Economic Insanity

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Obeng-Odoom , F 2021 , ' Economic Insanity ' , American Journal of Economics and Sociology , vol. 80 , no. 2 , pp. 747-755 .

Title: Economic Insanity
Author: Obeng-Odoom, Franklin
Contributor: University of Helsinki, Global Development Studies
Date: 2021-03
Language: eng
Number of pages: 9
Belongs to series: American Journal of Economics and Sociology
ISSN: 0002-9246
Abstract: Richard Giles, a leading Australian Georgist political economist, suggests that criticisms of mainstream economics can be reduced to three: neglect of the Physiocrats, rejection of Georgist political economy, and the attempted revival of Georgist land economics with faulty variants of those principles. Yet, in defending Georgism, Giles fails to show it can resolve the legacies of chattel slavery, colonialism, and neocolonialism. Despite that limitation, Giles shows that the renewal of land economics is essential to achieving economic justice. Along the way, Giles provides original insights about the limitations of modern monetary theory, the Malthusian economics of global migration, and the rise of global nationalism.
Subject: 511 Economics
5141 Sociology
5203 Global Development Studies

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