Controversies in Economics and Finance

Puzzles and Myths

Imad A. Moosa, Professor of Economics, Kuwait University, Kuwait

In this fascinating book, Imad A. Moosa challenges existing preconceptions surrounding normative economics, arguing that what some economists see as undisputed facts of life may be myths caused by dogmatic thinking. Plausible explanations are suggested for puzzles in various areas of economics and finance, such as the home bias puzzle, the PPP puzzle and the presidential puzzle. Controversies in Economics and Finance is a thought-provoking and stimulating read that exposes common flaws in economic analysis. It will be of great benefit to academics, graduate students and policy-makers looking to understand the limits of economic analysis.

‘Everyone loves a good puzzle. Moosa (re)introduces the reader to puzzles across a wide range of economics and finance topics and provides serious investigation, interpretation, discussion, and solutions for each. At bottom-line, he argues that most of these puzzles and paradoxes are neither and that one researcher’s myth is another’s indisputable fact. Moosa’s presentation is extraordinarily lucid and logically constructed. He brings clarity to confusion and insight where it has been missing. Researchers, young and old, will benefit from the incisive examination Moosa brings to these Controversies.’
– Ronald D. Ripple, PhD, Mervin Bovaird Professor of Energy Business and Finance (retired), University of Tulsa, US

‘Professor Imad Moosa’s text will be welcomed by anyone who values and seeks clear thinking in relation to those areas of the social sciences that determine the social and economic environment in which we live. To this end, the text succeeds in penetrating the discipline’s fabric of “received wisdom” with its bogus puzzles and perpetrated myths. In doing so, the text shines a much-needed light on the corrupted nature of academic publishing that continues to masquerade as meaningful academic research. If a first step to achieving meaningful academic institutions in our society is the recognition of the failures of the current system, then this text represents just such a step.’
——迈克尔·邓普西Tan Duc Thang (TDT) University, Vietnam