Economyths is a book by the mathematician David Orrell about the problems with mainstream economics, written for the general reader.
Icon published a revised version in 2012, with the subtitle How the Science of Complex Systems Is Transforming Economic Thought.
Orrell also suggests that adopting the science of complex systems would radically improve economic policymaking.”[6] The economist Robert Nelson wrote in the International Journal of Social Economics that the book suffered from a number of omissions, in particular a fuller exploration of “the religious roles played by neo-classical economics.” However he concludes that “Whatever its omissions and other failings, much of the book is devoted to making a strong case for one very important finding – the intellectual poverty of neo-classical economics... A wide audience including many non-economists could benefit from reading it.”[7] In National Review, economist Michael Yates also noted some omissions, such as a discussion of worker organisation, but wrote that the book “makes sound recommendations that economists utilize methods of analysis and techniques that have proven their worth in other fields of study... Economists ignore such research at their peril.”[8] The economist and business journalist Norbert Häring wrote in Handelsblatt that Orrell's background as a mathematician allowed him “to question credibly and convincingly the claim of economics for quasi-scientific objectivity and mathematical precision.”[9] Writing at the economics blog Worthwhile Canadian Initiative, economist Frances Woolley described the writing as “just random... it never really gets further than just a semi-articulated idea,” and economist Kevin Milligan wrote that the “level of criticism in this book is juvenile.”[10] The economist Chris Auld described the book in a blog review as "a terrible, willfully ignorant, deeply anti-intellectual book" and said that Orrell's "characterization of economic thought presented is ridiculous... there is nothing an interested layman could possibly learn from this book."
He noted a number of times in which he claimed Orrell misrepresents economics as a discipline and the views of economists.
[11][12] Writing at the Popular Science book site, the science writer Brian Clegg wrote that “There are other books taking on economics, but I've not come across another that explains it so well for the layperson, takes in the credit crunch, totally destroys the validity of economics as we know it and should be required reading for every politician and banker.