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The Heterodox Theory of Social Costs - By K. William Kapp (Paperback)
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The Heterodox Theory of Social Costs - By K. William Kapp (Paperback)
Series: Routledge Advances in Heterodox Economics
Expected to ship within 12 - 17 working days
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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.
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