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A New Principles of Economics - The Science of Markets (Hardcover)
Loot Price: R4,071
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A New Principles of Economics - The Science of Markets (Hardcover)
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Despite the dynamic development of the discipline of economics, the
ways in which economics is taught and how it defines its basic
principles have hardly changed, resulting in economics being
criticised for its inability to provide relevant insights on global
challenges. In response, this book defines new principles of
economics and seeks to establish economics as the science of
markets. A New Principles of Economics provides an alternative
conceptual framework for the study of economics, integrating recent
developments and research in both economics and neighbouring social
sciences. Adopting the structure of a standard principles text, it
separates the study of markets as mechanisms and markets in their
wider contexts. In doing so, a number of new perspectives are
introduced, including approaching the economy as part and parcel of
the Earth system; directly connecting the analysis of production
with an analysis of technology and thermodynamic principles;
explicitly treating markets as forms of social networks mediated by
the institution of money; and reinstating the central role of
distribution in political economy analysis. Drawing on the latest
theories and research on the economy, and including both the
natural and social sciences, this text provides a holistic
introduction suitable for postgraduates and other advanced
students.
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