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Economic Philosophies - Liberalism, Nationalism, Socialism: Do They Still Matter? (Hardcover, 1st ed. 2020)
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Economic Philosophies - Liberalism, Nationalism, Socialism: Do They Still Matter? (Hardcover, 1st ed. 2020)
Series: Palgrave Studies in Classical Liberalism
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The book shows the ideological underpinning of the economist's
work, and the ideological perspectives are those that have largely
prevailed in the last couple of centuries: liberalism, nationalism
and socialism. It is on the ground and strength of these ideologies
that systems of political economy have been built. Roselli explores
the connections between theory and value judgements to identify the
philosophical premises behind the economic reasoning of economists
as diverse as Smith, Ricardo, Marx, Pareto, Keynes, Hayek, among
others. Liberalism originally leaned towards an unhindered
laissez-faire, then towards a wider role of the State in the
economic system, under the influence of socialist ideology, then
again it has relied on an individualistic approach to issues of
wealth production and distribution; more recently the
unrealiability of this approach has been revealed by systemic
crises, suggesting new reflections and uncertainties about the
coherence of economic reasoning with the liberal idea: an
institutional and historical perspective may open new spaces to the
understanding of a liberal and capitalistic economy. The
vicissitudes of economic nationalism, its statist and protectionist
features, its decline and recent resurgence are examined, being
unclear what shape it is currently taking from an economic and
political viewpoint. This is particularly obscure in the case of
that specific form of nationalism called populism. The decline and
fall of Marx's historical materialism cannot hide the inherent
contrast of interest between the two sides of a labour contract.
The lasting legacy of socialism is the enduring and multiform
relevance - from a cowed labour force to environmental issues - of
social themes in modern economies.
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