Karim Ayoubi spent three years studying economics at Oxford University in the mid-1990s and went on to work for some of the big names in banking including JP Morgan, Goldman Sachs and Chase Manhattan, where he found that what he had learned at university didn’t measure up to reality.
They say that economics exists principally to make astrology look like a respectable profession and, in 2008, something happened that should have been impossible according to economic theory – banks crashed the world economy (and crushed what remained of the economics profession’s credibility.)
Summary
With his faith in economics in tatters, Karim embarked on a journey to understand what really drives the economy and financial markets.
He discovered ideas that had been kept from him at university, empirically derived descriptions of what really drives the economy, that explain the post-war Japanese economic miracle (and so much more.) Ideas that would enable us to create an economic renaissance in the UK today if we adopted them. Realonomics is the result of that search for truth, where reality and economics finally meet.