Reactions

Reviews
Endorsements
Media Appearances

 

Reviews

‘There’s no lack of books on the shortcomings of mainstream economics. “Economists and the Powerful,” by Norbert Haering, a German financial journalist, and Niall Douglas, an Irish IT consultant, stands out from the crowd.’

Olaf Storbeck, ‘Weaponry Science,’ Reuters Breakingviews

In their new book, ‘Economists and the Powerful,’ Norbert Häring and Niall Douglas trace how the most powerful of all the social sciences became a doctrine for helping the rich – with the aid of huge sums from business. You may be familiar with a version of this critique, thanks to the film Inside Job, which described how some of the best-known economists practising today are in the pay of Wall Street. But the history unearthed by Häring and Douglas is far more disturbing – because they argue that vested interests have slanted some of economics’ most fundamental ideas.

Aditya Chakrabortty, ‘Big business has corrupted economics,’ Guardian

‘Norbert Häring and Niall Douglas provide an impressive account of distortion in professional analysis in their recent book, ‘Economists and the Powerful”

Robert A. Johnson, ‘The economics of courage,’ OECD Observer

Best economics read of 2012: Economists and the Powerful by Norbert Häring and Niall Douglas went with me to Majorca and it was a rewarding and enjoyable mistake [...] it is an important book for understanding the times in which we live. For both works, the role of power in the economy and the successful efforts of the ultra-powerful and their minions to keep their doings off society’s radar is the central theme.

Edward Fullbrook, ‘Best economics read of 2012,’ Real-World Economics Review Blog

‘Economists and the Powerful’ … should nevertheless be required reading in every university economics department, central bank and treasury department, to accelerate the journey out of the current crisis.

—William Davies, ‘Apologists for Power’, New Left Project

‘Economists and the Powerful: Convenient Theories, Distorted Facts, Ample Rewards’ by Norbert Haring and Niall Douglas nails one central fact with impeccable and uncompromising clarity: the concentration of power in the hands of a very few has ensured that the rewards at the top of the finance and business pyramids are increasingly disproportionate in relation to the economic contribution they make.

Mike Scialom, ‘How the absolutely powerful work the system,’ Cambridge Business

Michael Hudson, ‘Reality Economics,’ Counterpunch

 

Endorsements

‘Conventional economic theory deals with power by assuming that it doesn’t exist. Häring and Douglas bring power back to centre stage to devise a far more realistic vision the economy.

—Steve Keen, University of Western Sydney, School of Economics and Finance, and author of ‘Debunking Economics’

‘From governments and banks to business and labor, Häring and Douglas provide a far-reaching survey of the role played by power in economics – a role that too many economists are still determined to ignore.

—James K. Galbraith, University of Texas at Austin

‘This is an important book. It corrects current economic thinking by introducing the dimension of power. In financial and labour markets traditional economic analysis fails to understand the mounting pressure of powerful players. Their attempt to force governments to take the back seat as long as things go well, but to assume responsibility once the damage is done, has to be energetically refuted.’

—Heiner Flassbeck, Director of the Division on Globalization and Development Strategies, UNCTAD

‘Weaving the intellectual history of economics with economic history, this book presents thoughtful and often courageous arguments that help us understand how power exists everywhere – not just in politics, as the powerful and the economists who serve them want you to think, but in markets, boardrooms, workplaces, and, last but not least, in academia. Essential reading for those who are interested in reforming our economies and changing the world for the better.’

—Ha-Joon Chang, University of Cambridge, author of ‘Kicking Away the Ladder’ and ’23 Things They Don’t Tell You About Capitalism’

‘In terms of shaping economic and political history (for the better), Economists and the Powerful could turn out to be the book of the decade. It tells the story of how the discipline of economics has been captured by America’s ultra-rich and powerful, and has been used by them as a propaganda tool to stuff their pockets while leading their country and others into decline. Americans are unlikely to be ready for Häring and Douglas’s book, but the rest of the world probably is.’

—Edward Fullbrook, Editor of ‘Real-World Economics Review’

‘Haring and Douglas have provided a useful account of the ways in which the rich and powerful have steered the economics profession in directions that support their interests. Economic theory predicts that those with money will try to corrupt the discipline. This book is an effort to find the evidence to support the theory.’

—Dean Baker, Co-director of the Center for Economic and Policy Research

Media Appearances