By Noyes A.A., Wilson H.A.
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Includes bibliographical references and index. 1. Economics—Study and teaching (Higher) 2. Economics. I. Title. L39 2015 330—dc23 2014036834 ISBN: 978-1-138-85101-6 (hbk) ISBN: 978-1-138-85102-3 (pbk) ISBN: 978-1-315-72441-6 (ebk) Typeset in Palatino by RefineCatch Limited, Bungay, Suffolk To Julien and Chloe Contents Preface Acknowledgements 1 Continuing myths and fallacies of modern economics 2 Modern economics: the problem and a solution 3 The nature of heterodox economics 4 What is this ‘school’ called neoclassical economics?
Economics too has its more basic concerns. These include such matters as social relations, collective practices, social positions, community, capitalism, money, corporations, technology, gender, rights, obligations, human nature, care, trust, crises, economy, and so forth. Yet most economists, if inevitably occasionally referencing such categories, do rarely investigate their nature. However, it is impossible to provide much insight without at least some understanding of the nature of both social being in general and also the specific social phenomena being ‘theorised’.
The financial crisis has not only revealed weaknesses of the capitalist economy but also highlighted just how limited and impoverished is modern academic economics. Despite the failings of the latter being more widely acknowledged now than ever, there is still an enormous amount of confusion about their source and true nature. In this collection, Tony Lawson also identifies the causes of the discipline’s failings and outlines a transformative solution to its deficiencies. Amongst other things, Lawson advocates for the adoption of a more historical and philosophical orientation to the study of economics, one that deemphasizes the current focus on mathematical modelling while maintaining a high level of analytical rigour.