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Author: K. William Kapp
Publisher: Routledge
ISBN: 1317682378
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
K. William Kapp’s heterodox theory of social costs proposes precautionary planning to pre-empt social costs and provide social benefits via socio-ecological safety standards that guarantee the gratification of basic human needs. Based on arguments from Thorstein Veblen, Karl Marx, and Max Weber, social costs are conceptualized as systemic and large-scale damages caused by markets. Kapp refutes neoclassical solutions, such as bargaining, taxation, and tort law, unmasking them as ineffective, inefficient, inconsistent, and too market-obedient. The chapters of this book present the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technological standards. This book demonstrates the fruitfulness of the heterodox theory of social costs as a coherent framework to develop effective remedies for today’s urgent socio-ecological crises. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.
Author: K. William Kapp
Publisher: Routledge
ISBN: 1317682378
Category : Business & Economics
Languages : en
Pages : 181
Get Book Here
Book Description
K. William Kapp’s heterodox theory of social costs proposes precautionary planning to pre-empt social costs and provide social benefits via socio-ecological safety standards that guarantee the gratification of basic human needs. Based on arguments from Thorstein Veblen, Karl Marx, and Max Weber, social costs are conceptualized as systemic and large-scale damages caused by markets. Kapp refutes neoclassical solutions, such as bargaining, taxation, and tort law, unmasking them as ineffective, inefficient, inconsistent, and too market-obedient. The chapters of this book present the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technological standards. This book demonstrates the fruitfulness of the heterodox theory of social costs as a coherent framework to develop effective remedies for today’s urgent socio-ecological crises. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.
Author: Karl William Kapp
Publisher:
ISBN: 9781315773759
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
In K. William Kapp's most important work, Social Costs and Social Benefits, he argued that social controls are necessary to both reduce the social costs and increase the social benefits of the economy - aspects which are neglected under a system of free enterprise. Merging arguments from Thorstein Veblen, Karl Marx and Max Weber, Kapp develops a genuinely heterodox theory that analyzes social costs as large-scale damages that are caused by markets and require systemic solutions. The core of this book are the chapters on the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technology. These chapters convincingly argue for socio-ecological safety standards that yield social benefits and sustainable development. In this, Kapp refutes conventional solutions, such as bargaining, taxation, and tort law as ineffective, inefficient, inconsistent, and too market-obedient. This book demonstrates the fruitfulness of the heterodox theory on social costs. The latter is a coherent alternative to neoclassical economics and an effective remedy for urgent socio-economic and ecological problems. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.
Author: Arturo Hermann
Publisher: Routledge
ISBN: 1000199495
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory. The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment, and the regularity of economic/financial crises. The authors examine potential policy responses such as modern monetary theory, models of public ownership, and the need to move beyond standard concepts of growth. They also explore the deficiencies of orthodox economics, and contend that a more pluralist approach to economics is required in the public sphere, in academia, and in the classroom in order to help face the challenges of the twenty-first century. This book is invaluable reading for students and scholars across the social sciences who are interested in alternatives to mainstream economic thinking.
Author: Karl William Kapp
Publisher:
ISBN:
Category : Externalities (Economics)
Languages : en
Pages : 392
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Book Description
Author: Frederic S. Lee
Publisher: Routledge
ISBN: 1351265261
Category : Business & Economics
Languages : en
Pages : 442
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Book Description
Microeconomic Theory: A Heterodox Approach develops a heterodox economic theory that explains the economy as the social provisioning process at the micro level. Heterodox microeconomics explores the economy with a focus on its constituent parts and their reproduction and recurrence, their integration qua interdependency by non-market and market arrangements and institutions, and how the system works as a whole. This book deals with three theoretical concerns. Due to the significance of the price mechanism to mainstream economics, a theoretical concern of the book is the business enterprise, markets, demand, and pricing. Also, since heterodox economists see private investment, consumption and government expenditures as the principal directors and drivers of economic activity, a second theoretical concern is business decision-making processes regarding investment and production, government expenditure decisions, the financing of investment, the profit mark-up and the wage rate, and taxes. Finally, the third theoretical concern of the book is the delineation of a non-equilibrium disaggregated price-output model of the social provisioning process. This book explores the integration of these various theories with a theoretical model of the economy and how this forms a theory that can be identified as heterodox microeconomics. It will be of interest to both postgraduates and researchers.
