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• Author/Creator:Beker, Víctor A., author.
  
• Title:Economic theory for the real world / Victor A. Beker.
  
• ISBN:9781032498546
  1032498544
  9781032498553
  1032498552
  9781003395799
  
• Publication:Abingdon, Oxon ; New York, NY : Routledge, 2024.
  
• Physical Description:xi, 159 pages ; 24 cm.
  

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  • Location:MARX LIBRARY
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  • Call Number: HB171 .B367 2024 (LC)
    
  • Status:Not Checked Out
    

   
• Summary:"After the Great Financial Crisis economic theory was fiercely criticized from both outside and inside the discipline for being incapable of explaining a crisis of such magnitude. Slowly but persistently, new strands of economic thought are developing, to replace the old-fashioned neoclassical economic theory, which have a common characteristic: they are better suited to help understand the real-world economy. This book explores the key tenets and applications of these. The book opens with an explanation of the 'real world' approach to economics in which theoretical models resemble real world situations, realistic assumptions are made, and factors such as uncertainty, coordination problems and bounded rationality are incorporated. Additionally, the book explores the ramifications of considering the economy as both a dynamic system - with a past, present and future - as well as a complex one. These theoretical precepts of the real world economy are then applied to some of the most pressing economic issues facing the world today including ecological sustainability, the rise of corporate power, the growing dominance of the financial world, and rising unemployment, poverty and inequality. In each case, the book reveals the insights of the shortcomings of the neoclassical approach which fails to illuminate the complexities behind each issue. It is demonstrated that, by contrast, adopting an approach grounded in the real world has the power to produce policy proposals to help tackle these problems. This book is essential reading for anyone seeking a deeper understanding of the economy, including readers from economics and across the social sciences"--
  
• Other formats:Online version: Beker, Víctor A. Economic theory for the real world Abingdon, Oxon ; New York, NY : Routledge, 2024
  
• Format:Book
• Series:Routledge frontiers of political economy
  Routledge frontiers of political economy.
  
• BibliographyIncludes bibliographical references and index.
  
• Contents:The real-world approach -- The economy as an evolving dynamical system -- Complexity economics -- Ecological sustainability -- Firms do have market power and information matters -- Unemployment equilibrium -- The government as employer of last resort -- The role of finance in the real-world economy -- Poverty and inequality -- From international trade to globalization and deglobalization -- Ideology and economics -- Conclusions.
  
• Subjects:Economics.
  Ecology--Economic aspects.
  Neoclassical school of economics.
  economics.
  Ecology--Economic aspects.
  Economics.
  Neoclassical school of economics.