Power And Neoclassical Economics

Author : A. Ozanne
Publisher : Palgrave Pivot
ISBN 13 : 9781137553720
Total Pages : 0 pages
Book Rating : 4.23/5 ( download)

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Download or read book Power and Neoclassical Economics written by A. Ozanne and published by Palgrave Pivot. This book was released on 2015-11-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economics almost completely ignores the role power plays in determining economic outcomes, which means it can only provide partial explanations of the distribution of wealth and income, and of the problems associated with inequality and poverty. For many, this is a fundamental failing that severely limits its relevance to the real world and is the source of much dissatisfaction with, and cynicism about, economics and economists. Ozanne explains how this neglect of power has come about over the past 150 years and why it is important. He reviews various definitions and theories of power from across the social sciences and proposes a new approach that could bring considerations of power back into standard economic theory and economics teaching. The approach is simple and intuitive, involving little more than re-envisioning the social welfare function as a 'political economy function'. However, if adopted in economics teaching, it could radically change the way young economists are taught to think about economic problems and lead to a 'return to political economy'.

Author : A. Ozanne
Publisher : Springer
ISBN 13 : 1137553731
Total Pages : 101 pages
Book Rating : 4.37/5 ( download)

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Download or read book Power and Neoclassical Economics written by A. Ozanne and published by Springer. This book was released on 2016-01-26 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economics almost completely ignores the role power plays in determining economic outcomes, which means it can only provide partial explanations of the distribution of wealth and income, and of the problems associated with inequality and poverty. For many, this is a fundamental failing that severely limits its relevance to the real world and is the source of much dissatisfaction with, and cynicism about, economics and economists. Ozanne explains how this neglect of power has come about over the past 150 years and why it is important. He reviews various definitions and theories of power from across the social sciences and proposes a new approach that could bring considerations of power back into standard economic theory and economics teaching. The approach is simple and intuitive, involving little more than re-envisioning the social welfare function as a 'political economy function'. However, if adopted in economics teaching, it could radically change the way young economists are taught to think about economic problems and lead to a 'return to political economy'.

Author : Johan Christensen
Publisher : Stanford University Press
ISBN 13 : 1503601854
Total Pages : 232 pages
Book Rating : 4.57/5 ( download)

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Download or read book The Power of Economists within the State written by Johan Christensen and published by Stanford University Press. This book was released on 2017-04-11 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The spread of market-oriented reforms has been one of the major political and economic trends of the late twentieth and early twenty-first centuries. Governments have, to varying degrees, adopted policies that have led to deregulation: the liberalization of trade; the privatization of state entities; and low-rate, broad-base taxes. Yet some countries embraced these policies more than others. Johan Christensen examines one major contributor to this disparity: the entrenchment of U.S.-trained, neoclassical economists in political institutions the world over. While previous studies have highlighted the role of political parties and production regimes, Christensen uses comparative case studies of New Zealand, Ireland, Norway, and Denmark to show how the influence of economists affected the extent to which each nation adopted market-oriented tax policies. He finds that, in countries where economic experts held powerful positions, neoclassical economics broke through with greater force. Drawing on revealing interviews with 80 policy elites, he examines the specific ways in which economists shaped reforms, relying on an activist approach to policymaking and the perceived utility of their science to drive change.

Author : Randall Bartlett
Publisher : Cambridge University Press
ISBN 13 : 0521355621
Total Pages : 223 pages
Book Rating : 4.29/5 ( download)

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Download or read book Economics and Power written by Randall Bartlett and published by Cambridge University Press. This book was released on 1989-09-29 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a marketplace is considered in isolation, the implicit conclusion is that markets are a sufficient defence against the exercise of power. But market transactions do not occur in isolation: they are defined by rules, property rights, prior events and social values. This book widens the focus of traditional economic analysis to examine the ways in which people may affect each other within and around markets to give rise to real power. Using conventional neoclassical assumptions about human behaviour, the book begins by developing a workable concept of power, allowing for its presence in a variety of forms and degrees. It examines the conditions under which power would necessarily be absent from market transactions and those under which it would be possible. It considers the decision processes of potential exercisers and subjects of power to determine when the exercise and success of power would be rational.

Author : James A. Caporaso
Publisher : Cambridge University Press
ISBN 13 : 9780521425780
Total Pages : 258 pages
Book Rating : 4.86/5 ( download)

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Download or read book Theories of Political Economy written by James A. Caporaso and published by Cambridge University Press. This book was released on 1992-08-28 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exploration of some of the more important frameworks used for understanding the relationship between politics and economics includes the classical, Marxian, Keynesian, neoclassical, state-centered, power-centered, and justice-centered.

