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Population ageing has been the subject of much discussion in recent
years, often expressed in alarmist language that advocates evasive
policy action to avert an imminent demographic crisis. This
forward-looking book evaluates the debates surrounding population
ageing and offers a more optimistic outlook on its effect on the
economy.William Jackson initially considers general theoretical
approaches to population ageing, particularly in relation to the
rising dependency burden. He then goes on to examine traditional
topics such as employment, productivity, pensions and social
security, along with less traditional topics such as informal care,
within the context of long-run structural changes. The author draws
on an extensive range of economic literature and considers
neoclassical arguments before analysing the issue from a
non-neoclassical economic, social gerontological and sociological
perspective. He maintains that conventional economic theory tends
to overstate the effects of population ageing on the economy. Thus,
he argues that while population ageing is a complex issue requiring
some policy adjustments, it is a less acute problem than is
suggested in popular and academic discussion. This book will be of
great importance to scholars and students with an interest in
population economics and the economics of social policy.
Defining markets has never been an easy task. Despite their
importance for economic theory and practice, they are hard to pin
down as a concept and economists have tended to adopt simplified
axiomatic models or rely on piecemeal case studies. This book
argues that an extended range of theory, social as well as
economic, can provide a better foundation for the portrayal of
markets. The book first looks at the definition of markets, their
inadequate treatment in orthodox economic theory, and their
historical background in the pre-capitalist and capitalist eras. It
then assesses various alternatives to orthodox theory, categorised
as social/cultural, structural, functional and ethical approaches.
Among the alternatives considered are institutionalist accounts,
Marxian views, network models, performativity arguments, field
theories, Austrian views and ethical notions of fair trade. A key
finding of the book is that these diverse approaches, valuable as
they are, could present a more effective challenge to orthodoxy if
they were less disparate. Possibilities are investigated for a more
unified theoretical alternative to orthodoxy. Unlike most studies
of markets, this book adopts a fully interdisciplinary viewpoint
expressed in accessible, non-technical language. Ideas are brought
together from heterodox economics, social theory, critical realism,
as well as other social sciences such as sociology, anthropology
and geography. Anybody seeking a broad critical survey of the
theoretical analysis of markets will find this book useful and it
will be of great interest to economists, social scientists,
students and policy-makers.
Defining markets has never been an easy task. Despite their
importance for economic theory and practice, they are hard to pin
down as a concept and economists have tended to adopt simplified
axiomatic models or rely on piecemeal case studies. This book
argues that an extended range of theory, social as well as
economic, can provide a better foundation for the portrayal of
markets. The book first looks at the definition of markets, their
inadequate treatment in orthodox economic theory, and their
historical background in the pre-capitalist and capitalist eras. It
then assesses various alternatives to orthodox theory, categorised
as social/cultural, structural, functional and ethical approaches.
Among the alternatives considered are institutionalist accounts,
Marxian views, network models, performativity arguments, field
theories, Austrian views and ethical notions of fair trade. A key
finding of the book is that these diverse approaches, valuable as
they are, could present a more effective challenge to orthodoxy if
they were less disparate. Possibilities are investigated for a more
unified theoretical alternative to orthodoxy. Unlike most studies
of markets, this book adopts a fully interdisciplinary viewpoint
expressed in accessible, non-technical language. Ideas are brought
together from heterodox economics, social theory, critical realism,
as well as other social sciences such as sociology, anthropology
and geography. Anybody seeking a broad critical survey of the
theoretical analysis of markets will find this book useful and it
will be of great interest to economists, social scientists,
students and policy-makers.
Economics, Culture and Social Theory examines how culture has been
neglected in economic theorising and considers how economics could
benefit by incorporating ideas from social and cultural theory.
Orthodox economics has prompted a long line of cultural criticism
that goes back to the origins of economic theory and extends to
recent debates surrounding postmodernism. William A. Jackson
discusses the cultural critique of economics, identifies the main
arguments, and assesses their implications. Among the topics
covered are relativism and realism, idealism and materialism,
agency and structure, hermeneutics, semiotics, and cultural
evolution. Drawing from varied literatures, notably social and
cultural theory, the book stresses the importance of culture for
economic behaviour and looks at the prospects for a renewed and
culturally informed economics. The book will be invaluable to
heterodox economists and to anyone interested in the links between
culture and the economy. It takes an interdisciplinary approach,
arguing against the isolation of economics, and will therefore hold
wide appeal for social scientists working in related fields, as
well as for economists specialising in cultural economics and
economic methodology.
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