The goal of "Inclusive Economics" is to tie together various
authoritative strands of contemporary economic theory into an
easily comprehensible whole that illuminates the need for a broader
approach to contemporary economic policymaking undistorted by
obsolete 18th century rationalist assumptions about utility,
ethics, worthiness and traditional culture. This is accomplished by
elaborating the rationalist competitive ideal along the optimizing
lines pioneered by Paul Samuelson (neoclassical economics);
plumbing modifications necessitated by Herbert Simon's realist
concepts of "bounded rationality" and "satisficing"; refined
further by applying a pragmatist outlook to probe the consequences
of relaxing Enlightenment teleological, ethical, spiritual and
cultural taboos. The exercise will explain why competitive market
economies guided by rational utility-seeking invariably are less
productive, efficient, just and beneficent than most theorists
concede, and will illuminate the full range of interventions needed
to achieve better outcomes. We call this program in its entirety
"Inclusive Economics", including the integration of micro and
macroeconomics.
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