A book-sized pamphlet encouraging readers to challenge their professors and generally disrupt consumerism. Picked it up for the title, and looked through it because I subscribe to the idea of seeking disconfirming evidence.
Although I'm clearly not the target audience, I found its presentation style interesting (if "noisy", which I think it somewhat hypocritically critiques capitalist systems for).
As one might expect, the book overlooks the benefits that rule of law and economic prosperity bring; its critiques, however, are meaningful:
- markets at equilibrium of supply and demand can still leave tons of people "starving since they can't provide the demand" -- ie while equilibrium optimizes supply/demand, one may want to have an objective function that accounts for human well-being
- advertising is a form of pollution
- modern, consumption-oriented lifestyle separates us from other, simpler pleasures of experiencing nature (with focus squarely on the pleasant parts of experiencing nature without modern safety nets)
- ignoring negative externalities such as pollution and its present and future costs is dangerous; exponential growth of resource consumption is unsustainable
- people are happier if they have more social interactions, so optimizing income at expense of time off may be suboptimal
- people are bad at predicting their own happiness (they think they would be happier spending $5 or $20 given to them on themselves, whereas the opposite turns out to be true -- pro social spending feels better in retrospect
- economics as it is typically taught overemphasizes perfect competition and equilibria, whereas in the real world one can have abnormal, monopolistic profits collected by large corporations through high advertising spending, political lobbying, etc (the book suggests protesting and fighting such corporate power by opting out of banking at large banks and so on; unfortunately, propaganda is most effective when it encourages people _not_ to think; this book asks for its target audience to rethink things)
I also leaned about the Moniac from this oddball book, which is a hydraulic contraption modeling the money flows int he economy, complete with things like taxes, monetary reserve, etc.