Expending The Neoclassical Vision

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Contending Economic Theories

Author : Richard D. Wolff
Publisher : MIT Press
ISBN 13 : 0262517833
Total Pages : 425 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Contending Economic Theories by : Richard D. Wolff

Download or read book Contending Economic Theories written by Richard D. Wolff and published by MIT Press. This book was released on 2012-09-07 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Neoclassical Economic Theory, 1870 to 1930

Author : Klaus Hennings
Publisher : Springer Science & Business Media
ISBN 13 : 9400921810
Total Pages : 380 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis Neoclassical Economic Theory, 1870 to 1930 by : Klaus Hennings

Download or read book Neoclassical Economic Theory, 1870 to 1930 written by Klaus Hennings and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warren J. Samuels Each book in this series explores the present status of its field in terms of where it is, how it got there, the existing tensions within the field, and something of how the field might develop in the future. Each book presumes that work in each field is neither settled nor unequivocal. Each book attempts to comprehend its field as an evolving, developmental process or set or efforts. This particular book, covering neoclassical economics, is the third of three in the field of the History of Economic Thought. The others are Pre-Classical Economic Thought, edited by S. Todd Lowry, and Classical Political Economy, edited by William O. Thweatt. Each one conducts the same kind of analysis as the others in the series, with the understanding that here we are dealing with the history of interpretation, rather than a substantive body of analysis of a certain aspect of the economy: for example, labor or international trade. (That understanding must be com plex and subtle, inasmuch as revision of interpretation of earlier ideas is part of the process-both cause and consequence-of re-analyzing the economy. ) In this group we are interested in how recent and contemporary writers have interpreted the history of economic thought differently, both among themselves and from earlier writers. 1 NEOCLASSICAL ECONOMIC lHEORY 2 Several topics must be discussed to place such work in perspective, in part as it is here applied to the history of the interpretation of neoclassical economics.

An Evolutionary Theory of Economic Change

Author : Richard R. Nelson
Publisher : Harvard University Press
ISBN 13 : 9780674041431
Total Pages : 456 pages
Book Rating : 4.0/5 (414 download)

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Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Debunking Economics

Author : Steve Keen
Publisher : Zed Books
ISBN 13 : 9781856499927
Total Pages : 356 pages
Book Rating : 4.4/5 (999 download)

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Book Synopsis Debunking Economics by : Steve Keen

Download or read book Debunking Economics written by Steve Keen and published by Zed Books. This book was released on 2001-07-28 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the score card for economics at the start of the new millennium? While there are many different schools of economic thought, it is the neo-classical school, with its alleged understanding and simplistic advocacy of the market, that has become equated in the public mind with economics. This book shows that virtually every aspect of conventional neo-classical economics' thinking is intellectually unsound. Steve Keen draws on an impressive array of advanced critical thinking. He constitutes a profound critique of the principle concepts, theories, and methodologies of the mainstream discipline. Keen raises grave doubts about economics' pretensions to established scientific status and its reliability as a guide to understanding the real world of economic life and its policy-making.

Capital as Power

Author : Jonathan Nitzan
Publisher : Routledge
ISBN 13 : 1134022298
Total Pages : 853 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Capital as Power by : Jonathan Nitzan

Download or read book Capital as Power written by Jonathan Nitzan and published by Routledge. This book was released on 2009-06-02 with total page 853 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.

The Reconstruction of Economic Theory

Author : Philip Mirowski
Publisher : Springer
ISBN 13 : 0585268797
Total Pages : 270 pages
Book Rating : 4.5/5 (852 download)

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Book Synopsis The Reconstruction of Economic Theory by : Philip Mirowski

Download or read book The Reconstruction of Economic Theory written by Philip Mirowski and published by Springer. This book was released on 2007-06-30 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The mandate given to the editor of the present volume was succinct and to the point: gather together some of the most recent attempts to remake economic theory at its most fundamental levels, and avoid the two debased brands of academic revolutions. Now, anyone would have realized that this would be a devilishly difficult task, more likely than not to backfire; but, in retrospect, the editor still marvels at the complacency with which he embarked on the enterprise. It was quite easy to identify the critics of conventional economics who had little more than criticism to offer; it was much more difficult to feel certain that he had actually stumbled upon a substantive divergence from the orthodoxy that appeared to promise further fruitful developments. ... Forewarned and forearmed, the prospective reader should then be equipped to judge for him- or herself whether truth in advertising has been further abused, or if something a little more interesting and entertaining is afoot."--Pages 1-2

