Summary of Zombie Economics

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

Zombie Economics book summary
Start getting smarter:
or see our plans

Rating

8 Overall

8 Importance

8 Innovation

8 Style


Recommendation

Like the villain in a horror movie, discredited economic theories can return to haunt you. Australian economist John Quiggin claims that some of these ideas – like total privatization, perfectly rational markets and trickle-down policies – nearly destroyed the world’s economy, and that they are trying to make one more comeback. In an attempt to drive the final stake through the brain-eating, dead soul of “zombie economics,” he knifes through the five most dangerous principles of “market liberalism.” With no apparent fear of being controversial, he presents a compelling case as to why each of those “zombie ideas” failed and describes a new, alternative approach, melding the best of free-market capitalism with judicious use of government involvement to address crucial social needs. Quiggin heavily annotates his work and provides a thoughtfully researched bibliography. Though the economic jargon can, at times, slow your progress, Quiggin’s book rewards your persistence. getAbstract recommends this eerie tour through defunct yet durable economics to anyone who enjoys a good scare. Find your silver bullets, construct your booby traps and carry your axes for good measure: Quiggin says it is high time to kill those zombies once and for all.

In this summary, you will learn

  • What five “zombie” economic ideas endure and
  • How the 2008 financial crisis drove a stake through the heart of those theories.
 

About the Author

John Quiggin is an economics professor at the University of Queensland in Australia.

 

Summary

Die, Already!
Even when events ultimately disprove them, popular economic theories can take on a life of their own. Their influence, honed over decades, is hard to shake, and their impact lingers long after reality refutes them. The 2008 “Global Financial Crisis” laid bare the failures...

More on this topic

By the same author

The Golden Age
The Golden Age
8

Customers who read this summary also read

Stabilizing an Unstable Economy
Stabilizing an Unstable Economy
8
The China Triangle
The China Triangle
7
How to Speak Money
How to Speak Money
8
The Constitution of Liberty
The Constitution of Liberty
8
The Man Who Knew
The Man Who Knew
9
The Rise and Fall of Nations
The Rise and Fall of Nations
7

Related Channels

Comment on this summary

  • Avatar
  • Avatar
    Guest 7 years ago
    Dear Mr. Holzgen,

    Thank you very much for your feedback. We supply abstracts across the political and economic spectrum, so we find it quite unfortunate that the first one you read is one with which you disagree. For a point of view you might find more compatible as an antidote, might I suggest The Battle.

    In terms of our political point of view, our objective is to supply a wide range of book summaries so that our readers are well informed. Being a Swiss company, we are entirely and completely neutral.

    We hope you find many more book summaries to enjoy on our site,

    The getAbstract Team
    • Avatar
      Jerrod Holzgen 7 years ago
      i know it was just bad luck - you guys have alot of good stuff.
    • Avatar
      Guest 7 years ago
      Thanks Jerrod :) If we can be of further assistance, just let us know. Enjoy the read and thanks for being part of the getAbstract community!