This book deals with the current crises from a somewhat different
the usual perspectives. It claims that causes and policy
implications of these crises cannot be properly assessed by
focusing on allocative efficiency or income growth alone; it
requires a more general approach, based on social costs. It does
not deal with social costs according to the Pigouvian or the
Coasian traditions. It draws on the work of Original Institutional
Economics (OIE) such as Thorstein Veblen, Karl William Kapp, and
Karl Polanyi, on Post-Keynesians such as Hyman Minsky and, in
general, on authors who have provided insights beyond the
conventional wisdom of economic thought.
General
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