Paul Ormerod

Ormerod is the author of "Death of Economics" in 1994, he held a critique of classical economics the idea of ​​equilibrium which according Omerod that the actual price level is determined never penawaran.Omerod meeting between demand and also against the idea that there is a simple relationship between unemployment and inflation are presented Bill Phillips. Phillips is trying to trace the relationship between the rate of increase in the wage statistics and unemployment rates, higher core rate of wage increases, the lower the unemployment rate. Conversely the higher the unemployment the lower the wage increase.

Omerod shows that there is no inflation-unemployment relationship. He said there are important events that are non economic influence the relationship between inflation and unemployment, Omerod prefer to put social values ​​as a factor as a factor affecting the dynamics of the economy. The concept is then formulated with no linear mathematical principles and rules of indeterminism so that economics is similar to the predicted biological changes that occur