Economist Heilbroner (The Nature and Logic of Capitalism, 1985;
etc.) is given to elegant inquiries whose findings strike lay
observers as painfully obvious or merely common-sensical. This time
around, he explores the domain of economics, eventually reaching
the conclusion that it is most gainfully considered "as the means
by which we strive to make a workable science of morality." With
Heilbroner, though, getting there is more than half the fun - and
profit. In reviewing and rejecting all-purpose theories from some
of the dismal science's noted practitioners - e.g., Horvat, Keynes,
Marx, Mill, Ricardo - he makes a wealth of thought-provoking
points. To illustrate, the author generally agrees with Schumpeter
that without vision there can be no analysis. On the other hand, he
warns that most economists are closet ideologues who tend lo render
value judgments because they do not start their investigations from
wholly disinterested positions. In Heilbroner's book, economics "is
the process by which society marshalls and coordinates the
activities required for its provisioning." From this deceptively
simple postulate, he roves about, challenging conventional wisdom
on capitalism, exchange rates, labor, markets, profit, and allied
institutions. Along similar lines, the author charges his lodge
brothers (past and present) with holding myopic views that fail to
put economic systems into either historical or behavioral
perspective. As one unfortunate consequence, they are apt to
overlook the possibilities as well as limitations of their
order-bestowing regimes. Heilbroner's acute critique raises at
least as many questions as it answers about the role economics can
play in any industrialized nation. His accessible text in
nonetheless a welcome addition to the literature, since it directly
addresses key issues like personal liberty and systemic
subordination. (Kirkus Reviews)
What lies behind the veil of economics? Power and ideology, answers
Robert Heilbroner the power of our economic involvement in society
to shape the ways we think about it; the visions and values that
add unsuspected ideological color to our economic beliefs about it.
Most important, Heilbroner shows why economics has become the
reigning form of social inquiry and how we might penetrate its
mystique."
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