The Principles of Economics: Some Lies my Teacher Told Me

by Boland; Lawrence

• ISBN13: 9780415132084
• ISBN10: 0415132088
• Format: Nonspecific Binding
• Copyright: 1995-10-24
• Publisher: Routledge

Summary

The Principles of Economicswill help a new generation of economists to overcome the traditional economic metaphysics, exploring the central questions by-- hopefully--more testable, realistic concepts. This book is about forming effective critiques of neoclassical economics. Its focus is on constructive criticism of the foundations of neoclassical theory, beginning with what Alfred Marshall called the 'Principles of Economics'. It concludes that there is still much that can be done to make neoclassical economics more realistic.

Author Biography

Lawrence A. Boland is Professor of Economics at Simon Fraser University.

Table of Contents

Preface
Acknowledgements
Prologue: Understanding neoclassical economics through criticism
The essential elements
The neoclassical maximization hypothesis	p. 11
Marshall's 'Principles' and the 'element of Time'	p. 21
Marshall's 'Principle of Continuity'	p. 39
Axiomatic analysis of equilibrium states	p. 48
Axiomatic analysis of disequilibrium states	p. 64
Some neglected elements
Knowledge in neoclassical economic theory	p. 91
A naive theory of technology and change	p. 105
Knowledge and institutions in economic theory	p. 112
Some missing elements
The foundations of Keynes' methodology	p. 131
Individualism without psychology	p. 147
Methodology and the individual decision-maker	p. 153
Some technical questions
Lexicographic orderings	p. 165
Revealed Preference vs Ordinal Demand	p. 177
Giffen goods vs market-determined prices	p. 196
Epilogue: Learning economic theory through criticism	p. 213
Bibliography	p. 217
Name index	p. 225
Subject index	p. 227
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