Author : John F. Henry
Publisher : Routledge
ISBN 13 : 0415618738
Total Pages : 288 pages
Book Rating : 4.31/5 ( download)

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Download or read book The Making of Neoclassical Economics written by John F. Henry and published by Routledge. This book was released on 2012-03-02 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1990, this unique explanation of the rise of neoclassical economics views social change as an engine promoting change in theory. It attempts to develop a theory of the origins, consolidation and rise to dominance of the neoclassical school of thought. In so doing, it addresses the contest between the labour and utility theories of value; both are placed in historical context, and reasons are offered for the relative success of each in particular historical periods. It is argued that the eventual dominance of neoclassicism, a theory based on the social changes then taking place, resulted not from its scientific superiority but from its non-social perspective which ignores the social order upon which it depends.

Author : Richard D. Wolff
Publisher : MIT Press
ISBN 13 : 0262517833
Total Pages : 425 pages
Book Rating : 4.36/5 ( download)

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Download or read book Contending Economic Theories written by Richard D. Wolff and published by MIT Press. This book was released on 2012-09-07 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Author : Jens Maesse
Publisher : Routledge
ISBN 13 : 1000222233
Total Pages : 286 pages
Book Rating : 4.34/5 ( download)

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Download or read book Power and Influence of Economists written by Jens Maesse and published by Routledge. This book was released on 2021-05-23 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists occupy leading positions in many different sectors including central and private banks, multinational corporations, the state and the media, as well as serving as policy consultants on everything from health to the environment and security. Power and Influence of Economists explores the interconnected relationship between power, knowledge and influence which has led economics to be both a source and beneficiary of widespread power and influence. The contributors to this book explore the complex and diverse methods and channels that economists have used to exert and expand their influence from different disciplinary and national perspectives. Four different analytical views on the role of power and economics are taken: first, the role of economic expert discourses as power devices for the formation of influential expertise; second, the logics and modalities of governmentality that produce power/knowledge apparatuses between science and society; third, economists as involved in networks between academia, politics and the media; and forth, economics considered as a social field, including questions of legitimacy and unequal relations between economists based on the detention of various capitals. The volume includes case studies on a variety of national configurations of economics, such as the US, Germany, Italy, Switzerland, Greece, Mexico and Brazil, as well as international spaces and organisations such as the IMF. This book provides innovative research perspectives for students and scholars of heterodox economics, cultural political economy, sociology of professions, network studies, and the social studies of power, discourse and knowledge. “The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9780367817084, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.”

Author : Mark R. Brawley
Publisher : Routledge
ISBN 13 : 1135196869
Total Pages : 161 pages
Book Rating : 4.68/5 ( download)

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Download or read book Political Economy and Grand Strategy written by Mark R. Brawley and published by Routledge. This book was released on 2009-09-10 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines traditional balance of power theory from a political-economic perspective, using historical examples, to draw out distinctions between the liberal and realist approach and how this affects grand strategy. The realist view of the balance of power theory includes implicit assumptions that economic assets can be turned quickly into power, and that states always respond to threats quickly and only with a view to the 'short-run'. These assumptions drive many of the expectations generated from traditional balance-of-power theory, discouraging realists from looking at domestic sources of power, which in turn undermined their ability to frame strategic decisions properly. By thinking about how power must be managed over time, however, we can model the choices policy-makers confront when determining expenditures on defense, while keeping an eye on the impact of those costs on the economy. By emphasizing the role of the state, identifying different causal patterns in domestic politics, and demonstrating the importance of systemic competition, this book aims to establish why a neo-classical realist approach is not only different from a liberal approach, but also superior when addressing questions on grand strategy. This book will be of much interest to students of security studies, international political economy, grand strategy and IR theory in general. Mark R. Brawley is Professor of Political Science at McGill University, Montreal, Canada. He is author of several books on International Relations, specialising in the connections between political economic issues and security.

Author : Klaus Hennings
Publisher : Springer Science & Business Media
ISBN 13 : 9400921810
Total Pages : 380 pages
Book Rating : 4.18/5 ( download)

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Download or read book Neoclassical Economic Theory, 1870 to 1930 written by Klaus Hennings and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warren J. Samuels Each book in this series explores the present status of its field in terms of where it is, how it got there, the existing tensions within the field, and something of how the field might develop in the future. Each book presumes that work in each field is neither settled nor unequivocal. Each book attempts to comprehend its field as an evolving, developmental process or set or efforts. This particular book, covering neoclassical economics, is the third of three in the field of the History of Economic Thought. The others are Pre-Classical Economic Thought, edited by S. Todd Lowry, and Classical Political Economy, edited by William O. Thweatt. Each one conducts the same kind of analysis as the others in the series, with the understanding that here we are dealing with the history of interpretation, rather than a substantive body of analysis of a certain aspect of the economy: for example, labor or international trade. (That understanding must be com plex and subtle, inasmuch as revision of interpretation of earlier ideas is part of the process-both cause and consequence-of re-analyzing the economy. ) In this group we are interested in how recent and contemporary writers have interpreted the history of economic thought differently, both among themselves and from earlier writers. 1 NEOCLASSICAL ECONOMIC lHEORY 2 Several topics must be discussed to place such work in perspective, in part as it is here applied to the history of the interpretation of neoclassical economics.