The book by the famous Australian economist John Quiggin offers a critical analysis of the system of economic and political ideas (“great easing”, efficient market hypothesis, dynamic stochastic general equilibrium theory, “top-down enrichment” and privatization) that has emerged in the last three decades and played , according to the author, a decisive role in the onset of the recent Great Recession. Quiggin shows that, despite theoretical and practical refutation of these ideas, they will remain dominant in economics and economic policy until a set of compelling alternative ideas emerges. Written in accessible language, this provocative book is of interest not only to economists and political scientists, but also for a wide range of readers.