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Author: Johan Christensen
Publisher: Stanford University Press
ISBN: 1503601854
Category : Social Science
Languages : en
Pages : 290
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Book Description
The spread of market-oriented reforms has been one of the major political and economic trends of the late twentieth and early twenty-first centuries. Governments have, to varying degrees, adopted policies that have led to deregulation: the liberalization of trade; the privatization of state entities; and low-rate, broad-base taxes. Yet some countries embraced these policies more than others. Johan Christensen examines one major contributor to this disparity: the entrenchment of U.S.-trained, neoclassical economists in political institutions the world over. While previous studies have highlighted the role of political parties and production regimes, Christensen uses comparative case studies of New Zealand, Ireland, Norway, and Denmark to show how the influence of economists affected the extent to which each nation adopted market-oriented tax policies. He finds that, in countries where economic experts held powerful positions, neoclassical economics broke through with greater force. Drawing on revealing interviews with 80 policy elites, he examines the specific ways in which economists shaped reforms, relying on an activist approach to policymaking and the perceived utility of their science to drive change.
Author: Johan Christensen
Publisher: Stanford University Press
ISBN: 1503601854
Category : Social Science
Languages : en
Pages : 290
Get Book Here
Book Description
The spread of market-oriented reforms has been one of the major political and economic trends of the late twentieth and early twenty-first centuries. Governments have, to varying degrees, adopted policies that have led to deregulation: the liberalization of trade; the privatization of state entities; and low-rate, broad-base taxes. Yet some countries embraced these policies more than others. Johan Christensen examines one major contributor to this disparity: the entrenchment of U.S.-trained, neoclassical economists in political institutions the world over. While previous studies have highlighted the role of political parties and production regimes, Christensen uses comparative case studies of New Zealand, Ireland, Norway, and Denmark to show how the influence of economists affected the extent to which each nation adopted market-oriented tax policies. He finds that, in countries where economic experts held powerful positions, neoclassical economics broke through with greater force. Drawing on revealing interviews with 80 policy elites, he examines the specific ways in which economists shaped reforms, relying on an activist approach to policymaking and the perceived utility of their science to drive change.
Author: Randall Bartlett
Publisher: Cambridge University Press
ISBN: 0521355621
Category : Business & Economics
Languages : en
Pages : 223
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Book Description
When a marketplace is considered in isolation, the implicit conclusion is that markets are a sufficient defence against the exercise of power. But market transactions do not occur in isolation: they are defined by rules, property rights, prior events and social values. This book widens the focus of traditional economic analysis to examine the ways in which people may affect each other within and around markets to give rise to real power. Using conventional neoclassical assumptions about human behaviour, the book begins by developing a workable concept of power, allowing for its presence in a variety of forms and degrees. It examines the conditions under which power would necessarily be absent from market transactions and those under which it would be possible. It considers the decision processes of potential exercisers and subjects of power to determine when the exercise and success of power would be rational.
Author: Richard D. Wolff
Publisher: MIT Press
ISBN: 0262517833
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
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.
Author: Kalle Lasn
Publisher: Seven Stories Press
ISBN: 1609804333
Category : Business & Economics
Languages : en
Pages : 407
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Book Description
From the editor and magazine that started and named the Occupy Wall Street movement, Meme Wars: The Creative Destruction of Neoclassical Economics is an articulation of what could be the next steps in rethinking and remaking our world that challenges and debunks many of the assumptions of neoclassical economics and brings to light a more ecological model. Meme Wars aims to accelerate the shift into this new paradigm that takes into account psychonomics, bionomics, and other aspects of our physical and mental environment that are often left out in discussions of economics. Like Adbusters, the book will be image heavy and full-color throughout. Lasn calls it "a textbook for the future" that provides the building blocks, in texts and visuals, for a new way of looking at and changing our world. Through an examination of alternative economies, Lasn hopes to spur students to become "barefoot economists" and to see that a humanization of economics is possible. Meme Wars will include contributions from Nobel Prize winner Joseph Stiglitz, Paul Samuelson, George Akerlof, Lourdes Benería, Julie Matthaei, Manfred Max-Neef, David Orrell, Paul Gilding, Mathis Wackernagel and the father of ecological economics Herman Daly, among others. Based on ideas that were presented in a special issue of Adbusters entitled "Thought Control in Economics: Beyond the Growth Paradigm / An Activist Toolkit," Meme Wars will help move forward the Occupy Wall Street movement.
Author: Jens Maesse
Publisher: Routledge
ISBN: 1000222233
Category : Business & Economics
Languages : en
Pages : 286
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Book Description
Economists occupy leading positions in many different sectors including central and private banks, multinational corporations, the state and the media, as well as serving as policy consultants on everything from health to the environment and security. Power and Influence of Economists explores the interconnected relationship between power, knowledge and influence which has led economics to be both a source and beneficiary of widespread power and influence. The contributors to this book explore the complex and diverse methods and channels that economists have used to exert and expand their influence from different disciplinary and national perspectives. Four different analytical views on the role of power and economics are taken: first, the role of economic expert discourses as power devices for the formation of influential expertise; second, the logics and modalities of governmentality that produce power/knowledge apparatuses between science and society; third, economists as involved in networks between academia, politics and the media; and forth, economics considered as a social field, including questions of legitimacy and unequal relations between economists based on the detention of various capitals. The volume includes case studies on a variety of national configurations of economics, such as the US, Germany, Italy, Switzerland, Greece, Mexico and Brazil, as well as international spaces and organisations such as the IMF. This book provides innovative research perspectives for students and scholars of heterodox economics, cultural political economy, sociology of professions, network studies, and the social studies of power, discourse and knowledge. “The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9780367817084, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.”
Author: James A. Caporaso
Publisher: Cambridge University Press
ISBN: 9780521425780
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
This exploration of some of the more important frameworks used for understanding the relationship between politics and economics includes the classical, Marxian, Keynesian, neoclassical, state-centered, power-centered, and justice-centered.
Author: Jonathan Nitzan
Publisher: Routledge
ISBN: 1134022298
Category : Political Science
Languages : en
Pages : 853
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Book Description
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’.
Author: James Ronald Stanfield
Publisher: Springer
ISBN: 1349237124
Category : Business & Economics
Languages : en
Pages : 251
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Book Description
This book depicts the need for an economics that addresses social provisioning in the context of power and culture. Such an approach is necessary to the development of an analysis that treats human wants and technology as endogenous variables, thereby avoiding the atavism inherent in conventional economics epistemology. Only in this way can the requisite re-viewing of the place of economy in society be brought to bear in an economic analysis capable of addressing the seemingly intractable problems of the democratic capitalist societies.
Author: Stephen A. Ross
Publisher: Princeton University Press
ISBN: 1400830206
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail. By stark contrast, the currently popular stance offered by behavioral finance, fueled by a number of apparent anomalies in the financial markets, regards market prices as subject to the psychological whims of investors. But without any appeal to psychology, Ross shows that neoclassical theory provides a simple and rich explanation that resolves many of the anomalies on which behavioral finance has been fixated. Based on the inaugural Princeton Lectures in Finance, sponsored by the Bendheim Center for Finance of Princeton University, this elegant book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners.
Author: Steve Keen
Publisher: John Wiley & Sons
ISBN: 1509545301
Category : Political Science
Languages : en
Pages : 141
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Book Description
In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes.