Author: Sebastian Berger
Publisher:
ISBN: 9780851248646
Category : Neoliberalism
Languages : en
Pages : 254
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Book Description
K. William Kapp was an environmental pioneer. Decades ago, he challenged economic theories that disregarded the waste and environmental damage caused by production, recognising that environmental pollution threatens sustainable development. The Social Costs of Neoliberalism addresses rising levels of social demage in an era of climate change. It does so by reconstructing Kapp's theory of social costs that explains why corporations have a built-in tendency to increase profits by socializing costs, that is, by shifting costs on to society. His focus is on the tremendous scope and irreversibility of this damage, pointing to its systematic character. Kapp convincingly counters neoliberal and neoclassical arguments on externalities and market failure, that do not fully account for fatal flaws in the market's calculus. His proposed alterntive is a robust framework of social-democratic controls of the economy to prevent effectively such social costs and the damage they cause to our environment. --
Author: Karl William Kapp
Publisher: Routledge
ISBN: 0415586550
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
K. William Kapp was one of the leading 20 th century institutionalists and a founding member of the Association for Evolutionary Economics. This book was developed by Kapp and is his attempt to present the foundations of institutional economics though has remained unfinished and unpublished during the last 30 years since his death. Carefully edited with additional material from some of Kapp' s other major works and with a full introduction from Sebasitan Berger and Rolf Steppacher, this book represents a major reappraisal of Kapp' s contribution ...
Author: John Pullen
Publisher: Routledge
ISBN: 1134010893
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
John Pullen presents a critical history of the concept of the Marginal Profit Theory of Distribution looking at the contributions of its proponents (eg Stigler) and its critics (eg Pareto) and stressing the continuity of the debate.
Author: Andrew Mearman
Publisher: Routledge
ISBN: 1351744003
Category : Business & Economics
Languages : en
Pages : 616
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Book Description
Since the Global Financial Crisis, economics has been under greater public scrutiny, revealing a crisis in the discipline. This represented a potential turning point on how economics should be thought and taught. Heterodox economics has played a prominent role in these discussions revolving around new economics thinking and pluralism in economics. Yet, its identity, aspirations, and pedagogy remain underexplored, contested, and somewhat opaque. This volume brings together sixteen interviews with leading economists to understand what heterodox economics is. How and why does an economist become heterodox? In which way do heterodox economists see themselves as ‘different’ from mainstream economics? The interviews shed light on what problems heterodox economists perceive in the mainstream; elucidate the different contexts under which they operate in higher education; and provide insights on their ontology and methodology. The reader will also find answers to the following questions about the nature and state of heterodox economics: Do heterodox economists have particular intellectual journeys, motives and aspirations? Is this reflected in their teaching practices and strategies to achieve social change? What is the relation between heterodox economics and the humanities and arts? Appealing to a diverse audience, including philosophers, sociologists and historians of economic thought, the book will be of great interest to anyone keen to find out more about the internal discussions in the economics discipline.
Author: William A. Jackson
Publisher: Edward Elgar Publishing
ISBN: 1849802114
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
. . . the book is excellent in setting out and explaining a fundamental critique of economics one moreover that has been missed by most other current critics of the field. Making this case is an achievement. Hopefully, it will have a greater impact than its author probably expects. Journal of Cultural Economics Economics evolved by perfecting the taking of culture out of its reductionist and virtual world. But culture has recently been reintroduced, both as a sphere of application for an otherwise unchanging methodology and as a weak form of acknowledging that the economic alone is inadequate as the basis even for explaining the economy. This volume is an essential critical starting point for understanding the changing relationship between economics and culture and in offering a more satisfactory and stable union between the two. Ben Fine, University of London, UK Economics, Culture and Social Theory examines how culture has been neglected in economic theorising and considers how economics could benefit by incorporating ideas from social and cultural theory. Orthodox economics has prompted a long line of cultural criticism that goes back to the origins of economic theory and extends to recent debates surrounding postmodernism. William A. Jackson discusses the cultural critique of economics, identifies the main arguments, and assesses their implications. Among the topics covered are relativism and realism, idealism and materialism, agency and structure, hermeneutics, semiotics, and cultural evolution. Drawing from varied literatures, notably social and cultural theory, the book stresses the importance of culture for economic behaviour and looks at the prospects for a renewed and culturally informed economics. The book will be invaluable to heterodox economists and to anyone interested in the links between culture and the economy. It takes an interdisciplinary approach, arguing against the isolation of economics, and will therefore hold wide appeal for social scientists working in related fields, as well as for economists specialising in cultural economics and economic methodology.
