The Delusions of Economics :The Misguided Certainties of a Hazardous Science ( 1 )

Publication subTitle :The Misguided Certainties of a Hazardous Science

Publication series :1

Author: Rist   Gilbert;Camiller   Patrick  

Publisher: Zed Books‎

Publication year: 2011

E-ISBN: 9781848139244

P-ISBN(Paperback): 9781848139237

Subject: F0-0 Marxisms Plutonomy (GENERAL);F06 A branch of economics science

Keyword: 经济学分支科学,马克思主义政治经济学(总论),经济学

Language: ENG

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Description

In The Delusions of Economics, Gilbert Rist presents a radical critique of neoclassical economics from a social and historical perspective. Rather than enter into existing debates between different orthodoxies, Rist instead explores the circumstances that prevailed when economics was invented, and the resultant biases that helped forge the construction of economics as a science. In doing so, Rist demonstrates how these various presuppositions are either obsolete or just plain wrong, and that traditional economics is largely based on irrational convictions that are difficult to debunk due to their religious nature. As a result, we are prevented from properly understanding the world around us and dealing with the financial, environmental, and climatic crises that lie ahead. Provocative and original, this essential book provides incontrovertible proof that the construction of a new economic paradigm - pluralistic, ecologically compatible, grounded in reality - has now become a necessity.

Chapter

1 Economics between History and Anthropology

The trap of autonomous disciplines

Changing the optic

From reductionism to complexity

2 A Failed Scientific Ambition

The triumph of mechanics

Thermodynamics and the irreversibility of time

The impotence of economic ‘reason’

3 Homo Oeconomicus: A Dangerous Phantom

The unlocatable individual

How to construct society?

The tautologies of methodological individualism

4 Exchange

The right words for it

Prescription or proscription

Giving, receiving and giving back

Market exchange or inverted logic

Do the axioms of self-interest serve the interests of exchange partners?

5 The Fairy Tale of Scarcity

The two faces of scarcity

The means of abundance

How to conquer violence in society?

The dual paradox

6 Utility and Futility

Questions for Jeremy Bentham

How to define utility?

Reductionist assumptions

7 Equilibrium

The Walrasian model

8 The Growth Obsession

What economic ‘science’ has chosen to exclude

National accounting and the invention of GDP

The growth obligation and its consequences

9 Growth Objection

Actually occurring ‘degrowth’

Avoiding the economic trap

‘Sustainable development’ or another model?

What about the well-being of the South?

10 Economic ‘Science’ as Religion

From Émile Durkheim to Louis Dumont

Naturalist dogmas

The self-immunization of economic religion

11 Towards a New Paradigm?

Heterodoxy as the solution?

The diversity of economic forms

The Newtonian impasse

Conclusion

A look back at the origins of the crisis

Polanyi is back

Changing everything so that it remains the same

The blindness of ordinary economics

Hopes of change?

Critique as the precondition of a new paradigm

Bibliography

Index

About Zed Books

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