Review: The Imaginary Economy by Mario Fabbri
A pioneering Italian businessman reveals hidden truths about the framework of modern economics in The Imaginary Economy: A New Conception.
Beginning with the proposition that standard economic theory is based on “egregious mathematical mistakes” that don’t fit with real life, author Mario Fabbri notes that economic growth in the US from its inception until now has been amazingly stable – 1.9% per annum. There have been some deviations, as during the Great Depression, but these quickly self-correct. Why then do economists and politicians continue to assert that a particular policy or method would make huge changes in our economy?[…]
In a chance meeting, crossing between new town and old in the city of Portland, Oregon, economic writer Rand McGreal and French economist Jean Baptiste Say find themselves in commonality. Sitting to discuss their ideas, Say elaborates the ideas that made him notable, all the while answering the challenges and queries of the curious McGreal. Recording the encounter, McGreal has published his discussions in his new book: Killing an Idea: Exhuming Say’ Law, the second part of Rand McGreal’s Lost Economics series.
