Explorations In Pragmatic Economics

Akerlof's substantial introduction to this volume tells the story of these papers, connecting them and showing how his later work has built upon his early contributions, in many cases improving their arguments, their subtlety, and their usefulness today.

For twenty years since the publication of his seminal paper 'The Market for "Lemons"', George A. Akerlof's work has changed the way we see economics, and the economics of information in particular. In abandoning the perfect-competition benchmarks of classical economics, the pragmatic modern economics championed by Akerlof has provided deep insights into markets, identity, discrimination, motivation, and work, and into behavioural economics in general. This collection of Akerlof's most important papers provide both an introduction to Akerlof's work and a grounding in modern economics. Divided into two broad areas, micro- and macroeconomics, they cover the economics of information; the theory of unemployment; macroeconomic equilibria; the demand for money; psychology and economics; and the nature of discrimination and other social issues. The collection closes with Akerlof's 2001 Nobel Lecture, in which he argues that it is imperative that macroeconomics be considered inherently behavioural. Akerlof's substantial introduction to this volume tells the story of these papers, connecting them and showing how his later work has built upon his early contributions, in many cases improving their arguments, their subtlety, and their usefulness today.

A collection of essays exploring the consequences of making non-standard economic assumptions. Breaking away from traditional economic theory, they cover a wide range of microeconomic and macroeconomic fields as well as anthropology, psychology and sociology.

Annotation. This work bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save.

Interpreting Macroeconomics explores a variety of different approaches to macroeconomic thought. The book considers a number of historiographical and methodological positions, as well as analyzing various important episodes in the development of macroeconomics, before during and after the Keynesian revolution. Roger Backhouse shows that the full richness of these developments can only by brought out by approaches which blend both relativism and absolutism, and historical and rational reconstructions. Examples discussed include Hobson, Keynes and Friedman.

From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.

The impact of Swedish economists on the development of modern economic analysis has been profound. This volume contains twelve essays dealing with various aspects of the development of economics and economic thought from the mid 18th century to the middle of the 20th century. Most of the essays cover the golden age of Swedish economics, the early decades of the 20th century, and deal with such figures as Knut Wicksell, Gustav Cassel, Eli Heckscher, Bertil Ohlin, Erik Lindahl and Erik Lundberg. The book includes a chapter on an unpublished manuscript of Knut Wicksell's which is reproduced in English for the first time

The papers in this volume reflect current trends in international research in pragmatics over recent years. The unique feature of the book is that the authors coming from ten different countries represent all aspects of pragmatics and address issues that have emerged as the result of recent research in pragmatics proper and neighboring fields such as cognitive psychology, philosophy, and communication. Recent theoretical work on the semantics/pragmatics interface, empirical work within cognitive and developmental psychology, intercultural communication and bilingual pragmatics have directed attention to issues that warrant reexamination and revision of some of the central tenets and claims of the field of pragmatics. In addition, cultural changes originating from globalization have affected the relation of language to the wider world. In particular, the spread of English as a global language has led to the emergence of issues of usage, power, and control that must be dealt with in a comprehensive pragmatics of language. Pragmatic theories have traditionally emphasized the importance of intention, rationality, cooperation, common ground, mutual knowledge, relevance, and commitment in the formation and execution of communicative acts. The new approaches to pragmatic research reflected in this volume, while not questioning the central role of these factors, extend the purview of the discipline to allow for a more comprehensive picture of their functioning and interrelationship within the dynamics of communication. The papers address these issues from a variety of directions. In Part I, Searle and Horn examine language use and pragmatics from a philosophical perspective. In Part II, the cognitive aspect of pragmatics is represented in the papers of Moeschler, Ruiz de Mendoza & Baicchi, and Giora. They focus on well-known domains such as illocutionary constructions, the pragmatics of negation, and the relevance-theoretic concept of explicature. However, each paper sheds new light on the familiar concepts. The papers in Part III by Mey, Kecskes and Grundy discuss the intercultural aspects of pragmatics while Terkourafi explores the explanatory potential of an interpretation of Grice's Cooperative Principle. Margerie's and Geeraert & Kristiansen's articles focus on the application of usage-based methodology in different ways within pragmatics.