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Normative Economics In The History Of Economic Thought
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Book Synopsis Intellectual History of Economic Normativities by : Mikkel Thorup
Download or read book Intellectual History of Economic Normativities written by Mikkel Thorup and published by Springer. This book was released on 2016-06-20 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book investigates the many ways that economic and moral reasoning interact, overlap and conflict both historically and at present. The book explores economic and moral thinking as a historically contingent pair using the concept of economic normativities. The contributors use case studies including economic practices, such as trade and finance and tax and famine reforms in the British colonies to explore the intellectual history of how economic and moral issues interrelate.
Book Synopsis Words, Objects and Events in Economics by : Peter Róna
Download or read book Words, Objects and Events in Economics written by Peter Róna and published by Springer Nature. This book was released on 2020-09-03 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.
Book Synopsis Where Economics Went Wrong by : David Colander
Download or read book Where Economics Went Wrong written by David Colander and published by Princeton University Press. This book was released on 2018-11-27 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago—one of the last bastions of classical liberal economics—as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong. Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists.
Book Synopsis A History of Ecological Economic Thought by : Marco P. Vianna Franco
Download or read book A History of Ecological Economic Thought written by Marco P. Vianna Franco and published by Taylor & Francis. This book was released on 2022-08-01 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributing to a better understanding of contemporary issues of environmental sustainability from a historical perspective, this book provides a cohesive and cogent account of the history of ecological economic thought. The work unearths a diverse set of ideas within a Western and Slavic context, from the Renaissance and the Enlightenment to the late 1940s, to reveal insights firmly grounded in historiographical research and of import for addressing current sustainability challenges, not least by means of improving our grasp on how humans and nature can generously coexist in the long term. The history of ecological economic thought offered in this volume is rich and diverse, encompassing views that are bound by the observance of the tenets of the natural sciences, but which differ significantly in terms of the role of energy and materials to cultural development and the normative aspects involving resource distribution, social ideals, and policy-making. Combining the approaches of independent scholarly figures and scientific communities from different historical periods and nationalities, the book brings elements that are still missing in the scarce literature on the history of ecological economic thought and highlights the underlying threads which unite such initiatives. The book brings a fresh look into the historical development of ecological economic ideas and will therefore be of great interest to scholars and students of ecological economics, environmental economics, sustainability science, interdisciplinary studies, and history of economic thought.
Book Synopsis Normative Economics in the History of Economic Thought by : Sina Badiei
Download or read book Normative Economics in the History of Economic Thought written by Sina Badiei and published by Taylor & Francis. This book was released on 2024-06-21 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the role of normative economics in the writings of Karl Marx, Ludwig von Mises, Milton Friedman and Karl Popper. The book shows that while distinguishing positive from normative economics can be helpful, this distinction should not minimize the importance of normative economics or reject the possibility of offering objective evaluations of social phenomena and policies in normative economics. The book offers a critical assessment of the attempts by Marx, Mises and Friedman to reduce scientific economics to the positive analysis of social phenomena alone. Through a meticulous analysis of their work, the book shows that their positive theories fail to justify their evaluations of economic phenomena and policies. The book then draws on the writings of Popper to maintain that we should place normative economics at the center of economics. The book argues that normative economics can choose the norms underlying its evaluations of social situations and policies objectively and relies on some of Popper’s ideas to offer some criteria that can facilitate the selection of these norms. The book will be of interest to economists, historians of economic thought, philosophers of economics and political theorists and philosophers.
Book Synopsis An Austrian Perspective on the History of Economic Thought by : Murray Newton Rothbard
Download or read book An Austrian Perspective on the History of Economic Thought written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on with total page 1120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Brief History of Economic Thought by : Alessandro Roncaglia
Download or read book A Brief History of Economic Thought written by Alessandro Roncaglia and published by Cambridge University Press. This book was released on 2017-09-14 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear and concise history of economic thought, developed from the author's award-winning book, The Wealth of Ideas.
Book Synopsis Economics and the Virtues by : Jennifer A. Baker
Download or read book Economics and the Virtues written by Jennifer A. Baker and published by Oxford University Press. This book was released on 2016 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: A volume by leading economists and philosophers that explores the contributions that virtue ethics can make to economics. Provides historical and modern insights in both economics and philosophy and offers suggestions for incorporating the ethics of virtue into economics to make it more applicable to moral dilemmas in the world outside the models.
Book Synopsis Misbehaving: The Making of Behavioral Economics by : Richard H. Thaler
Download or read book Misbehaving: The Making of Behavioral Economics written by Richard H. Thaler and published by W. W. Norton & Company. This book was released on 2015-05-11 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award
Book Synopsis The Lost Art of Economics by : David C. Colander
Download or read book The Lost Art of Economics written by David C. Colander and published by Edward Elgar Publishing. This book was released on 2001 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following up on his 1990 collection of essays Why Aren't Economists as Important as Garbagemen, Colander (Economics, Middlebury College, Vermont) reprints another 12 essays expressing his evolving ideas about the work and profession. They are intended for general academic readers, though he warns that economists will understand some parts than others, and to be fun to read. c. Book News Inc.
