List of Tables, Figures, and Boxes | |
Preface | |
Acknowledgements | |
Note to Instructors | |
Philosophical Debates in Economics | |
A Riddle | |
Paradigms in Economic Theory (or Why Economists Disagree) | |
Some Study Questions | |
Learning New Paradigms | |
Conclusion: Some Implications of a Paradigmatic Theory of Knowledge for Social Science and Economics | |
Final Questions for Discussion | |
Notes | |
Thinking Differently: Neoclassical Versus Heterodox Economics: Texts, Subtexts and Basic Orientations | |
Introduction and Chapter Overview | |
Weil-Being | |
Implied Readers | |
Methodological Individualism (MI) Versus Holism (H) | |
Texts and Subtexts in Economics | |
Study Questions | |
Notes | |
Competing Assumptions, Methods, and Metaphors | |
Introduction | |
Methodological Critiques | |
Threads | |
Telling Other Stories: Heterodox Critiques of Neoclassical Metaphors and Stories | |
Study Questions | |
Notes | |
New Beginnings: Heterodox Critiques of the Introductory Chapters in Neoclassical Principles Texts | |
Introduction | |
Is Neoclassical Economic Theory a Science? | |
The Positive/Normative Distinction | |
What Is Economics? | |
The Limits of Scarcity and Efficiency Discourse | |
Marginalism | |
The Ceteris Paribus (All Things Equal) Assumption | |
The Circular Flow: Directions | |
Some Loud Silences | |
Textbook Images and Metaphors | |
Some Alternative Heterodox Images | |
Threads | |
Study Questions | |
Notes | |
Reintroducing Supply and Demand: A Heterodox Micro Foundation for Macroeconomics | |
Introduction | |
Disequilibrium Critiques | |
Heterodox Critiques of Textbook Demand and Supply Curves | |
Conclusion | |
In Their Own Words | |
Study Questions | |
Notes | |
From Micro to Macro Analysis: Heterodox Critiques of the Initial Macro Chapters in Principles Texts | |
Introduction | |
Keynes and the History of Macroeconomics | |
Macro-Micro Distinction | |
Topics and Concerns for Macroeconomics | |
The confusing world of Aggregate Supply and Aggregate Demand: Two Curves in Search of a Theory | |
Conclusion | |
In Their Own Words | |
Study Questions | |
Notes | |
Remeasuring Economic Activity: Heterodox Critiques of GDP Accounting | |
Introduction | |
GDP: The Textbooks' Yardstick | |
Inadequacies of GDP as a Measure of Economic Well-Being | |
Neoclassical Responses to Heterodox Concerns: "Déjà Vu All Over Again": Note but Ignore Motif | |
Heterodox Rebuttals | |
Alternative Indicators of Economic Performance | |
Conclusion | |
Study Questions | |
Notes | |
Remeasuring Economic Activity: Labor Marketand Inflation Statistics | |
Introduction | |
The Cost of Unemployment | |
Price Indices | |
Threads | |
Conclusion: The "So What" Question | |
Study Questions | |
Notes | |
Reintroducing Aggregate Demand | |
Introduction | |
Reencountering Keynes | |
Intermission: A Break for Discussion | |
Erosion of Keynesian Theory | |
The Keynesian Cross | |
Textbook and Heterodox Discussions of Consumption | |
The Savings Function | |
Investment | |
Threads | |
Competing Metaphors and Stories | |
Conclusion | |
In Their Own words | |
Study Questions | |
Notes | |
Reintroducing Money: Basic Concepts | |
Introduction and Overview | |
The Implications of Uncertainty | |
The "Monetized" Nature of a Capitalist Economy | |
Beyond Homo Economicus | |
Institutions and "Misplaced Concreteness" | |
Distributional Issues | |
Study Questions | |
Notes | |
Applications of Heterodox Monetary Theory | |
Introduction | |
Financial Markets | |
The Fed | |
Policy Implications | |
Threads | |
Competing Stories and Metaphors | |
In Their Own Words | |
Study Questions | |
Notes | |
Reintroducing Aggregate Supply and Aggregate Demand | |
Introduction: Two Curves in Search of a Theory | |
Review of Standard Textbook Treatments of AS-AD | |
Overview of Heterodox Critiques of the AS-AD Framework | |
Heterodox Critiques of Textbook AD Curves | |
Keynesian and Other Heterodox Critiques of Textbook AS Curves | |
Gaps and Overlaps Between Textbook and Heterodox Theory | |
Policy Implications | |
Conclusion | |
Study Questions | |
Notes | |
Heterodox Alternatives to the AS-AD Framework | |
Introduction | |
Circuits of Capital Approach | |
Social Structures of Accumulation (SSA) | |
Threads | |
Competing Metaphors | |
In Their Own Words: Heterodox Critiques of Textbook Treatments of Aggregate Supply and Aggregate Demand | |
Study Questions | |
Notes | |
Reintroducing International Economic Issues | |
Introduction | |
Textbook Principles of International Economics | |
Overview of Heterodox Critiques | |
Heterodox Critiques: Misplaced Concreteness | |
Heterodox Critiques: Distributional Issues | |
Heterodox Critiques: Dynamic Versus Static Analysis | |
Heterodox Critiques: Uncertainty and Financial Markets | |
Heterodox Critiques: Sluggish Price Adjustments and Insufficient Aggregate Demand | |
Heterodox Critiques: Meta-Externalities | |
Threads: Trade and the Environment | |
Threads: Distribution | |
Threads: Gender | |
Alternative Images and Competing Metaphors | |
Conclusion | |
In Their Own Words | |
Study Questions | |
Notes | |
Reintroducing the Macroeconomics of Inequality | |
Introduction | |
Measuring Inequality: "Lies, Damn Lies, and Statistics" (Benjamin Disraeli) | |
Poverty: Definition, Measurement and Significance | |
Racial and Gender Inequalities | |
Taxes and Inequality | |
International Comparisons | |
Measuring Social Mobility | |
Intermission | |
The Macroeconomics of Inequality | |
Why Did Inequality Increase from 1973-2003? | |
Policy Responses to Inequality | |
Threads: Gender | |
Threads: Environmental Issues | |
Conclusion | |
In Their Own Words | |
Final Study Questions | |
Notes | |
Reintroducing Macroeconomics and the Environment | |
Introduction | |
The Neoclassical Model of Environmental Economics | |
Fundamental Problems with Neoclassical Environmental Economics | |
Economic Growth and Environmental Quality | |
Equity and Environmental Economics | |
"Social Logics" and the Environment | |
Conclusion: Point and Counterpoint | |
In Their Own Words | |
Study Questions | |
Notes | |
Reintroducing Current Policy Debates in Macroeconomics | |
Introduction | |
Textbook Portrayals of Policy Debates: GE and Keynesian Positions | |
Heterodox Alternatives | |
Heterodox Expansion of Policy Agendas | |
Structuralist Macroeconomics: Macro Regimes and Macro Policy | |
Threads: Distributional Issues | |
Threads: Gender Issues | |
Threads: Environmental Issues | |
Competing Metaphors | |
In Their Own Words | |
Study Questions | |
Notes | |
Conclusion: Rethinking Macroeconomics-Heterodox Versus Textbook Economics | |
Introduction | |
Textbook Macroeconomics | |
Heterodox Macroeconomics | |
Textbook Responses to Heterodox Critiques | |
Heterodox Rejoinders | |
Conclusion | |
Study Questions | |
Further Reading | |
Notes | |
Glossary | |
Works Cited | |
Index | |
About the Author | |
Table of Contents provided by Ingram. All Rights Reserved. |