The Crisis Of Vision In Modern Economic Thought
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Author | : Robert L. Heilbroner |
Publisher | : Cambridge University Press |
Total Pages | : 148 |
Release | : 1996-01-26 |
Genre | : Political Science |
ISBN | : 9780521497145 |
A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a "vision"--a set of widely shared political and social preconceptions--on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 through the early 1970s, comparable to earlier visions provided by Smith, Ricardo, Mill, and Marshall. The "unraveling" of Keynesianism has been followed by a division into discordant and ineffective camps whose common denominator seems to be their shared analytical refinement and lack of practical applicability. This provocative analysis attempts both to describe this state of affairs, and to suggest the direction in which economic thinking must move if it is to regain the relevance and remedial power it now pointedly lacks.
Author | : Robert Louis Heilbroner |
Publisher | : |
Total Pages | : 125 |
Release | : 1995 |
Genre | : Economics |
ISBN | : |
Author | : Robert Louis Heilbroner |
Publisher | : |
Total Pages | : 0 |
Release | : 1996 |
Genre | : Economics |
ISBN | : |
Author | : William Milberg |
Publisher | : Cambridge University Press |
Total Pages | : 377 |
Release | : 2013-04-29 |
Genre | : Business & Economics |
ISBN | : 1107355222 |
Outsourcing Economics has a double meaning. First, it is a book about the economics of outsourcing. Second, it examines the way that economists have understood globalization as a pure market phenomenon, and as a result have 'outsourced' the explanation of world economic forces to other disciplines. Markets are embedded in a set of institutions - labor, government, corporate, civil society, and household - that mold the power asymmetries that influence the distribution of the gains from globalization. In this book, William Milberg and Deborah Winkler propose an institutional theory of trade and development starting with the growth of global value chains - international networks of production that have restructured the global economy and its governance over the past twenty-five years. They find that offshoring leads to greater economic insecurity in industrialized countries that lack institutions supporting workers. They also find that offshoring allows firms to reduce domestic investment and focus on finance and short-run stock movements.
Author | : Robert Chernomas |
Publisher | : University of Toronto Press |
Total Pages | : 210 |
Release | : 2016-06-16 |
Genre | : Business & Economics |
ISBN | : 1442620188 |
Economics has always been nicknamed the “dismal science,” but today the field seems a little more dismal than usual as governments, social movements, and even students complain that the discipline is failing to make sense of the major economic problems of the day. In Economics in the Twenty-First Century, Robert Chernomas and Ian Hudson demonstrate how today’s top young economists continue to lead the field in the wrong direction. The recent winners of the John Bates Clark medal, economics’s “baby Nobel,” have won that award for studying important issues such as economic development, income inequality, crime, and health. Examining their research, Chernomas and Hudson show that this work focuses on individual choice, ignores the systematic role of power in the economic system, and leads to solutions that are of limited effectiveness at best and harmful at worst. An accessible summary of the latest debates in economics, Economics in the Twenty-First Century takes on what is missing from mainstream economics, why it matters, and how the discipline can better address the key concerns of our era.
Author | : Stephanie Kelton |
Publisher | : PublicAffairs |
Total Pages | : 311 |
Release | : 2020-06-09 |
Genre | : Business & Economics |
ISBN | : 1541736206 |
A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Author | : Andriana Vlachou |
Publisher | : Springer |
Total Pages | : 288 |
Release | : 2016-07-27 |
Genre | : Business & Economics |
ISBN | : 1349277142 |
Leading international scholars challenge neoliberalism on its assumptions, way of reasoning and empirical evidence. In particular, they discuss critically, from the standpoint of radical perspectives, the issues of limiting the state and privatization, inflation and unemployment, and the possibility of a socialist society. They also discuss the current project for the monetary and economic union (EMU) of Europe, considered as an application of neoliberalism. They assess and question the internal market, the common currency and central bank independence; and investigate alternatives to the EMU project and the marketization agenda.
Author | : Steven Kates |
Publisher | : Edward Elgar Publishing |
Total Pages | : 264 |
Release | : 2020-06-26 |
Genre | : Business & Economics |
ISBN | : 1786433575 |
Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.
Author | : Mariana Mazzucato |
Publisher | : HarperCollins |
Total Pages | : 272 |
Release | : 2021-03-23 |
Genre | : Business & Economics |
ISBN | : 0063046261 |
Longlisted for the 2021 Porchlight Business Book Awards, Big Ideas & New Perspectives “She offers something both broad and scarce: a compelling new story about how to create a desirable future.”—New York Times An award-winning author and leading international economist delivers a hard-hitting and much needed critique of modern capitalism in which she argues that, to solve the massive crises facing us, we must be innovative—we must use collaborative, mission-oriented thinking while also bringing a stakeholder view of public private partnerships which means not only taking risks together but also sharing the rewards. Capitalism is in crisis. The rich have gotten richer—the 1 percent, those with more than $1 million, own 44 percent of the world's wealth—while climate change is transforming—and in some cases wiping out—life on the planet. We are plagued by crises threatening our lives, and this situation is unsustainable. But how do we fix these problems decades in the making? Mission Economy looks at the grand challenges facing us in a radically new way. Global warming, pollution, dementia, obesity, gun violence, mobility—these environmental, health, and social dilemmas are huge, complex, and have no simple solutions. Mariana Mazzucato argues we need to think bigger and mobilize our resources in a way that is as bold as inspirational as the moon landing—this time to the most ‘wicked’ social problems of our time.. We can only begin to find answers if we fundamentally restructure capitalism to make it inclusive, sustainable, and driven by innovation that tackles concrete problems from the digital divide, to health pandemics, to our polluted cities. That means changing government tools and culture, creating new markers of corporate governance, and ensuring that corporations, society, and the government coalesce to share a common goal. We did it to go to the moon. We can do it again to fix our problems and improve the lives of every one of us. We simply can no longer afford not to.
Author | : Samuel A. Chambers |
Publisher | : punctum books |
Total Pages | : 168 |
Release | : 2018 |
Genre | : Business & Economics |
ISBN | : 1947447890 |
Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in response to major economic crisis is almost always one of moral outrage. How do we reconcile this tension or explain this paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics hypostatizes and continually reifies a domain it calls "the economy"; only this epistemic practice makes it possible to falsely separate the question of value from the broader inquiry into the economic. And only if we have first eliminated value from the domain of economics can we then transform stories of financial crisis or massive corporate corruption into simple tales of ethics. But if economic forces establish, transform, and maintain relations of value then it proves impossible to separate economics from questions of value, because value relations only come to be in the world by way of economic logics. This means that the "positive economics" spoken of so fondly in the textbooks is nothing more than a contradiction in terms, and as this book demonstrates, there's no such thing as "the economy." To grasp the basic logic of capital is to bring into view the unbreakable link between economics and value.