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The study of the history of economic theory is entwined with both non-neoclassical and especially Marxist political economic analyses. These analyses basically relate the creation of an autonomous science of economic relations to the establishment of capitalism. Usually, the main agents in this interaction are social groups and especially social classes. Contrarily, neoclassical orthodoxy understands the history of economic theory as mere history of economic thought (i.e., a succession of personal contributions with limited relation to the socio-economic conditions). The relation between economy and economic theory is theorized through an a-social perspective, since social classes and politics are excluded and methodological individualism reigns. Recent post-modernist interpretations advance a historicist, relativist and politicist view. The reasons for the creation of an autonomous science of economic relations are to be found not in the socio-economic relations but mainly in the field of the political. This paper criticizes the post-modernist interpretations from a Marxist perspective and rejects them as historically unfounded and analytically infertile.
Once in a while the world astonishes itself. Anxious incredulity replaces intellectual torpor and a puzzled public strains its antennae in every possible direction, desperately seeking explanations for the causes and nature of what just hit it. 2008 was such a moment. Not only did the financial system collapse, and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism. Modern Political Economics has a single aim: To help readers make sense of how 2008 came about and what the post-2008 world has in store. The book is divided into two parts. The first part delves into every major economic theory, from Aristotle to the present, with a determination to discover clues of what went wrong in 2008. The main finding is that all economic theory is inherently flawed. Any system of ideas whose purpose is to describe capitalism in mathematical or engineering terms leads to inevitable logical inconsistency; an inherent error that stands between us and a decent grasp of capitalist reality. The only scientific truth about capitalism is its radical indeterminacy, a condition which makes it impossible to use science's tools (e.g. calculus and statistics) to second-guess it. The second part casts an attentive eye on the post-war era; on the breeding ground of the Crash of 2008. It distinguishes between two major post-war phases: The Global Plan (1947-1971) and the Global Minotaur (1971-2008). This dynamic new book delves into every major economic theory and maps out meticulously the trajectory that global capitalism followed from post-war almost centrally planned stability, to designed disintegration in the 1970s, to an intentional magnification of unsustainable imbalances in the 1980s and, finally, to the most spectacular privatisation of money in the 1990s and beyond. Modern Political Economics is essential reading for Economics students and anyone seeking a better understanding of the 2008 economic crash.
A work of political theory with a focus on questions of strategy that examines the politics of the New Left in the 1960s, showing how its expressivism led to political division and also prepared the ground for postmodernism. It shows also how the political economy of academic life in an increasingly commodified society strengthened the basis of postmodernism. Develops a brilliant account of a Marxism that sets itself the task of building a collective political subject capable of challenging capitalism in its moment of global crisis. [publisher web site].
The major themes of postmodernist writing are demystified in this introductory text. Robert Hollinger reviews key postmodern discussions on critical topics such as values, identity, and the self and society. He compares postmodern thinking with that of the enlightenment project, modernism, modernity, Marxism and Critical Theory. This, together with his treatment of Foucault, Lyotard, Baudrillard, Derrida, Deleuze, Guattari and other leading postmodern theorists, provides an excellent introduction to modern social theory.
Analyzes the complex unity of modernist culture, paying special attention to artistic, intellectual, and social institutions that embody value.
In A Political Economy of Modernism, Ronald Schleifer examines the political economy of what he calls 'the culture of modernism' by focusing on literature and the arts; intellectual disciplines of post-classical economics; and institutional structures of corporate capitalism and the lower middle-class. In its wide ranging study focused on modernist writers (Dreiser, Hardy, Joyce, Stevens, Woolf, Wells, Wharton, Yeats), modernist artists (Cézanne, Picasso, Stravinsky, Schoenberg), economists (Jevons, Marshall, Veblen), and philosophers (Benjamin, Jakobson, Russell), this book presents an institutional history of cultural modernism in relation to the intellectual history of Enlightenment ethos and the social history of the second Industrial Revolution. It articulates a new method of analysis of the early twentieth century - configuration and modeling - that reveals close connections among its arts, understandings, and social organizations.
The Great Financial Meltdown reviews, advocates and critiques the systemic, conjunctural and policy-based explanations for the 2008 crisis. The book expertly examines these explanations to assess their analytical and empirical validity. Comprehensive yet accessible chapters, written by a collection of prominent authors, cover a wide range of political economy approaches to the crisis, from Marxian through to Post Keynesian and other heterodox schools.
This volume covers the theoretical method, macroeconomics, microeconomics, international trade and finance, development, and policy of economic theory. It incorporates various alternative approaches as well as a broad spectrum of policy issues.
In a series of interviews this book explores the formative experiences of a generation of critical theorists whose work originated in the midst of what has been called 'the postmodern turn,' including discussions of their views on the evolution of critical theory over the past 30 years and their assessment of contemporary politics.