Critical Theory And Economics

Subversive thought is none other than the cunning of reason when confronted with a social reality in which the poor and miserable are required to sustain the illusion of fictitious wealth. Yet, this subsidy is absolutely necessary in existing society, to prevent its implosion. The critique of political economy is a thoroughly subversive business. It rejects the appearance of economic reality as a natural thing, argues that economy has not independent existence, expounds economy as political economy, and rejects as conformist rebellion those anti-capitalist perspectives that derive their rationality from the existing conceptuality of society. Subversion focuses on human conditions. Its critical subject is society unaware of itself. This book develops Marx's critique of political economy as negative theory of society. It does not conform to the patterns of the world and demands that society rids itself of all the muck of ages and founds itself anew.

We live in critical times. We face a global crisis in economics and finance, a global ecological crisis, and a constant barrage of international disputes. Perhaps most dishearteningly, there seems to be little faith in our ability to address such difficult problems. However, there is also a more positive sense in which these are critical times. The world's current state of flux gives us a unique window of opportunity for shaping a new international order that will allow us to cope with current and future global crises. In Critical Theory in Critical Times, eleven of the most distinguished critical theorists offer new perspectives on recent crises and transformations of the global political and economic order. Essays from Jürgen Habermas, Seyla Benhabib, Cristina Lafont, Rainer Forst, Wendy Brown, Christoph Menke, Nancy Fraser, Rahel Jaeggi, Amy Allen, Penelope Deutscher, and Charles Mills address pressing issues including international human rights and democratic sovereignty, global neoliberalism, novel approaches to the critique of capitalism, critical theory's Eurocentric heritage, and new directions offered by critical race theory and postcolonial studies. Sharpening the conceptual tools of critical theory, the contributors to Critical Theory in Critical Times reveal new ways of expanding the diverse traditions of the Frankfurt School in response to some of the most urgent and important challenges of our times.

This bold and ambitious book attempts to diagnose and remedy what is wrong with economics, so that it can become an emancipatory form of knowledge. It will be of interest to serious economists and philosophers of social science everywhere.

This book expands upon a range of economic insights within the overall context of critical theory, particularly with respect to the question of socioeconomic inequalities, and presents an explanation of how critical theory provides a number of interesting perspectives for economists. Economic agents, deliberately imprisoned in their instrumental rationality as a means to survive under competitive relationships, are microscopic constituents of systemic forces which exist beyond their will. Despite the subjective rationality of such agents in terms of formally logical transitivity and consistency, aggregate market distributional mechanisms also display non-rational patterns. The crucial aspect of the dynamics of this system consists of the paralysing effect of the high level of socioeconomic inequality, which is driven by a permanent struggle for self-preservation under competitive rules; it is a reminiscence of natural, uncivilised relationships that constituted the reproduction process of the whole. These reified agents thus become instruments of their socially constructed powers on the one hand, and objects of their existential conditionality on the other. Hence, the dialectical approach adopted by the author aims to uncover the way in which structurally genetic market forces govern individual behaviour, as well as how individual behaviour shapes these structurally genetic forces, which, together, form the transcending principles of unequal distribution. This book will be of particular interest to scholars of the political economy, philosophy and the methodology of the social sciences, especially those concerned with inequality issues. This book includes a preface written by Professor Martin Jay.

The theory of capitalism and of the economic order is the central topic of the German economic tradition in the 20th century. Capitalism has not only been the topic for Marxist economics and for the Frankfurt School but also for the Historical School and for the postmarxist theory of capitalism in Ordo- and Neo-Liberalism as well as in Solidarism. The question of the foundations of the economic order of the market economy and of capitalism as well as the problem whether a third path between capitalism and social ism is possible occupied this tradition from the Historical School to Ordo Liberalism and the theory of the social market economy. The theory of capitalism and of the social market economy as well as the critique and reform developed in this theoretical tradition is important for the theory of economic systems as well as for today's problems of the eco nomic order. Its relevance for the present world economy is visible in the discussions whether there exist different models of capitalism and whether they can be described as the Anglo-American and as the Rhenish model of capitalism influenced by the thought of the German economic tradition. Michel Albert, the author of this classification, gave the key-word in his book Capitalism against Capitalism. The papers of this book can help to clarify this debate by giving a first hand introduction to some of the main economic thinkers of capitalism.

Reconfigurations is a wide-ranging exploration of contemporary critical theory and of the forces that have transformed the classical modes of thought dominating Western theory from its beginnings. The book associates these transformations with Georges Bataille's idea of general economy, which relates its objects to the loss of meaning - a loss regarded as ineluctable within any given system. General economy, primarily in Nietzsche, Bataille, and Derrida, is compared with classical theories or restricted economies, which configure their objects as always meaningful and which claim to avoid the unproductive expenditure of energy and to contain multiplicity and indeterminacy within them. General economy exposes such claims as finally untenable, as we see here in great detail. Reconfigurations proposes complementarity as a critical model which can work out of general economy. This model is drawn from Niels Bohr's interpretation of quantum mechanics, where it accounts for the indeterminacy of quantum systems and,describes their conflicting aspects without subjecting them to classical synthesis. The book mutually enriches and develops both ideas - general economy and complementarity - within a comprehensive historical and theoretical framework, thus enabling the reader to see how general economy operates in and transforms the landscape of modernity and postmodernity. Proceeding from extensive consideration of the works of Nietzsche, Bataille, Derrida, Kant, Hegel, Marx, Freud, Heidegger, Althusser, Lyotard, Jameson, and commentaries on these authors, Reconfigurations offers both a cohesive overview of contemporary theory and a demonstration of this theory at work. The analysis of narrativethrough the idea of play and a juxtaposition of Nietzsche's and Derrida's discourse by way of Freud's notion of interminable analysis are only two of many fresh readings and examinations presented here. In contesting the bound

The purpose of this series is to help make contemporary European philosophy intelligible to a wider audience in the English-speaking world, and to suggest its interest and importance in particular to those trained in analytical philosophy.

"Subversive thought is none other than the cunning of reason when confronted with a social reality in which the poor and miserable are required to sustain the illusion of fictitious wealth. Yet, this subsidy is absolutely necessary in existing society, to prevent its implosion. The critique of political economy is a thoroughly subversive business. It rejects the appearance of economic reality as a natural thing, argues that economy has not independent existence, expounds economy as political economy, and rejects as conformist rebellion those anti-capitalist perspectives that derive their rationality from the existing conceptuality of society. Subversion focuses on human conditions. Its critical subject is society unaware of itself. This book develops Marx's critique of political economy as negative theory of society. It does not conform to the patterns of the world and demands that society rids itself of all the muck of ages and founds itself anew"--