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Economic Policies of the New Thinking in Economics (Hardcover, New)
Loot Price: R2,531
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Economic Policies of the New Thinking in Economics (Hardcover, New)
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The financial crisis and the 'great recession' have generated the
need for new thinking in economics and for new economic policies to
secure sustainable and equitable economic development. The new
thinking in economics is an interdisciplinary approach to economic
problems that acknowledges and respects insights and analyses from
other disciplines, and recognizes complexity and evolutionary
theory as relevant for understanding economic systems and economic
behaviour. New Economics is concerned with institutional behaviour,
expectations and uncertainty as opposed to traditional economics
with its emphasis on equilibrium, mathematical formalism and
deterministic solutions. With the financial crisis brought on by
the unrestrained pursuit of personal and corporate profit,
sanctioned by traditional economics, this is an opportune moment to
establish a new way of approaching economic understanding based on
new economic theory. It is also a good time to instigate new ideas
on the approach to economic policy across a wide range of areas,
such as macroeconomic and global governance, employment and
unemployment, social security and pensions. This book is devoted to
developing economic policies from the new thinking. It was
originally published as a special issue of the International Review
of Applied Economics.
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