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This volume is a history of economics – as it was interpreted, discussed and established as a discipline – in the 20th century. It highlights the pluralism of the discipline and brings together leading voices in the field who reflect on their lifelong work. The chapters draw on a host of traditions of economic thought, including pre-classical, classical, Marxian, neoclassical, Sraffian, post-Keynesian, Cantabrigian and institutionalist traditions in economics. Further, the volume also looks at the history of economics in India and its evolution as a discipline since the country’s independence. This book will appeal to students, researchers and teachers of economics and intellectual history, as well as to the interested general reader.
Pluralism in Economics sheds new light on the various meanings & consequences of pluralist approaches to the history & methodology of economics. It focuses on philosophical & methodological issues, & contains case studies.
In order to fully understand the evolution and future growth of economic systems, we must draw on the lessons of economic history. The 2008 Financial Crisis, for example, mirrored past economic meltdowns with uncanny accuracy. Just like the Great Depression of the 1930s and the Savings and Loan Crisis of the 1980s, it featured deregulated lenders taking incredible risks with other people’s money. Historical analysis is crucial to understanding trends and patterns that can help us predict the future. This text presents a ground-breaking, pluralistic introduction to economic history and the history of economic thought. Tracing the development of economic systems and economic thought, the text introduces students to the story from ancient times to contemporary capitalism, and also its critics. Focusing in particular on Smith, Marx, Veblen, and Keynes, the text encourages students to consider which ideas and systems are still relevant in the modern world. This book can be used as a standalone text for relevant classes or as a supplement in any principles course.
Economics is a broad and diverse discipline, but most economics textbooks only cover one way of thinking about the economy. This book provides an accessible introduction to nine different approaches to economics: from feminist to ecological and Marxist to behavioural. Each chapter is written by a leading expert in the field described and is intended to stand on its own as well as providing an ambitious survey that seeks to highlight the true diversity of economic thought. Students of economics around the world have begun to demand a more open economics education. This book represents a first step in creating the materials needed to introduce new and diverse ideas into the static world of undergraduate economics. This book will provide context for undergraduate students by placing the mainstream of economic thought side by side with more heterodox schools. This is in keeping with the Rethinking Economics campaign which argues that students are better served when they are presented with a spectrum of economic ideas rather than just the dominant paradigm. Rethinking Economics: An Introduction to Pluralist Economics is a great entry-level economics textbook for lecturers looking to introduce students to the broader range of ideas explored within the economics profession. It is also appropriate and accessible for people outside of academia who are interested in economics and economic theory.
This volume is a history of economics – as it was interpreted, discussed and established as a discipline – in the 20th century. It highlights the pluralism of the discipline and brings together leading voices in the field who reflect on their lifelong work. The chapters draw on a host of traditions of economic thought, including pre-classical, classical, Marxian, neoclassical, Sraffian, post-Keynesian, Cantabrigian and institutionalist traditions in economics. Further, the volume also looks at the history of economics in India and its evolution as a discipline since the country’s independence. This book will appeal to students, researchers and teachers of economics and intellectual history, as well as to the interested general reader.
Shows how economics was once rich, diverse, multidimensional and pluralistic. Details how political economy became economics through the desocialisation and dehistoricisation of the dismal science.
The complex economic problems of the 21st century require a pluralist, real-world oriented and innovative discipline of economics that is capable of addressing and teaching these issues to students. This volume is a state-of-the-art compilation of diverse, innovative and international perspectives on the rationales for and pathways towards pluralist economics teaching. It fosters constructive controversy aiming to incite authors and commentators to engage in fruitful debates. This volume addresses a number of key questions: Why is it important for a social science to engage in pluralistic teaching? What issues does pluralist teaching face in different national contexts? Which traditions and practices in economic teaching make pluralist teaching difficult? What makes economics as a canonical textbook science particular and how could the rigid textbook system be innovated in a meaningful way? What can we learn from school education and other social science disciplines? Through examining these issues the editors have created a pluralist but cohesive book on teaching economics in the contemporary classroom drawing from ideas and examples from around the world. Advancing Pluralism in Teaching Economics offers a valuable insight into the methodology and application of pluralist economics teaching. It will be a great resource for those teaching economics at various levels, as well as researchers.
Microeconomic Principles and Problems offers a comprehensive introduction to all major perspectives in modern economics, including mainstream and heterodox approaches. Through providing multiple views of markets and how they work, it will leave readers better able to understand and analyse the complex behaviours of consumers, firms, and government officials, as well as the likely impact of a variety of economic events and policies. Most principles of microeconomics textbooks cover only mainstream economics, ignoring rich heterodox ideas. They also lack material on the great economists, including the important ideas of Adam Smith, Karl Marx, Thorstein Veblen, John Maynard Keynes and Friedrich Hayek. Mainstream books neglect the kind of historical analysis that is crucial to understanding trends that help us predict the future. Moreover, they focus on abstract models more than existing economic realities. This engaging book addresses these inadequacies. Including explicit coverage of the major heterodox schools of thought, it allows the reader to choose which ideas they find most compelling in explaining modern economic realities. Written in an engaging style focused on real world examples, this ground-breaking book brings economics to life. It offers the most contemporary and complete package for any pluralistic microeconomics class.
The discipline of economics has been increasingly criticized for its inability to illuminate the workings of the real world and to provide reliable policy guidance for the major economic and social challenges of our time. A central problem in contemporary economics, and a problem from which many of its other failings flow, is its lack of plurality. By a lack of plurality it is meant that contemporary economics lacks diversity in its methods, theories, epistemology and methodology. It is also meant that economics has become far less interdisciplinary. From Economics to Political Economy offers an explanation as to why economics has become so determinedly non-pluralistic, and also gives considerable attention to exploring and evaluating promising strategies for reform. These strategies include developing a pluralist economics under the label of 'political economy' within other social science departments (such as departments of politics). Along the way the reader will learn about the worldwide student movement seeking greater pluralism in economics, encounter some dramatic case studies in intellectual suppression, gain a fuller sense of the nature of contemporary economics and explore the relationship between economics and other social sciences. This book is of interest to any social scientist, particularly those with interests in economics and politics.
This volume is concerned with the different schools within the discipline of economics (theoretical pluralism) and the relationship of economics to other disciplines, such as sociology, political science and philosophy (interdisciplinarity). It addresses the important implications of pluralism and interdisciplinarity for teaching economics at both undergraduate and graduate level and argues that the economics curriculum should pay equal attention to these new perspectives rather than concentrate on the traditional neoclassical mainstream. The distinguished contributors highlight the inherent challenges of presenting a combination of mainstream economics with more heterodox approaches in such a way that the student is not confused, but better understands the possibilities and limitations of different schools in economics, how to apply these different approaches, and when the boundaries of the economics discipline have been reached how then a more interdisciplinary approach can be followed. This volume attempts to offer insights into the content of such a revised curriculum and the process of how to achieve this. This book will be required reading for every serious teacher and student of economics. It will also be invaluable to anyone who questions the validity of current economic orthodoxy.