Adam Smith's Moral Philosophy

Author : Jerry Evensky
Publisher : Cambridge University Press
ISBN 13 : 1139446770
Total Pages : 364 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Adam Smith's Moral Philosophy by : Jerry Evensky

Download or read book Adam Smith's Moral Philosophy written by Jerry Evensky and published by Cambridge University Press. This book was released on 2005-10-03 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith is the best known among economists for his book, The Wealth of Nations, often viewed as the keystone of modern economic thought. For many he has become associated with a quasi-libertarian laissez-faire philosophy. Others, often heterodox economists and social philosophers, on the contrary, focus on Smith's Theory of Moral Sentiments, and explore his moral theory. There has been a long debate about the relationship or lack thereof between these, his two great works. This work treats these dimensions of Smith's work as elements in a seamless moral philosophical vision, demonstrating the integrated nature of these works and Smith's other writings. This book weaves Smith into a constructive critique of modern economic analysis (engaging along the way the work of Nobel Laureates Gary Becker, Amarty Sen, Douglass North, and James Buchanan) and builds bridges between that discourse and the other social sciences.

The Cult of the Market

Author : Lee Boldeman
Publisher : ANU E Press
ISBN 13 : 1921313544
Total Pages : 330 pages
Book Rating : 4.9/5 (213 download)

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Book Synopsis The Cult of the Market by : Lee Boldeman

Download or read book The Cult of the Market written by Lee Boldeman and published by ANU E Press. This book was released on 2007-10-01 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'The Cult of the Market: Economic Fundamentalism and its Discontents' disputes the practical value of the shallow, all-encompassing, dogmatic, economic fundamentalism espoused by policy elites in recent public policy debates, along with their gross simplifications and sacred rules. Economics cannot provide a convincing overarching theory of government action or of social action more generally. Furthermore, mainstream economics fails to get to grips with the economic system as it actually operates. It advocates a more overtly experimental, eclectic and pragmatic approach to policy development which takes more seriously the complex, interdependent, evolving nature of society and the economy. Importantly, it is an outlook that recognises the pervasive influence of asymmetries of wealth, power and information on bargaining power and prospects throughout society. The book advocates a major reform of the teaching of economics"--Provided by publisher.

Adam's Fallacy

Author : Duncan K. Foley
Publisher : Harvard University Press
ISBN 13 : 0674027078
Total Pages : 284 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Adam's Fallacy by : Duncan K. Foley

Download or read book Adam's Fallacy written by Duncan K. Foley and published by Harvard University Press. This book was released on 2009-06-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book could be called "The Intelligent Person's Guide to Economics." The title expresses Duncan Foley's belief that economics at its most abstract and interesting level is a speculative philosophical discourse, not a deductive or inductive science. Adam's fallacy is the attempt to separate the economic sphere of life, in which the pursuit of self-interest is led by the invisible hand of the market to a socially beneficial outcome, from the rest of social life, in which the pursuit of self-interest is morally problematic and has to be weighed against other ends.

Transcritique

Author : Kojin Karatani
Publisher : MIT Press
ISBN 13 : 9780262263368
Total Pages : 382 pages
Book Rating : 4.2/5 (633 download)

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Book Synopsis Transcritique by : Kojin Karatani

Download or read book Transcritique written by Kojin Karatani and published by MIT Press. This book was released on 2005-01-14 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kojin Karatani's Transcritique introduces a startlingly new dimension to Immanuel Kant's transcendental critique by using Kant to read Karl Marx and Marx to read Kant. In a direct challenge to standard academic approaches to both thinkers, Karatani's transcritical readings discover the ethical roots of socialism in Kant's Critique of Pure Reason and a Kantian critique of money in Marx's Capital. Karatani reads Kant as a philosopher who sought to wrest metaphysics from the discredited realm of theoretical dogma in order to restore it to its proper place in the sphere of ethics and praxis. With this as his own critical model, he then presents a reading of Marx that attempts to liberate Marxism from longstanding Marxist and socialist presuppositions in order to locate a solid theoretical basis for a positive activism capable of gradually superseding the trinity of Capital-Nation-State.

