Economic Theory For The Real World
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Economic Theory For The Real World
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Author : Víctor A. Beker
language : en
Publisher:
Release Date : 2024
Economic Theory For The Real World written by Víctor A. Beker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024 with Ecology categories.
"After the Great Financial Crisis economic theory was fiercely criticized from both outside and inside the discipline for being incapable of explaining a crisis of such magnitude. Slowly but persistently, new strands of economic thought are developing, to replace the old-fashioned neoclassical economic theory, which have a common characteristic: they are better suited to help understand the real-world economy. This book explores the key tenets and applications of these. The book opens with an explanation of the 'real world' approach to economics in which theoretical models resemble real world situations, realistic assumptions are made, and factors such as uncertainty, coordination problems and bounded rationality are incorporated. Additionally, the book explores the ramifications of considering the economy as both a dynamic system - with a past, present and future - as well as a complex one. These theoretical precepts of the real world economy are then applied to some of the most pressing economic issues facing the world today including ecological sustainability, the rise of corporate power, the growing dominance of the financial world, and rising unemployment, poverty and inequality. In each case, the book reveals the insights of the shortcomings of the neoclassical approach which fails to illuminate the complexities behind each issue. It is demonstrated that, by contrast, adopting an approach grounded in the real world has the power to produce policy proposals to help tackle these problems. This book is essential reading for anyone seeking a deeper understanding of the economy, including readers from economics and across the social sciences"--
Economic Theory For The Real World
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Author : Victor A. Beker
language : en
Publisher: Taylor & Francis
Release Date : 2023-11-03
Economic Theory For The Real World written by Victor A. Beker and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-03 with Business & Economics categories.
After the Great Financial Crisis economic theory was fiercely criticized from both outside and inside the discipline for being incapable of explaining a crisis of such magnitude. Slowly but persistently, new strands of economic thought are developing, to replace the old-fashioned neoclassical economic theory, which have a common characteristic: they are better suited to help understand the real-world economy. This book explores the key tenets and applications of these. The book opens with an explanation of the ‘real world’ approach to economics in which theoretical models resemble real world situations, realistic assumptions are made, and factors such as uncertainty, coordination problems and bounded rationality are incorporated. Additionally, the book explores the ramifications of considering the economy as both a dynamic system – with a past, present and future – as well as a complex one. These theoretical precepts of the real world economy are then applied to some of the most pressing economic issues facing the world today including ecological sustainability, the rise of corporate power, the growing dominance of the financial world, and rising unemployment, poverty and inequality. In each case, the book reveals the insights of the shortcomings of the neoclassical approach which fails to illuminate the complexities behind each issue. It is demonstrated that, by contrast, adopting an approach grounded in the real world has the power to produce policy proposals to help tackle these problems. This book is essential reading for anyone seeking a deeper understanding of the economy, including readers from economics and across the social sciences.
Economics Of The Real World
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Author : Peter Donaldson
language : en
Publisher: Penguin UK
Release Date : 1984
Economics Of The Real World written by Peter Donaldson and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Economic policy categories.
Foundations Of Real World Economics
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Author : John Komlos
language : en
Publisher: Taylor & Francis
Release Date : 2023-03-20
Foundations Of Real World Economics written by John Komlos and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-20 with Business & Economics categories.
The 2008 financial crisis, the rise of Trumpism, and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks remain frozen in time, continuing to uphold traditional policies as though nothing has happened. Foundations of Real-World Economics demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in mainstream models. Bringing together the work of key scholars like Kahneman, Minsky, and Schumpeter, this textbook takes into consideration the inefficiencies that arise when the perfectly competitive model is applied to the real world dominated by multinational oligopolies. The third edition has been updated throughout, bringing in new material on the financial crises, the rise of populism, racism, inequality, climate change, and the Covid-19 pandemic. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching as John Komlos focuses on the paradigm of humanistic economics.
Economics Versus Reality
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Author : John M Legge
language : en
Publisher: Routledge
Release Date : 2017-09-08
Economics Versus Reality written by John M Legge and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-08 with Business & Economics categories.
