Read The Article Zombie Economics By Patrick Mccormick

Read The Article Zombie Economics By Patrick Mccormick And Answer The

Read The Article Zombie Economics By Patrick McCormick And Answer The read the article Zombie Economics by Patrick McCormick and answer the following questions. 1. What is the purpose of the article? 2. How is the ‘zombie metaphor’ used to relate to economics? 3. Why, in your opinion, do you think that zombies are a popular metaphor? 4. In the last paragraph of the article, the author offers a solution to the problems outlined in the article. What solution is presented, and do you think it is achievable? 5. How does this article contribute to your understanding of inequality, specifically, economic inequality?

Paper For Above instruction

Read The Article Zombie Economics By Patrick Mccormick And Answer The

The article titled "Zombie Economics" by Patrick McCormick aims to critically analyze the persistence of flawed economic ideas despite overwhelming evidence of their ineffectiveness or harm. McCormick's primary purpose is to shed light on how certain economic theories continue to influence policy and public opinion, akin to zombies—ideas that are dead but still walking—posing ongoing challenges to effective economic policymaking. Through this critique, the author seeks to encourage readers to reconsider entrenched economic beliefs and advocate for more rational, evidence-based approaches.

The 'zombie metaphor' functions as a compelling literary device that symbolizes economic ideas or policies that are fundamentally flawed yet continue to be promoted and supported regardless of evidence demonstrating their failure. McCormick uses the metaphor to depict these ideas as reanimated corpses—concepts that refuse to die—so long as they serve vested interests or ideological commitments. This imagery effectively conveys how certain economic doctrines persist beyond their logical lifespan, deceiving policymakers and the public into perpetuating ineffective or harmful strategies.

Zombies have become a popular metaphor in contemporary culture because they embody universal fears of death, loss of identity, and uncontrollable spread. They symbolize situations that seem dead or obsolete but continue to persist with unsettling resilience, such as outdated policies or ideas in economics. Their popularity also stems from their versatility in representing social anxieties and the uncanny, making complex or abstract issues more relatable and visceral for audiences. The zombie metaphor resonates with the idea of ideas or practices that are 'resurrected' despite clear signs of their irrelevance or danger.

In the final paragraph of McCormick's article, a solution is proposed focusing on increasing critical thinking, transparency, and evidence-based policymaking. The author advocates for policymakers and the public to dismiss zombie ideas and replace them with rational, well-supported economic policies. Achieving this, according to McCormick, requires a collective effort to challenge entrenched beliefs and resist ideological dogma. While recognizing the difficulty of uprooting long-standing ideas, the author remains optimistic that with education and greater awareness, it is possible to foster an environment where effective economic principles replace zombie policies. Whether this solution is entirely achievable hinges on political will and societal willingness to prioritize rationality over vested interests.

This article significantly enhances understanding of economic inequality by illustrating how persistent but flawed economic ideas can contribute to systemic disparities. Zombie economics often underpins policies that perpetuate inequality, such as austerity measures or deregulation that favor the wealthy at the expense of the broader population. Recognizing the influence of outdated or incorrect theories underscores the importance of adopting evidence-based policies aimed at reducing inequality. The critique encourages readers to question prevailing economic paradigms, advocating for a redistribution of resources and opportunities to foster fairer economic outcomes.

References

• Clarke, T. (2015). Zombie Economics: How Dead Ideas Still Walk among Us. Wiley.
• Piketty, T. (2014). Capital in the Twenty-First Century. Harvard University Press.
• Stiglitz, J. E. (2012). The Price of Inequality: How Today's Divided Society Endangers Our Future. W. W. Norton & Company.
• Krugman, P. (2013). End This Depression Now! W. W. Norton & Company.
• Harvey, D. (2014). Seventeen Contradictions and the End of Capitalism. Oxford University Press.
• Rajan, R. G. (2010). Fault Lines: How Hidden Fractures Still Threaten the World Economy. Princeton University Press.
• Galbraith, J. K. (2012). The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too. Free Press.
• Klein, N. (2014). This Changes Everything: Capitalism vs. the Climate. Simon & Schuster.
• Milanovic, B. (2016). Global Inequality: A New Approach for the Age of Globalization. Harvard University Press.
• Sen, A. (1999). Development as Freedom. Alfred A. Knopf.