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Power and Neoclassical Economics

A Return to Political Economy in the Teaching of Economics

Authors: Ozanne, A.

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  • Reasserts the role of power in determining economic outcomes
    Reviews definitions of theories and power from across the social sciences
    Radically reassesses economic orthodoxy

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eBook $54.99
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  • ISBN 978-1-137-55373-7
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Hardcover $69.99
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  • ISBN 978-1-137-55372-0
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About this book

Mainstream economics almost completely ignores the role power plays in determining economic outcomes, which means it can only provide partial explanations of the distribution of wealth and income, and of the problems associated with inequality and poverty. For many, this is a fundamental failing that severely limits its relevance to the real world and is the source of much dissatisfaction with, and cynicism about, economics and economists. Ozanne explains how this neglect of power has come about over the past 150 years and why it is important. He reviews various definitions and theories of power from across the social sciences and proposes a new approach that could bring considerations of power back into standard economic theory and economics teaching. The approach is simple and intuitive, involving little more than re-envisioning the social welfare function as a 'political economy function'. However, if adopted in economics teaching, it could radically change the way young economists are taught to think about economic problems and lead to a 'return to political economy'.

About the authors

Adam Ozanne has degrees in physics and astronomy, rural development, and agricultural economics. He also began a DPhil in nuclear astrophysics but abandoned it and went instead to teach maths and physics in Pakistan and work for a Third World development agency. He is now a Senior Lecturer teaching economics at the University of Manchester, UK.

Table of contents (11 chapters)

Table of contents (11 chapters)

Buy this book

eBook $54.99
price for USA (gross)
  • ISBN 978-1-137-55373-7
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $69.99
price for USA
  • ISBN 978-1-137-55372-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
Power and Neoclassical Economics
Book Subtitle
A Return to Political Economy in the Teaching of Economics
Authors
Copyright
2016
Publisher
Palgrave Macmillan UK
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-1-137-55373-7
DOI
10.1057/9781137553737
Hardcover ISBN
978-1-137-55372-0
Edition Number
1
Number of Pages
VIII, 101
Topics