Architecture Since 1400

Author : Kathleen James-Chakraborty
Publisher :
ISBN 13 : 9780816673964
Total Pages : 0 pages
Book Rating : 4.6/5 (739 download)

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Book Synopsis Architecture Since 1400 by : Kathleen James-Chakraborty

Download or read book Architecture Since 1400 written by Kathleen James-Chakraborty and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lavishly illustrated, Architecture since 1400 presents key moments and innovations in architectural modernity around the globe. Making clear that visionary architecture has never been the exclusive domain of the West and recognizing the diversity of those responsible for commissioning, designing, and constructing buildings, this book provides a sweeping, cross-cultural history of the built environment over six centuries.

Beyond Growth

Author : Herman E. Daly
Publisher : Beacon Press
ISBN 13 : 0807047066
Total Pages : 265 pages
Book Rating : 4.8/5 (7 download)

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Book Synopsis Beyond Growth by : Herman E. Daly

Download or read book Beyond Growth written by Herman E. Daly and published by Beacon Press. This book was released on 2014-09-30 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Daly is turning economics inside out by putting the earth and its diminishing natural resources at the center of the field . . . a kind of reverse Copernican revolution in economics." --Utne Reader "Considered by most to be the dean of ecological economics, Herman E. Daly elegantly topples many shibboleths in Beyond Growth. Daly challenges the conventional notion that growth is always good, and he bucks environmentalist orthodoxy, arguing that the current focus on 'sustainable development' is misguided and that the phrase itself has become meaningless." --Mother Jones "In Beyond Growth, . . . [Daly] derides the concept of 'sustainable growth' as an oxymoron. . . . Calling Mr. Daly 'an unsung hero,' Robert Goodland, the World Bank's top environmental adviser, says, 'He has been a voice crying in the wilderness.'" --G. Pascal Zachary, The Wall Street Journal "A new book by that most far-seeing and heretical of economists, Herman Daly. For 25 years now, Daly has been thinking through a new economics that accounts for the wealth of nature, the value of community and the necessity for morality." --Donella H. Meadows, Los Angeles Times "For clarity of vision and ecological wisdom Herman Daly has no peer among contemporary economists. . . . Beyond Growth is essential reading." --David W. Orr, Oberlin College "There is no more basic ethical question than the one Herman Daly is asking." --Hal Kahn, The San Jose Mercury News "Daly's critiques of economic orthodoxy . . . deliver a powerful and much-needed jolt to conventional thinking." --Karen Pennar, Business Week Named one of a hundred "visionaries who could change your life" by the Utne Reader,Herman Daly is the recipient of many awards, including a Grawemeyer Award, the Heineken Prize for environmental science, and the "Alternative Nobel Prize," the Right Livelihood Award. He is professor at the University of Maryland's School of Public Affairs, and coauthor with John Cobb, Jr., of For the Common Good.

Economics: The User's Guide

Author : Ha-Joon Chang
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1620408147
Total Pages : 385 pages
Book Rating : 4.6/5 (24 download)

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Book Synopsis Economics: The User's Guide by : Ha-Joon Chang

Download or read book Economics: The User's Guide written by Ha-Joon Chang and published by Bloomsbury Publishing USA. This book was released on 2015-10-20 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the internationally bestselling author and prizewinning economist--a highly original guide to the global economy. In his bestselling 23 Things They Don't Tell You About Capitalism, Cambridge economist Ha-Joon Chang brilliantly debunked many of the predominant myths of neoclassical economics. Now, in an entertaining and accessible primer, he explains how the global economy actually works--in real-world terms. Writing with irreverent wit, a deep knowledge of history, and a disregard for conventional economic pieties, Chang offers insights that will never be found in the textbooks. Unlike many economists, who present only one view of their discipline, Chang introduces a wide range of economic theories, from classical to Keynesian, revealing how each has its strengths and weaknesses, and why there is no one way to explain economic behavior. Instead, by ignoring the received wisdom and exposing the myriad forces that shape our financial world, Chang gives us the tools we need to understand our increasingly global and interconnected world often driven by economics. From the future of the Euro, inequality in China, or the condition of the American manufacturing industry here in the United States--Economics: The User’s Guide is a concise and expertly crafted guide to economic fundamentals that offers a clear and accurate picture of the global economy and how and why it affects our daily lives.

