Suchergebnisse

1. On the origin and dissemination of ideas -- 2. Capitalism, science and fraud -- 3. The theory of value from the heroic age to the industrial revolution -- 4. The interregnum : from Smith to Ricardo -- 5. The dissolution of the labor theory of value and the rise to dominance of utility -- 6. The consolidation of 1870-1900 and the rise of monopoly capital -- 7. Conclusion.

Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- Preface -- Acknowledgements -- 1 What is Economics About? -- 2 Theory of Household Demand -- 3 The Distribution of Income -- The conventional (neoclassical) story -- Some critical analysis -- 4 An Alternative Approach -- Some basic thoughts -- The Ricardian precursor -- 5 Introduction to Growth Analysis -- Beginning mechanics -- An endogenous growth model -- The basic neoclassical model -- The dynamics of Harrod-Domar -- 6 The Role of Prices and Their Formation -- Introduction -- A General Classical Model -- The Sraffian approach -- The matter of returns -- A subsistence economy -- A surplus economy -- A shared surplus economy -- That 'invariable measure ' and standard commodity -- The setting of prices -- 7 An Overall View -- Introduction -- Further analysis - the Kaldor Model -- The Pasinetti adjustment -- The anti-Pasinetti theorem -- The Pasinetti response -- An updated reformulation -- 8 Money and Keynesian Economics -- The neoclassical approach and the long term -- Uncertainty, money and Keynes -- Post-Keynesian monetary theory and Re-thinking Keynes -- Re-thinking some Keynesian relationships -- Additional restructuring -- 9 End Thoughts

Mainstream economics ignores power, meaning it can provide only partial explanations of inequality and poverty. Ozanne proposes a new approach for including power in standard microeconomic theory which, if adopted in economics teaching, could radically change the way young economists are taught to think about economic problems.

Chapter 1. Introduction -- Chapter 2. Rediscovering Classical Economics in the Laboratory -- Chapter 3. Price Formation: Overview of the Theory -- Chapter 4. Price Formation: Partial Equilibrium -- Chapter 5. Price Formation: General Equilibrium -- Chapter 6. Financial Instability: Re-tradable Assets and Speculation.

1. What is this 'school' called neoclassical economics? / Tony Lawson -- 2. From neoclassical theory to mainstream modelling : fifty years of moral hazard in perspective / John Latsis and Constantinos Repapis -- 3. Neoclassicism, critical realism and the Cambridge methodological tradition / Sheila Dow -- 4. Lawson, Veblen and Marshall: how to read modern neoclassicism / Anne Mayhew -- 5. Lawson on Veblen on social ontology / John B. Davis -- 6. Why is this 'school' called neoclassical economics? Classicism and neoclassicism in historical context / Nuno Ornelas Martins -- 7. Ten propositions on 'neoclassical economics' / John King -- 8. Neoclassical economics : an elephant is not a chimera but is a chimera real? / Ben Fine -- 9. The state of nature and natural states : ideology and formalism in the critique of neoclassical economics / Brian O'Boyle and Terrence McDonough -- 10. Heterodox economics, social ontology and the use of mathematics / Mark Setterfield -- 11. Is neoclassical economics mathematical? Is there a non-neoclassical mathematical economics? / Steve Keen -- 12. Neoclassicism forever / Don Ross -- 13. Reflections upon neoclassical labour economics / Steve Fleetwood.

This book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables. Sabiou M. Inoua is a visiting research associate at the Economic Science Institute at Chapman University. His primary research now pertains to value theory and its intellectual history; his other research interests include the stylized facts of financial markets, the link between economic complexity and economic development, and the theory of inequality measurement. Vernon L. Smith received the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in experimental economics. Smith has joint appointments with the Argyros School of Business & Economics and the School of Law, and is part of the team that has created the new Economic Science Institute at Chapman University. He is also a cofounder of The Smith Institute for Political Economy and Philosophy which has been established to create the Humanomics undergraduate research and education program at Chapman University.

Intro -- About the Book -- Contents -- Chapter 1: Introduction to the Jurisprudence of Property and Contract -- 1.1 Introduction -- 1.2 The Conventional Neglect of the Question of Appropriation -- 1.3 The Fundamental Myth -- 1.4 The `Invisible Hand´ in the Property System -- 1.5 Normative Theory of Appropriation and Transfers of Property -- 1.5.1 Applying the Juridical Principle of Imputation to All Intentional Human Activities -- 1.5.2 Rights-Based Normative Economics -- 1.6 The Fundamental Theorem for the Property Mechanism -- 1.7 Description of Production in the Employment System -- 1.7.1 The Facts of the Case -- 1.7.2 How Does the Description of Employment Square with the Fundamental Theorem? -- References -- Chapter 2: Mathematical Introduction to the Jurisprudence of Property and Contract -- 2.1 From Numbers to Vectors of Numbers -- 2.2 Graphs -- 2.3 The Contractual Mechanism -- 2.4 Analysis of Breaches and Externalities -- 2.5 ``Appropriation Is the Boundary of Contract´´ -- 2.6 Responsible Actions and Factual Transfers -- 2.7 Fundamental Theorem of Property Theory -- 2.8 Intuitive Summary of Basic Ideas: A Water Meter Example -- 2.9 Intuitive Summary of Basic Ideas: Accounting Examples -- 2.10 Application to the Human Rental Firm -- 2.11 Appendix: The Mathematical Development Using General Vectors -- 2.11.1 Node and Arc Assignments -- 2.11.2 Divergence Operator -- 2.11.3 Cuts -- 2.11.4 The Covering Relation -- 2.11.5 The Contractual Mechanism -- 2.11.6 Analysis of Breaches and Externalities -- 2.11.7 An Exchange Example -- 2.11.8 Appropriation Is the Boundary of Contract -- 2.11.9 Responsible Actions and Factual Transfers -- 2.11.10 Fundamental Theorem of Property Theory -- 2.11.11 Application to the Human Rental Firm -- 2.11.12 The Equivalence Between the Two Mathematical Formulations -- References.

This book is in equal parts a treatise on morality and economics, a critique of neoclassical orthodoxy, a brief for replacing mainstream economics with a radical political economics, and an argument for the abandonment of neoliberal capitalism in favor of democratic socialism. It includes a detailed proposal for a "demand and cost" alternative to "supply and demand" analysis and an in-depth technical critique of both neoclassical "high theory" and "applied microeconomic analysis" demonstrating that these are not only infeasible or immoral, but have directly contributed to public policy disasters. Further, the book suggests that only a moral economics in the form of radical political economy can address the looming economic and environmental crises of todays world. Baiman begins with an introduction to morality and ethics in both general sciences and in economics in particular. He then guides readers through evidence of how neoclassical economics has not only failed to remain objective and value-free, but has become an ideology of apologetics protecting an immoral system. In addition to breaking down real-world examples to demonstrate his assertions, Baiman analyzes a theoretical Utopia design exercise. He concludes by arguing that the only form of economics that supports widely shared human valuessuch as social equity, democracy, and solidarityis so-called "radical economics", and that all true economics science should be directed toward achieving more socially productive economic activity. An invaluable guide to morality and economics, this book will appeal to researchers and teachers looking to change the way we think about economics, policy, and society