This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction.
The second volume offers a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics, one that integrates goods, labour and financial markets and another from the perspective of a conventional type of LM-analysis or interest-rate policy of the central bank.
This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed ...
Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades' worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent...
Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different appro...
How should we conduct economics in an era of climate change, natural resource depletion and population increase? These issues are systemic, and involve great uncertainties and long time horizons. This book contends that the free-market economics that has dominated capitalist democracies in recent decades is not up to the task; that the welfarist economics that preceded it, while preferable, also has inadequacies; and that what is required is an economics founded on ecological principles, greater respect for the laws of natural science, and a moral commitment to a sustainable future. The book...
How should we conduct economics in an era of climate change, natural resource depletion and population increase? These issues are systemic, and involv...
This book examines the treatment of culture and development in the discipline of economics, thereby filling a conspicuous gap in current literature. Economics has come a long way to join the 'cultural turn' that has swept the humanities and social sciences in the last half century. This volume identifies some of the issues that major philosophies of economics must address to better grasp the cultural complexity of contemporary economies.
This book is an extensive survey of the place of culture and development in four theoretical economic perspectives-Neoclassical, Marxian,...
This book examines the treatment of culture and development in the discipline of economics, thereby filling a conspicuous gap in current literature...
The Capability Approach has developed significantly since Amartya Sen was awarded the Nobel Prize in Economics in 1998. It is now recognised as being highly beneficial in the analysis of poverty and inequality, but also in the redefinition of policies aimed at improving the well-being of individuals.
Although acknowledging the undeniable progress that the approach has made in renewing the thinking on the development and well-being of a population, this book takes a critical stance. It focuses particularly on the approach s inadequateness vis- -vis the continental phenomenological...
The Capability Approach has developed significantly since Amartya Sen was awarded the Nobel Prize in Economics in 1998. It is now recognised as bei...
After the 'financial crisis' and 'Great Recession', some have called for replacing standard economic theory by heterodox models based upon behavioural approaches. The Responsible Economy argues that there is nothing wrong with economic theory. Instead, the problem has been a 'devil's pact' of simplistic pro-market economics combined with simplistic Keynesian monetary policy.
This book revisits the fundamental theorems in economics that state the conditions for markets to achieve efficiency. It has long been known that there are limitations of markets in dealing with...
After the 'financial crisis' and 'Great Recession', some have called for replacing standard economic theory by heterodox models based upon behaviou...
Is Economics an 'objective' or 'positive' science, independent of ethical and political positions? The financial crisis that began in 2007 gave rise to renewed doubts regarding the 'objectivity' of economics and brought into the public arena a debate that was previously confined to academia. A remarkable feature of the public debate on the value neutrality of economics since then was that it not only involved indictments of ideological biases in economic theory, but also the attribution of the crisis itself to the unethical orientation of economic agents, of economists acting as experts and...
Is Economics an 'objective' or 'positive' science, independent of ethical and political positions? The financial crisis that began in 2007 gave rise t...
This volume is a collection of some of the best and most influential work of Yanis Varoufakis. The chapters all address the issue of economic indeterminacy, and the place of a socialized homo economicus within the economy.
This volume is a collection of some of the best and most influential work of Yanis Varoufakis. The chapters all address the issue of economic indeterm...
The history of European economic thought has long been written by those seeking to prove or disprove the truth-value of the theories they describe. This work takes a different approach. It explores the philosophical groundwork of the theoretical structure within which economic subjects are presented. Demonstrating how the subjects of economic texts tend to be defined in and through their relationship to knowledge, this study addresses the epistemological constitution of subjectivity in economic thought.
The history of European economic thought has long been written by those seeking to prove or disprove the truth-value of the theories they describe. Th...
Most economic theory is based on the assumption that economies grow in a linear fashion. Recessions, depressions and (financial) crises are explained by policy mistakes. However, economic development has historically been uneven, and this state of affairs continues today. This book argues that twentieth century economic theory has marginalized individualism and organizational variety, and puts forward the case for a pluralist approach. This book represents a unique synthesis of business theory and economic theory, which pinpoints the problems with many current mainstream theories and sets out...
Most economic theory is based on the assumption that economies grow in a linear fashion. Recessions, depressions and (financial) crises are explained ...