21st Century Economics: A Reference Handbook

Author : Rhona C. Free
Publisher : SAGE
ISBN 13 : 1412961424
Total Pages : 1038 pages
Book Rating : 4.4/5 (129 download)

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Book Synopsis 21st Century Economics: A Reference Handbook by : Rhona C. Free

Download or read book 21st Century Economics: A Reference Handbook written by Rhona C. Free and published by SAGE. This book was released on 2010-05-14 with total page 1038 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Americans are debating the proper role of the government in company bailouts, the effectiveness of tax cuts versus increased government spending to stimulate the economy, and potential effects of deflation. Economists have dealt with such questions for generations, but they have taken on new meaning and significance. Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is intended to meet the needs of several types of readers. Undergraduate students preparing for exams will find summaries of theory and models in key areas of micro and macroeconomics. Readers interested in learning about economic analysis of an issue as well students embarking on research projects will find introductions to relevant theory and empirical evidence. And economists seeking to learn about extensions of analysis into new areas or about new approaches will benefit from chapters that introduce cutting-edge topics. To make the book accessible to undergraduate students, models have been presented only in graphical format (minimal calculus) and empirical evidence has been summarized in ways that do not require much background in statistics or econometrics. It is thereby hoped that chapters will provide both crucial information and inspiration in a non-threatening, highly readable format.

Schumpeter's Price Theory

Author : Harry Bloch
Publisher : Routledge
ISBN 13 : 1317531868
Total Pages : 249 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Schumpeter's Price Theory by : Harry Bloch

Download or read book Schumpeter's Price Theory written by Harry Bloch and published by Routledge. This book was released on 2017-08-04 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Alois Schumpeter has long been recognised as one of the great economists of the 20th Century, and his truly revolutionary approach to economic development continues to gain appreciation. This is particularly due to the emphasis he places on innovation and creative destruction as drivers of economic development. Yet, aspects of his theory remain neglected and poorly understood, especially his treatment of prices and price dynamics. This book provides a comprehensive and critical examination of Schumpeter’s price theory as well as providing suggestions for the further development of the theory. While Schumpeter’s theories of economic development, entrepreneurship and the business cycle have received substantial attention in the literature, his price theory has been neglected. Yet, he proposes a price theory that is as radical as his treatment of other topics. The holistic nature of his theory also naturally means that a better understanding of his price theory will provide extra insight into other aspects of his theoretical framework. This volume is of great interest to those who study Schumpeter’s work, as well as those who have an interest in history of economic thought, economic theory and philosophy and political economy.

The Origin of Wealth

Author : Eric D. Beinhocker
Publisher : Harvard Business Press
ISBN 13 : 9781578517770
Total Pages : 556 pages
Book Rating : 4.5/5 (177 download)

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Book Synopsis The Origin of Wealth by : Eric D. Beinhocker

Download or read book The Origin of Wealth written by Eric D. Beinhocker and published by Harvard Business Press. This book was released on 2006 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business.

The Irreconcilable Inconsistencies of Neoclassical Macroeconomics

Author : John Weeks
Publisher :
ISBN 13 : 9780415680226
Total Pages : 0 pages
Book Rating : 4.6/5 (82 download)

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Book Synopsis The Irreconcilable Inconsistencies of Neoclassical Macroeconomics by : John Weeks

Download or read book The Irreconcilable Inconsistencies of Neoclassical Macroeconomics written by John Weeks and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the course of this book it is argued that the loss of what is essentially "macro" in Keynes is the result of a preference for a form of equilibrium analysis that gives unqualified support to the ideology of free markets. In the case of Marx, his theory of exploitation and from this the stress on class struggle, led to an almost complete neglect of his contribution to the analysis of the aggregate demand and supply of commodities. .