CART

(0) items

Reassessing the Paradigm of Economics: Bringing Positive Economics Back into the Normative Framework,9780415575119
This item qualifies for
FREE SHIPPING!

FREE SHIPPING OVER $59!

Your order must be $59 or more, you must select US Postal Service Shipping as your shipping preference, and the "Group my items into as few shipments as possible" option when you place your order.

Bulk sales, PO's, Marketplace Items, eBooks, Apparel, and DVDs not included.

Reassessing the Paradigm of Economics: Bringing Positive Economics Back into the Normative Framework

by ;
Edition:
1st
ISBN13:

9780415575119

ISBN10:
0415575117
Format:
Hardcover
Pub. Date:
9/27/2011
Publisher(s):
Routledge
List Price: $135.00

Buy New Textbook

Usually Ships in 3-5 Business Days
N9780415575119
$131.63

eTextbook

Downloadable Offline Access
  • Apple Devices
  • Android Devices
  • Windows Devices
  • Mac Devices
Lifetime Access
$116.11

Rent Textbook

We're Sorry
Sold Out

Used Textbook

We're Sorry
Sold Out

More New and Used
from Private Sellers
Starting at $115.20
See Prices

Questions About This Book?

What version or edition is this?
This is the 1st edition with a publication date of 9/27/2011.
What is included with this book?
  • The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any CDs, lab manuals, study guides, etc.

Summary

When President Reagan and Prime Minister Thatcher adopted the neoliberal doctrine as the paradigm of economics, there was no evidence that the move would have been successful, but thirty years on, the recurrent crises that culminated in 2008 suggest a serious mis-match between expectations and outcomes: a re-examination of the paradigm is in order. This book focuses on Milton Friedman#xE2;#xAC;"s formulation of the neoliberal doctrine, and analyses two aspects that were essential to turning it into a fully-fledged paradigm: the attribution of scientific status to positive economics, which led to informing public policies on the requirements of the market; and the characterisation of economic freedom as capable of promoting political freedom, which led to identifying free market with democracy. The book exposes Friedman#xE2;#xAC;"s methodological argument for attributing positive economics scientific status as a failure, and his characterisation of economic freedom as a delusion; it identifies in the emergence as the mainstream in economics of the neoclassical synthesis, which borrowed from Walras#xE2;#xAC;" the mathematical treatment of equilibrium but not the ethical and social framework in which it was inscribed, a development that facilitated the transition from the Keynesian to the neoliberal paradigm. Dr. Mosini shows that the gigantic bail-outs carried out courtesy of the public purse, which institutionalised the practice of collectivising losses while keeping profits private, were no accident, but the consequence of the rethinking of the function of lender of last resort according to Friedman#xE2;#xAC;"s conception of rationality in relation to risk, combined with his interpretation of the 1930s recession. The book concludes that the neoliberal paradigm has served the interests of the economically powerful social strata it was designed to benefit extremely well, but that the deep, and deepening, injustice it has brought about calls for a complete rethinking of the paradigm of economics according to ethical principles respectful of human values. This book should be of interest to students and researchers of Political Economy, Economic Methodology, History of Economic Thought and Philosophy.


Please wait while the item is added to your cart...