At last, a new Econ 101 textbook
CORE’s “The Economy” vs homo economicus.
Neoclassical economics is a hell of a drug. It has no theory of prices, no account of inflation, and its models all presume the existence of a perfectly rational “homo economicus” who is a “utility maximizer” with perfect information.
Even the Queen is wise to the scam, grilling Bank of England economists over…