The Puzzle of Modern Economics Science or Ideology 1st Edition by Roger Backhouse – Ebook PDF Instant Download/Delivery: 0521532612, 9780521532617
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Product details:
ISBN 10: 0521532612
ISBN 13: 9780521532617
Author: Roger E. Backhouse
Does economics hold the key to everything or does the recent financial crisis show that it has failed? This book provides an assessment of modern economics that cuts through the confusion and controversy on this question. Case studies of the creation of new markets, the Russian transition to capitalism, globalization, and money and finance establish that economics has been very successful where problems have been well defined and where the world can be changed to fit the theory, but that it has been less successful in tackling bigger problems. The book then offers a historical perspective on how economists have, since the Second World War, tried to make their subject scientific. It explores the evolving relationship between science and ideology and investigates the place of heterodoxy and dissent within the discipline.
Table of contents:
1 Introduction
Why Did No One See It Coming?
The Prosecution
The Defence
How Can They See the Subject So Differently?
Solving the Puzzle
Part I Economics in Action
2 Creating New Markets
Economists and Markets
The U.S. Acid Rain Program
The British 3G Telecom Auction
Markets and Society
3 Creating a Market Economy
The Russian Transition from Socialism to Capitalism
The Consequences
The Role of Economists
4 Globalization and Welfare
Why Globalization?
The World Economy after 1945
Economists and Globalization
Globalization, Inequality and Poverty
Evaluating Globalization
5 Money and Finance
Asset Pricing and Derivatives Trading
Long-Term Capital Management
Monetary Policy – the UK Example
The 2007–8 Credit Crunch
The Theory of Money and Finance in Action
Part II Historical Perspectives
6 Creating a ‘Scientific’ Economics
Economic Science
Arrow, Samuelson and Friedman
Expanding the Scope of Economic Theory
‘Economic Science’ in the 1990s and Beyond
7 The Quest for Rigorous Macroeconomics
From the General Theory to Macro-Econometric Modelling
The Search for Micro-Foundations
Monetarism and the Crisis of the 1970s
Contemporary Macroeconomics
Macroeconomics and the Crisis of 2007–8
8 Science and Ideology
From the Mixed Economy to Free-Markets
Libertarian Economics
The Cold War
Economic Theory and Ideology
9 Heterodoxy and Dissent
The Problem of Dissent in Economics
The Rhetoric of Keynesian Revolution
Dissent before the 1970s
Paradigms and the Emergence of ‘Heterodox’ Economics
Orthodoxy and Heterodoxy in Economics
Part III Evaluation
10 Economic Science and Economic Myth
Three Routes Towards Economic Knowledge
Testing Economic Theories
Knowledge through Theory Alone?
How Economic Models Are Used
Towards a Demythologizing Economic Discourse
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Tags: Roger Backhouse, Puzzle, Modern, Economics