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Books > Business & Economics > Economics > Econometrics
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Virtualism - A New Political Economy (Hardcover)
Loot Price: R4,556
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Virtualism - A New Political Economy (Hardcover)
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We live in a time of economic virtualism, whereby our lives are
made to conform to the virtual reality of economic thought.
Globalization, transnational capitalism, structural adjustment
programmes and the decay of welfare are all signs of the growing
power of economics, one of the most potent forces of recent
decades. In the last thirty years, economics has ceased to be just
an academic discipline concerned with the study of economy, and has
come to be the only legitimate way to think about all aspects of
society and how we order our lives. Economic models are no longer
measured against the world they seek to describe, but instead the
world is measured against them, found wanting and made to conform.
This profound and dangerous change in the power of abstract
economics to shape the lives of people in rich and poor countries
alike is the subject of this interdisciplinary study. Contributors
show how economics has come to portray a virtual reality -- a world
that seems real but is merely a reflection of a neo-classical model
-- and how governments, the World Bank and the IMF combine to stamp
the world with a virtual image that condemns as irrational our
local social and cultural arrangements. Further, it is argued that
virtualism represents the worrying emergence of new forms of
abstraction in the political economy, of which economics is just
one example.
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