Rigged: How Mainstream Economics Failed Us All

Article about Dean Baker's excellent book Rigged. Rigorous math is fine but in the case of economics it became the dominant approach for economic decisions while morality and fairness were ignored.

http://theminskys.org/rigged-mainstream-economics-failed-us-all/

From the site:

In the late 19th century neoclassical economics transformed the subject into “the Calculus of Pain and Pleasure,” by introducing the concept of utility, and creating a theory based on the assumption that each individual aims to maximize their own utility. By introducing a mathematical component, the new theory offers, as Baker states, “a basis for distributing income that is independent of political decisions or moral judgments.” The discussions about class struggle and distribution of wealth, which previously dominated the economics debate, became obsolete. Ever since, the mathematical component has become the norm in mainstream economics.