Book Synopsis The Ethical Formation of Economists by : Wilfred Dolfsma
Download or read book The Ethical Formation of Economists written by Wilfred Dolfsma and published by Routledge. This book was released on 2019-06-07 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists' role in society has always been an uneasy one, and in recent years the ethicality of the profession and its practitioners has been questioned more than ever. This collection of essays is the first to investigate the multifaceted nature of what forms economists' ethical and economic views. Bringing together work from international contributors, The Ethical Formation of Economists explores the ways in which economists are influenced in their training and career, examining how this can explain their individual ethical stances as economists. The book suggests that if we can better understand what is making economists think and act as they do, considering ethicality in the process, we might all be better placed to implement changes. The intent is not to exonerate economists from personal responsibility, but to highlight how considering the circumstances that have helped shape economists' views can help to address issues. It is argued that it is important to understand these influences, as without such insights, the demonization of economists is too easily adapted as a stance by society as well as too easily dismissed by economists. This book will be of great interest to those studying and researching in the fields of economics, ethics, philosophy and sociology. It also seeks to bring an ethical debate within and about economics and to cause change in the practical reasoning of economists.
Book Synopsis Behavioral Economics by : Philip J. Corr
Download or read book Behavioral Economics written by Philip J. Corr and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is behavioral economics and why is it important? -- The ascent and dissent of economics -- Econ: homo economicus -- Human: more homer (simpson) than homo economicus -- Manners, monkeys and moods -- Nudge: whys, ways and weasels -- Sell! the commercial (and political) world of persuasion
Book Synopsis Economic Point of View by : Israel M. Kirzner
Download or read book Economic Point of View written by Israel M. Kirzner and published by Ludwig von Mises Institute. This book was released on 1960 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A History of Economic Thought by : William J. Barber
Download or read book A History of Economic Thought written by William J. Barber and published by Wesleyan University Press. This book was released on 2010-06-01 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of the grand ideas in economics has a perpetual intellectual fascination in it’s own right. It can also have practical relevance, as the global economic downturn that began in 2007 reminds us. For several decades, the economics establishment had been dismissive of Keynesianism, arguing that the world had moved beyond the “depression economics” with which it dealt. Keynesian economics, however, has now staged a comeback as governments attempt to formulate policy responses to the Great Recession of the first decade of the twenty-first century. Many of the issues that faced economists in the past are still with us. The theories and methods of such men as Adam Smith, T. R. Malthus, David Ricardo, J.S. Mill, Karl Marx, Alfred Marshall, and J. M. Keynes are often relevant to us today—and we can always learn from their mistakes. In his stimulating analysis Professor Barber assesses the thought of a number of important economists both in terms of the issues of their day and in relation to modern economic thought. By concentrating on the greatest exponents he highlights the central properties of the four main schools of economic thought – classical, Marxian, neo-classical, and Keynesian – and shows that although each of these traditions is rooted in a different stage of economic development, they can all provide insights into the recurring problems of modern economics.
Book Synopsis Economics of Good and Evil by : Tomas Sedlacek
Download or read book Economics of Good and Evil written by Tomas Sedlacek and published by Oxford University Press. This book was released on 2011-07-01 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved bestseller status. How has he done it? By arguing a simple, almost heretical proposition: economics is ultimately about good and evil. In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of our civilization. It began within philosophy--Adam Smith himself not only wrote The Wealth of Nations, but also The Theory of Moral Sentiments--and economics, as Sedlacek shows, is woven out of history, myth, religion, and ethics. "Even the most sophisticated mathematical model," Sedlacek writes, "is, de facto, a story, a parable, our effort to (rationally) grasp the world around us." Economics not only describes the world, but establishes normative standards, identifying ideal conditions. Science, he claims, is a system of beliefs to which we are committed. To grasp the beliefs underlying economics, he breaks out of the field's confines with a tour de force exploration of economic thinking, broadly defined, over the millennia. He ranges from the epic of Gilgamesh and the Old Testament to the emergence of Christianity, from Descartes and Adam Smith to the consumerism in Fight Club. Throughout, he asks searching meta-economic questions: What is the meaning and the point of economics? Can we do ethically all that we can do technically? Does it pay to be good? Placing the wisdom of philosophers and poets over strict mathematical models of human behavior, Sedlacek's groundbreaking work promises to change the way we calculate economic value.
Book Synopsis The Illusion of Well-Being by : Mark D. White
Download or read book The Illusion of Well-Being written by Mark D. White and published by Springer. This book was released on 2014-09-04 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of measures of economic output to guide policymaking has been criticized for decades because of their weak ties to human well-being. Recently, many scholars and politicians have called for measures of happiness or subjective well-being to be used to guide policy in people's true interests. In The Illusion of Well-Being, Mark D. White explains why using happiness as a tool for policymaking is misguided and unethical. Happiness is too vague a term to define, and too general a concept, to measure in a way that captures people's true feelings. He extends this critique to well-being in general and concludes that no measure of well-being can do justice to people's true interests, which are complex, multifaceted, and subjective. White suggests instead that policymaking be conducted according to respect and responsiveness, promoting the true interests of citizens while addressing their real needs, and devoting government resources to where they can do the most good.
Book Synopsis Institutions in Economics by : Malcolm Rutherford
Download or read book Institutions in Economics written by Malcolm Rutherford and published by Cambridge University Press. This book was released on 1996-07-13 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines and compares the 'old' institutionalism of Veblen, Mitchell, Commons, and Ayres, with the 'new' institutionalism developed from neoclassical and Austrian sources.
