Economic crisis and economic thought : alternative theoretical perspectives on the economic crisis / edited by Tommaso Gabellini, Simone Gasperin and Alessio Moneta.

Format:

Book

Contributor:

Gabellini, Tommaso, 1990- editor.

Gasperin, Simone, 1990- editor.

Moneta, Alessio, editor.

Series:

Routledge studies in the history of economics.

Routledge studies in the history of economics

Language:

English

Subjects (All):

Financial crises.

Financial crises--Political aspects.

Economic policy.

Physical Description:

1 online resource (315 pages).

Edition:

1st ed.

Place of Publication:

Abingdon, Oxon ; New York, NY : Routledge, 2019.

Summary:

The ongoing economic crisis has revealed fundamental problems both in our economic system and the discipline which analyses it. This book presents a series of contrasting but complementary approaches in economic theory in order to offer a critical toolkit for examining the modern capitalist economy. The global economic crisis may have changed the world in which we live, but not the fundamental tenets of the discipline. This book is a critical assessment of the relation between economic theory and economic crises: how intellectual thinking impacts on real economic events and vice versa. It aims at challenging the conventional way in which economics is taught in universities and later adopted by public officials in the policymaking process. The contributions, all written by distinguished academics and researchers, offer a heterodox perspective on economic thinking and analysis. Each chapter is inspired by alternative theoretical approaches which have been mostly side-lined from current academic teaching programmes. A major suggestion of the book is that the recent economic crisis can be better understood by recovering such theoretical analyses and turning them into a useful framework for economic policymaking. Economic Crisis and Economic Thought is intended as a companion to economics students at the Master's and PhD level, in order for them to confront issues related to the labour market, the financial sector, macroeconomics, industrial economics, etc. with an alternative and complementary perspective. It challenges the way in which economic theory is currently taught and offered via alternatives for the future.

Contents:

Cover; Half Title; Series Page; Title Page; Copyright Page; Table of Contents; List of figures; List of tables; List of contributors; Foreword; Introduction: escaping from the economics cave; 1. A Janus-faced crisis; 2. Plato against the economists; 3. Shadow economic theory versus real economic phenomena; 4. Economic models as modern simulacra; 5. The old is dying, but . . .; 6. Our economics menu; 7. Looking for the light at the end of the . . . cave; Notes; PART I: Alternative methodologies; Chapter 1: Critical dilemmas in the methodology of economics facing the crisis; 1. Introduction

2. The dilemma of causality3. More dilemmas; 4. Concluding remarks; Acknowledgments; Notes; References; Chapter 2: "Anti-Blanchard": a comparative technique for macroeconomics; 1. Signals of crisis in the 'core' of contemporary macroeconomics; 2. Rediscovering a comparative approach to economic theory and policy; 3. "Anti-Blanchard": a comparative approach in the sphere of teaching; 4. Further comparisons between alternative paradigms: monetary policy rules; 5. Which paradigm fits better with the data? Some empirical tests; References; PART II: Alternative theories

Chapter 3: The originality of the Italian debate on Marx1. Value and the falling rate of profit: Croce and Gramsci; 2. Traditional Marxism: Dobb, Sweezy and Meek; 3. Abstract labour as a "real abstraction": Lucio Colletti; 4. Value and prices of production: Pierangelo Garegnani, Marco Lippi and Fernando Vianello; 5. Value and the social relations of production: Claudio Napoleoni; 6. Logic and history in Capital: Cesare Luporini; 7. The method of presentation in Capital: Lorenzo Calabi and Alessandro Mazzone; 8. Value and the transformation as a pseudo-problem: Rodolfo Banfi

9. Value and social need: Guido Carandini and Sandra Caliccia10. Between Ricardo and Keynes: Giorgio Lunghini, Alessandro Roncaglia and Marcello Messori; 11. Value and the monetary circuit: Augusto Graziani; 12. Crisis theory: Claudio Napoleoni and Mariano D'Antonio; 13. The renewal of the debate in the 1990s; 14. Conclusions; Notes; References; Chapter 4: What capital theory can teach us; 1. The classical conflict-based view of wage determination; 2. The neoclassical picture: capitalism as a fair and efficient cooperation of sacrifices; 3. Differences between the two approaches

4. Surmounting a weakness of the classical approach5. Capital goods are different from lands; 6. Capital: the single factor of variable 'form', and long-period equilibria; 7. Reswitching; 8. Reverse capital deepening; 9. The shift to neo-Walrasian equilibria; 10. Alternatives; Further reading on capital theory; Appendix; Notes; References; Chapter 5: The modern revival of the Classical surplus approach: implications for the analysis of growth and crises; 1. Introduction; 2. Pills of the surplus approach; 3. Macroeconomic implications: capital accumulation, money and crisis

Notes:

Description based on print version record.

ISBN:

1-317-21549-4

1-315-61995-4

1-317-21548-6

9781315619958

OCLC:

1055566261