Maxton suggests, will they set themselves on a sustainable economic path.
John Gapper
Financial Times columnist
The End of Progress accuses economic thinking about markets of a failure that is leading us towards a dark future. Maxton says the financial meltdown and its aftermath, extremes of income inequality, and the looming crisis over resource availability, consumerism and climate change beckon solutions, for which we are ill–equipped. Maxton should be knocking on open doors in calling for change.
George Magnus
Author of Uprising
Senior Economic Adviser, UBS
Graeme Maxton has produced an important and timely book. It’s impossible to argue with his conclusion that the world has taken a wrong turning, and that much is set to change in the near future. The End of Progress should be read by as wide an audience as possible, most of whom will find themselves nodding in agreement as they read his analysis of what has gone wrong, and his suggestions for putting things right.
Giles Chance
Author, China and the Credit Crisis: The Emergence of a New World Order
Visiting Professor, Guanghua School of Management, Peking University