Uneconomics: a challenge to the power of the economics profession
When economists Lucas Papademos and Mario Monti were parachuted in as Prime Ministers of Greece and Italy respectively in November of last year, this heralded a new era in the power of the economics profession. With questions still being asked about the failings of economics and economists in the build-up to the financial crisis, this technocratic rebuke to democracy was further evidence that this crisis is entrenching existing elite power, rather than weakening it. Not that you would hear any of this being discussed in an economics classroom.


