Economics versus Reality
eBook - ePub

Economics versus Reality

How to be Effective in the Real World in Spite of Economic Theory

  1. 336 pages
  2. English
  3. ePUB (mobile friendly)
  4. Available on iOS & Android
eBook - ePub

Economics versus Reality

How to be Effective in the Real World in Spite of Economic Theory

Book details
Table of contents
Citations

About This Book

John M. Legge shows the many ways in which the real world diverges from economics textbooks. He argues that mainstream economic theory took a disastrous turn 140 years ago, when it attempted to use calculus to explain human behaviour. A real economy involves people who are not variables in equations. This error led to a second, mainstream economics becoming obsessed with equilibrium. However, constant change is the reality and one cannot explain the present without understanding the path taken to get here.

This book presents economics in historical context. It includes a short account of the contributions by some of the key figures in economic theory, starting with Adam Smith. Smith placed great weight on morality: he believed that economic activity took place in a society and could not be justified except insofar as it advanced the interests of that society.

Too many economists have come to believe that the interests of society can be measured by a number: that if a policy change raises GDP it is justified, whatever its impact on people.Legge places the economy within society, and society within the environment, explaining that every significant decision has a social and environmental impact, as well as an economic dimension. Seeking to provide answers to students, professional business managers, and those interested in the political process, this work addresses the gap between theory and reality.

Frequently asked questions

Simply head over to the account section in settings and click on “Cancel Subscription” - it’s as simple as that. After you cancel, your membership will stay active for the remainder of the time you’ve paid for. Learn more here.
At the moment all of our mobile-responsive ePub books are available to download via the app. Most of our PDFs are also available to download and we're working on making the final remaining ones downloadable now. Learn more here.
Both plans give you full access to the library and all of Perlego’s features. The only differences are the price and subscription period: With the annual plan you’ll save around 30% compared to 12 months on the monthly plan.
We are an online textbook subscription service, where you can get access to an entire online library for less than the price of a single book per month. With over 1 million books across 1000+ topics, we’ve got you covered! Learn more here.
Look out for the read-aloud symbol on your next book to see if you can listen to it. The read-aloud tool reads text aloud for you, highlighting the text as it is being read. You can pause it, speed it up and slow it down. Learn more here.
Yes, you can access Economics versus Reality by John Legge in PDF and/or ePUB format, as well as other popular books in Economics & Economic Theory. We have over one million books available in our catalogue for you to explore.

Information

Publisher
Routledge
Year
2017
ISBN
9781351295666
Edition
1
Topic
Economics
Subtopic
Economic Theory
Index
Economics

Table of contents

  1. Cover
  2. Half Title
  3. Title Page
  4. Copyright Page
  5. Table of Contents
  6. Preface
  7. Note on Measurements
  8. Acknowledgments
  9. 1 Uses and Abuses of Economics
  10. 2 Names to Reckon With
  11. 3 Competition: Real or Perfect?
  12. 4 Money and Banking
  13. 5 Macroeconomics
  14. 6 Inflation
  15. 7 The Great Recession and the Eurozone Crisis
  16. 8 The Labor Market
  17. 9 The Engine of Growth
  18. 10 Investment
  19. 11 Externalities and Public Goods
  20. 12 Intervention and Laissez-Faire
  21. 13 Corporations
  22. 14 After Neoliberalism
  23. Bibliography
  24. Index