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A Guide to What's Wrong with Economics : Anthem Frontiers of Global Political Economy - Edward Fullbrook

A Guide to What's Wrong with Economics

Anthem Frontiers of Global Political Economy

By: Edward Fullbrook (Editor)

Paperback

Published: 5th September 2000
Ships: 5 to 9 business days
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$43.88

During a time of accelerating momentum for radical change in the study of economics, A Guide to What’s Wrong with Economics comprehensively re-examines the shortcomings of neoclassical economics and considers a number of alternative formulations. In it, a distinguished list of non-neoclassical economists provide a study of some of the many worldly and logical gaps in neoclassical economics, its hidden ideological agendas, disregard for the environment, habitual misuse of mathematics and statistics, inability to address the major issues of economic globalization, its ethical cynicism concerning poverty, racism and sexism and its misrepresentation of economic history. In clear and engaging prose, A Guide to What’s Wrong with Economics shows how interesting, relevant and exciting economics can be when it is pursued not as a defence of an antiquated and close-minded system of belief, but as a no-holds-barred inquiry looking for real-world truths.

The central message of this thought-provoking collection of 27 essays is that mainstream (neoclassical) economics is in crisis--far off course and needing to be steered in new directions. The would-be helmsmen are mainly left-of-center economists who marginalized and penalized by a profession 'straight-jacketed' by mathematical-deductive modeling centered on 'rational, ' self-interested individualism. The best of the critiques urge economists to stop thinking of individuals in a vacuum, to ponder broader issues of where economies come from, to stretch the discipline's boundaries, to be open to insights from other disciplines, and to face up to ethical concerns. Chapters bemoan the 'nonsensical' foundations of both micro- and macroeconomics, the mainstream's ideological content, its misuse of math and statistics, its mistakes in conceptualizing economic progress, and its benign view of globalization. Some chapters (e.g., Charles Wilber's) are full of sense, but others seem to this reviewer uniformed, overly certain, excessively cursory, and even mean-spirited. None of the authors appears to have encountered the profession's high-quality, National Bureau of Economic Research-style empirical work. Sadly, the volume succeeds more at poking the profession in the eye than in helping it see straight. Summing Up: Recommended. Lower-division undergraduate through professional collections."--R. M. Whaples, Wake Forest University in CHOICE

Introduction : broadband versus narrowband economicsp. 1
The quarrlesome boundaries of economicsp. 9
Modern economics : the problem and a solutionp. 21
The pitfalls of mainstream economic reasoning (and teaching)p. 33
Neoclassical economic theory : a special and not a general casep. 41
Where do economics come from? : the missing storyp. 47
Can economics start from the individual alone?p. 57
Are you rational?p. 71
Five pieces of advice for students studying microeconomicsp. 84
How mainstream economists model choice, versus how we behave, and why it mattersp. 95
Managerial economics : economics of management or economics for managers?p. 106
Why do we have separate courses in 'micro' and 'macro' economics?p. 115
The 'natural' rate of unemploymentp. 126
How to look at economics critically : some suggestionsp. 133
Teaching economics as if ethics matteredp. 147
Economics as ideology and the need for pluralismp. 158
The 'efficiency' illusionp. 169
'There are none so blind ...'p. 176
Can mathematics be used successfully in economics?p. 187
Can we expect anything from game theory?p. 198
Improbable, incorrect or impossible : the persuasive but flawed mathematics of microeconomicsp. 209
The significance of the economics research paperp. 223
Changing visions of humans' place in the world and the need for an ecological economicsp. 237
Ecological economics : the concept of scale and its relation to allocation, distribution, and uneconomic growthp. 247
What's wrong with GDP and growth? : the need for alternative indicatorsp. 262
What is wrong with the 'official history of capitalism'? : with special reference to the debates on globalisation and economic developmentp. 279
Should the study of transnational companies be part of the economics syllabus?p. 289
Would a Latin American economics make sense?p. 299
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9781843311485
ISBN-10: 1843311488
Series: Anthem Frontiers of Global Political Economy
Audience: General
Format: Paperback
Language: English
Number Of Pages: 323
Published: 5th September 2000
Publisher: ANTHONY MOTT
Country of Publication: GB
Dimensions (cm): 23.4 x 15.5  x 1.91
Weight (kg): 0.45