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Books > History > History of specific subjects > Economic history
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Principles of Economics for a Post-Meltdown World (Paperback, 1st ed. 2016)
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Principles of Economics for a Post-Meltdown World (Paperback, 1st ed. 2016)
Series: SpringerBriefs in Economics
Expected to ship within 10 - 15 working days
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This brief emphasizes the ways in which introductory economics
textbooks incorrectly rely on assumptions about the free market,
the rational agent model, market fundamentalism, and standard
long-standing assumptions in economics, and in doing so disregard
the effects of incomplete and asymmetric information on choice and
on allocation, and maintain a general but flawed belief that
competitive markets can always provide efficient solutions
automatically. In other words, the standard economics principles
textbook is anachronistic, they assume that tastes are exogenous,
they overlook interdependencies and externalities not only in
production but in consumption of goods, and they overlook the fact
that path-dependence is a major hindrance to optimization.
Mainstream principles of economics textbooks distort our worldview
with immense political and cultural consequences. Students of these
principles deserve a more complete perspective, and this brief
critiques that conventional worldview and provides an alternative
perspective, with an emphasis on free-market economics wherein the
human element should be paramount and moral judgments should
override market outcomes. In other words, what is important is not
GNP as much as the quality of life, not institutions but how people
live and fare in them. This brief argues that economics cannot be a
science; it has too many ideological aspects, and in many ways
conventional textbooks are not providing a true-to-life depiction
of the economy. This Brief will be a reference or supplemental text
for college and university students enrolled in such applied
undergraduate and graduate courses and seminars in economics and
economic theory.
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