Not really. Mainstream economics is like you describe. Real economics is way different. However, this science is yet being written on. Different schools add/omit different materials.
I think economics should be a progressive study. It needs to evolve to meet the needs of the society not the other way round.
What do you mean what work? The Current Pension Rebate, How to solve a credit crunch, Alternative methods of controlling aggregate demand etc. Have you never read any of it?
i remember clearly there was this piece of art that looks like half a ship somewhere in wales which i won't say, that the local gov't put there and it cost something like 400k pounds or half a mil, can you imagine how much good the use of this amount which is quite inconsiderable can do if put to for social good, that is one example of the root of the problem, not the tools for tax or rebates, and that art piece is real ugly btw
Not interested in controlling something that does not exist. Aggregate demand is something Keynesian economics made up. Good luck.
They do waste a lot of money. In relation to aggregate demand control. For example imagine that instead of interest rate rises to control inflation they made people save more for a pension. This would reduce prices and help plug the pension shortfall too. There can be benefits from negative situations you just have to be creative. Anyway this is getting away from the topic. The point I am making is the action to bailout the banks only deals with the effects of default not the existing over lending. In short it is just a matter of time before the inflexibility in the banking system creates more defaults and the banks will need a bailout again.
Monetarists do it too. Also that is not my only work. I have an alternative banking system, taxation system, sdrm etc. Basically a whole new system.