The Microfoundations Delusion
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The Microfoundations Delusion
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Author : John Edward King
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
The Microfoundations Delusion written by John Edward King 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 2012-01-01 with Business & Economics categories.
ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.
Advancing The Frontiers Of Heterodox Economics
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Author : Tae-Hee Jo
language : en
Publisher: Routledge
Release Date : 2015-07-30
Advancing The Frontiers Of Heterodox Economics written by Tae-Hee Jo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-30 with Business & Economics categories.
This collection of essays honors the life and work of one of the most prominent and fervent heterodox economists, Frederic S. Lee, who has been at the heart of the heterodox economics movements for the past three decades. Authors in this book demonstrate that heterodox economic has transcended the criticism of mainstream economics and, more importantly, that constructive developments are in the making by way of cross-communications among various heterodox economics traditions. Frederic S. Lee’s contributions to heterodox economics are centered on three themes: the making of a history and identity of heterodox economics, heterodox microeconomics, and the heterodox analysis of social provisioning. Part I addresses the importance of history, theory, research methods, and institutions in the making of the identity of heterodox economics as an alternative to mainstream economics. Part II delves into heterodox microeconomic theories—in particular, investment, pricing, competition, markets, and market governance—as foundations of heterodox macroeconomic analyses. Part III expands the analysis of the capitalist social provisioning process with an emphasis on its subsystems and their relationships over historical time. Part IV encapsulates the life and work of Frederic S. Lee. Throughout his intellectual life Frederic S. Lee has shown to many that the development of heterodox economics is rendered possible by unselfish and ceaseless efforts to build both theory and institutions. Essays in this book attest that establishing an alternative critical theory to the status quo is not only possible but also serviceable to the majority of the population.
The Nobel Factor
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Author : Avner Offer
language : en
Publisher: Princeton University Press
Release Date : 2019-11-19
The Nobel Factor written by Avner Offer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-19 with Business & Economics categories.
Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world--the "market turn." This is what Avner Offer and Gabriel Soderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets
The Oxford Handbook Of Post Keynesian Economics Volume 2
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Author : Geoffrey Colin Harcourt
language : en
Publisher: Oxford University Press, USA
Release Date : 2013-07
The Oxford Handbook Of Post Keynesian Economics Volume 2 written by Geoffrey Colin Harcourt and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07 with Business & Economics categories.
These two volumes cover the principal areas to which Post-Keynesian economists have made distinctive contributions. The contents include the significant criticism by Post-Keynesians of mainstream economics, but the emphasis is on positive Post-Keynesian analysis of the economic problems of the modern world and of policies with which to tackle them.
The Oxford Handbook Of Post Keynesian Economics Volume 1
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Author : Geoffrey Colin Harcourt
language : en
Publisher: Oxford University Press, USA
Release Date : 2013-07
The Oxford Handbook Of Post Keynesian Economics Volume 1 written by Geoffrey Colin Harcourt and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07 with Business & Economics categories.
These two volumes cover the principal areas to which Post-Keynesian economists have made distinctive contributions. The contents include the significant criticism by Post-Keynesians of mainstream economics, but the emphasis is on positive Post-Keynesian analysis of the economic problems of the modern world and of policies with which to tackle them.
The Oxford Handbook Of Post Keynesian Economics Volume 2
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Author : G. C. Harcourt
language : en
Publisher: Oxford University Press
Release Date : 2013-08-16
The Oxford Handbook Of Post Keynesian Economics Volume 2 written by G. C. Harcourt and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-16 with Business & Economics categories.
This two volume Handbook contains chapters on the main areas to which Post-Keynesians have made sustained and important contributions. These include theories of accumulation, distribution, pricing, money and finance, international trade and capital flows, the environment, methodological issues, criticism of mainstream economics and Post-Keynesian policies. The Introduction outlines what is in the two volumes, in the process placing Post-Keynesian procedures and contributions in appropriate contexts.
Marx Veblen And The Foundations Of Heterodox Economics
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Author : Tae-Hee Jo
language : en
Publisher: Routledge
Release Date : 2015-07-30
Marx Veblen And The Foundations Of Heterodox Economics written by Tae-Hee Jo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-30 with Business & Economics categories.
John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry’s contributions in connection to Marx’s and Veblen’s theories, but also apply them to the socio-economic issues in the 21st century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx’s and Veblen’s theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry’s heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading.
The Alternative Austrian Economics
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Author : John E. King
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019-12-27
The Alternative Austrian Economics written by John E. King 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 2019-12-27 with Business & Economics categories.
For most economists, ‘Austrian economics’ refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, it analyses the work and impact of many leading Austrian economists through a century of Austrian socialist economics.
Microbiology
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Author : NARAYAN CHANGDER
language : en
Publisher: CHANGDER OUTLINE
Release Date : 2022-12-19
Microbiology written by NARAYAN CHANGDER and has been published by CHANGDER OUTLINE this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-19 with Juvenile Nonfiction categories.
Note: Anyone can request the PDF version of this practice set/workbook by emailing me at [email protected]. I will send you a PDF version of this workbook. This book has been designed for candidates preparing for various competitive examinations. It contains many objective questions specifically designed for different exams. Answer keys are provided at the end of each page. It will undoubtedly serve as the best preparation material for aspirants. This book is an engaging quiz eBook for all and offers something for everyone. This book will satisfy the curiosity of most students while also challenging their trivia skills and introducing them to new information. Use this invaluable book to test your subject-matter expertise. Multiple-choice exams are a common assessment method that all prospective candidates must be familiar with in today?s academic environment. Although the majority of students are accustomed to this MCQ format, many are not well-versed in it. To achieve success in MCQ tests, quizzes, and trivia challenges, one requires test-taking techniques and skills in addition to subject knowledge. It also provides you with the skills and information you need to achieve a good score in challenging tests or competitive examinations. Whether you have studied the subject on your own, read for pleasure, or completed coursework, it will assess your knowledge and prepare you for competitive exams, quizzes, trivia, and more.
Structuralist And Behavioral Macroeconomics
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Author : Peter Skott
language : en
Publisher: Cambridge University Press
Release Date : 2023-09-21
Structuralist And Behavioral Macroeconomics written by Peter Skott and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-21 with Business & Economics categories.
Mainstream macroeconomics is founded on the idea of perfectly rational representative agents. Yet there is a growing realization that economic theories based on such agents are inadequate guides to real-world decision making. The behavioural evidence has had significant impacts on microeconomics but the same cannot be said of macroeconomics. This book is part of the movement to do for macroeconomics what behavioural thinking has done for microeconomics. Using behavioural evidence and insights from Keynesian and institutionalist traditions, it presents an empirically grounded alternative to the paradigm that currently dominates macroeconomic theory. It highlights how dynamic interactions across markets can generate instability, endogenous cycles and secular stagnation. It fully engages with macroeconomic theory, provides a multi-faceted view that explains how and why it is time to rethink its foundations and offers a path forward.