Economic Indeterminacy: A Personal Encounter with the Economists’ Peculiar Nemesis

by Yanis Varoufakis

This volume is a collection of some of the best and most influential work of Yanis Varoufakis. The chapters all address the issue of economic indeterminacy, and the place of a socialized Homo Economicus within the economy. The book addresses Varoufakis key interpretation regarding the way in which neoclassical economics deals with the twin problems of complexity and indeterminacy. He argues that all neoclassical modelling revolves around three meta-axioms: Methodological individualism, Methodological instrumentalism and the Methodological Imposition of Equilibrium.

Each chapter in preceded by an introduction, which explains its place within the overarching theme of the book. The volume also includes a lengthy introduction, plus a concluding chapter focusing on the future of economics. It will be a key work for all students and researchers in the field of political economy and economic methodology.

Genres: Economics, Politics

390 pages, Hardcover

First published November 12, 2012

About the author

Ioannis "Yanis" Varoufakis is a Greek-Australian economist and politician. A former academic, he has been Secretary-General of MeRA25, a left-wing political party, since he founded it in 2018. A former member of Syriza, he served as Minister of Finance from January to July 2015 under Prime Minister Alexis Tsipras.

Reviews

[Daniel Daniel · Rating 4 out of 5]

This is not an easy read and includes quite a bit of mathematical economics. If you know Varoufakis from his politics, talks or political economy work, it's probably not for you. As a series of economics papers, it's great.