Overview
- Presents an innovative challenge to mainstream economics questioning both its validity and relevance as a social theory
- Introduces original research based on other disciplines to formulate an alternative conceptual framework for economic analysis
- Seeks to re-establish economics as a genuine social discipline which is more in line with classical economics from which modern economics has been a dramatic and unwarranted departure
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Table of contents (4 chapters)
Keywords
- Social and economic organisation
- Competitive decentralisation
- Human sociality
- Natural liberty
- Modern economics
- Liberal classical economics
- Mainstream economics
- Classical economics
- Self-regulating systems
- Natural liberty
- Sophistry of growth
- Material wellbeing
- Economic markets
- Civic society
- Rationality of agents
- Socioeconomics
- Adam Smith
About this book
Whilst Volume I looks at how economics’ paradigmatic core betrayed us by its false promise, Volume II begins to consider whether the current status quo may in fact be a result of the way in which the academic community have instead betrayed economics. Starting with an exploration into the nature of human sociality and what the notion of the ‘individual’ means in both liberal classical and modern economics, the author moves on to address the organisational implications of these conclusions using the concept of ‘social distance’. He then considers whether modern economics can accommodate such sociality whilst maintaining the same organisational principle of competitive decentralisation as the universal recipe for economic organisation. The text concludes by examining whether the fault can be found in the misconception of modern economics as a linear intellectual progression from liberal classical economics. This is done through a novel re-examination of liberal classical economics by developing Adam Smith’s theory to answer such questions.
This is a bold and foundational new work that offers an original and innovative perspective on economics and its challenges, addressing core areas such as behavioural economics, evolutionary game theory andlinks between social sciences (anthropology, philosophy) and neurosciences.
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About the author
Bibliographic Information
Book Title: The Betrayal of Liberal Economics
Book Subtitle: Volume II: How We Betrayed Economics
Authors: Amos Witztum
DOI: https://doi.org/10.1007/978-3-030-10671-3
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature 2019
Hardcover ISBN: 978-3-030-10670-6Published: 29 April 2019
eBook ISBN: 978-3-030-10671-3Published: 11 April 2019
Edition Number: 1
Number of Pages: XI, 434
Number of Illustrations: 7 b/w illustrations, 42 illustrations in colour
Topics: Economic Theory/Quantitative Economics/Mathematical Methods, History of Economic Thought/Methodology, Economic History, Political Philosophy, Sociology, general