John M. Legge shows the many ways in which the real world diverges from economics textbooks. He argues that mainstream economic theory took a disastrous turn 140 years ago, when it attempted to use calculus to explain human behaviour. A real economy involves people who are not variables in equations. This error led to a second, mainstream economics becoming obsessed with equilibrium. However, constant change is the reality and one cannot explain the present without understanding the path taken to get here. This book presents economics in historical context. It includes a short account of the contributions by some of the key figures in economic theory, starting with Adam Smith. Smith placed great weight on morality: he believed that economic activity took place in a society and could not be justified except insofar as it advanced the interests of that society. Too many economists have come to believe that the interests of society can be measured by a number: that if a policy change raises GDP it is justified, whatever its impact on people.Legge places the economy within society, and society within the environment, explaining that every significant decision has a social and environmental impact, as well as an economic dimension. Seeking to provide answers to students, professional business managers, and those interested in the political process, this work addresses the gap between theory and reality.
Real World Economics
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Author : Edward Fullbrook
language : en
Publisher: Anthem Press
Release Date : 2007-02
Real World Economics written by Edward Fullbrook and has been published by Anthem Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-02 with Business & Economics categories.
An engaging, important text calling for the reform of economics and pushing for the discipline to become an honest and effective tool for democracy.
Tempered With Reality
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Author : A. P. O'Malley
language : en
Publisher: Cognella Academic Publishing
Release Date : 2012-12
Tempered With Reality written by A. P. O'Malley and has been published by Cognella Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12 with Business & Economics categories.
This title analyzes several economic theories and measures each against reality to determine whether or not these theories actually work in the real world. The book explains what economics is truly all about: how it works, how it is flawed, and what the future may hold for economies around the world. It examines how the theories that work in perfect equilibrium in the classroom may no longer apply to an increasingly complex business and economic environment.
The Real World Of The New Economy
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Author : Steve Waller
language : en
Publisher: iUniverse
Release Date : 2001
The Real World Of The New Economy written by Steve Waller and has been published by iUniverse this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Economist and author, Steven Waller, provides readers with economic information outside the conventional school of thought based on relatively unknown economic theories. He states that the so-called New Economy is redundant except in static traditional economic thinking. The economy is always new, always changing, and on a path determined by our society and culture. The Heterodox Triad of Understanding provides readers with a basic method to view the economy.
Nicholas Kaldor And The Real World
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Author : Marjorie Shepherd Turner
language : en
Publisher: Routledge
Release Date : 2016-09-16
Nicholas Kaldor And The Real World written by Marjorie Shepherd Turner and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-16 with Business & Economics categories.
First Published in 1994. Nicholas Kaldor was born in Hungary in 1908 and died as Baron Kaldor of Newnham in the City of Cambridge, England, in 1986. The years between revealed no hint of scandal or psychological problems that might make Kaldor the subject of a novel. His life was, instead, a straight line of growth and achievement, of intellectual enjoyment and strong values. Kaldor's struggles were intellectual-namely, his efforts to comprehend the economics of the real world, to fit this understanding into economic theory, and to convince his fellow citizens and economists of the accuracy of his perceptions. Kaldor forces us to ponder what the relationship between economic theory and practice should be.
How Markets Work
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Author : Robert E. Prasch
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008-01-01
How Markets Work written by Robert E. Prasch and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-01 with Business & Economics categories.
How Markets Work presents a new and refreshing introduction to elementary economics. The venerable theory of supply and demand is reconstituted upon plausible and defensible assumptions concerning human nature, the law, and the facts of everyday life in short the Real World . The message is that markets differ in ways that matter. Starting with a brief survey of property and contract law, the lectures develop several ideal types of markets such as credit, assets, and labor while illuminating the similarities and differences among them. Care has been taken to ensure that the reformulations presented are accessible to students and compatible with a variety of non-mainstream traditions in economic thought. Topics covered include the theory of markets, labor markets, market processes when influenced by the availability of information, and social, ethical and political considerations. Also discussed are commodity, credit and asset markets, contracts, dynamics of labor markets, and the economics of discrimination. This book is intended as an essential supplemental text for undergraduate economics students, particularly in heterodox programs, as well as for those in companion liberal arts and sociology fields looking for an accessible introduction to essential economic theory.