Pluralist Readings In Economics Key Concepts And Policy Tools For The 21st Century

The era of globalization has brought about unprecedented social, political, and environmental challenges for policy makers around the world due to the global impact of economic decisions. In view of these challenges, economics, as a discipline, needs to be taught with the goal of broadening the dialogue on social responsibility, and developing a new pluralist culture of decision making which is inclusive to different schools of economic thought. Pluralist Readings in Economics: Key-concepts and policy tools for the 21st century highlights the long-standing debates regarding economic systems, business models, criteria of justice, and economic policies by providing conceptual openings to economic theory in an engaging and accessible way. The author provides broad coverage of relevant topics through the selection of influential economic thinkers and introduces the reader to their ideas, context, and relevant interpretations. While dealing with complex problems, the author goes beyond commonly known concepts by presenting questions on the historical context of globalization. The study of economic concepts in this way leads to asking new questions concerning various issues relevant to economics. The goal of the text is to provide an interdisciplinary perspective to readers in order to equip them with information that is key to address global economic challenges. Thus, this pluralist approach calls for a reflection of the evolution of global social and economic conditions to demonstrate problem solving approaches that align with the goal of addressing these challenges. Pluralist Readings in Economics: Key-concepts and policy tools for the 21st century is suitable to a broad interdisciplinary readership as it will benefit all those who seek to better understand the complex stakes of the capitalist system, in the tensions between regulatory policies, free market equilibria, and participatory openings in governance. This introductory work also prepares the reader for debates and discussion in economic theory aimed at shaping policy transformations towards a more equitable, just and sustainable world.

The concept of "nudging" has hit news headlines in recent years following the implementation of nudge policies in many parts of the world, the establishment of behavioural policy units in some countries, and the award of the Nobel Prize in Economics to the behavioural economist Richard Thaler in 2017. However, questions remain about whether nudging is an optimal approach to policy-making. This book presents a critical approach to the study of nudging to highlight the foundations, rationale and effects of current policy-making trends in the neoliberal age of behavioural economics. In this provocative book, the author presents a re-examination of the methodological foundations of behavioural economics and its consequences for addressing the deep social and economic policy challenges of our times. It is argued that, although the concept of nudge proposed by Richard Thaler and Cass Sunstein rejects the theorization of economic behaviour under models of strict rationality, nudge policies focus on methodological individualism in economic thinking and economic policy. The complexity of social and economic policy problems of the twenty-first century calls for a revision of our conceptual outlooks, and to increase recognition of the failure of methodological individualism in economics to address the unprecedented social, political, and environmental challenges of globalization. Offering a new take on the epistemological assumptions underlying behaviourally-informed policies, this book will prompt the general public to consider new ideas about the darker side of behavioural economics.

Economists in the post-Cold War era are increasingly circumspect about universal, one-size-fits-all conceptions of human behaviour and economic institutions. Contemporary economics is thus marked by a nascent pluralism. Economic Pluralism brings these pluralist sensibilities to the fore. Its twenty original essays explore the positive potential and critical limits of pluralism in economic theory, philosophy, institutions, and policies, and education. These twenty original essays reflect the maturity and breadth of pluralist scholarship in economics today. The first eight chapters (including critical essays by Tony Lawson, Diana Strassmann et al., Frederic Lee, and David Colander) stake out contentious positions on the value of pluralism in economic theory and philosophy. The remaining chapters explore the meaning and consequences of pluralism in economic education, institutions, and policies. This volume provides a unique "second generation" discussion of pluralism in economics. Its twenty original essays stake out contentious positions on pluralism in economic theory, philosophy, institutions, and policies, and education, reflecting multiple generations and traditions of thought. It is a volume certain to spur wider conversation about the scope and value of economic pluralism for the 21st century. This volume would be of most interest as a supplementary text for graduate or undergraduate courses that include units on heterodox economics or economic philosophy.

"Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory. The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment, and the regularity of economic/financial crises. The authors examine potential policy responses such as modern monetary theory, models of public ownership and the need to move beyond standard concepts of growth. They also explore the deficiencies of orthodox economics, and contend that a more pluralist approach to economics is required in the public sphere, in academia, and in the classroom in order to help face the challenges of the 21st Century. This book is invaluable reading for students and scholars across the social sciences who are interested in alternatives to mainstream economic thinking. Arturo Hermann is Primo Ricercatore at the Italian National Institute of Statistics (ISTAT), Italy. Simon Mouatt is Emeritus Associate Professor in Economics at Solent University, UK"--

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Americans are debating the proper role of the government in company bailouts, the effectiveness of tax cuts versus increased government spending to stimulate the economy, and potential effects of deflation. Economists have dealt with such questions for generations, but they have taken on new meaning and significance. Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is intended to meet the needs of several types of readers. Undergraduate students preparing for exams will find summaries of theory and models in key areas of micro and macroeconomics. Readers interested in learning about economic analysis of an issue as well students embarking on research projects will find introductions to relevant theory and empirical evidence. And economists seeking to learn about extensions of analysis into new areas or about new approaches will benefit from chapters that introduce cutting-edge topics. To make the book accessible to undergraduate students, models have been presented only in graphical format (minimal calculus) and empirical evidence has been summarized in ways that do not require much background in statistics or econometrics. It is thereby hoped that chapters will provide both crucial information and inspiration in a non-threatening, highly readable format.

An Institutional Framework for Policymaking offers a new approach to the study of institutions and adds to the growing body of literature in the field of 'new institutionalism.' Dr. Matt Evans utilizes previous characterizations of institutions to analyze the framework affecting policymaking and the tools used for policy implementation. In examining the effect of institutional change on public policy, this book compares the implementation of population dispersal policy in Israel over two fifteen-year periods. The first period, which includes the years between 1951 and 1965, was characterized by limited electoral competition and societal values that emphasized collective over individual interests. By contrast, the period from 1988 to 2002 constituted a framework of heightened political competition and public policies geared toward individual and group interests. An Institutional Framework for Policymaking provides a critical examination of the role of coercion in public policy, and provides insight into the relevance of national plans and their effectiveness in modern governance. The research in this book will appeal to scholars of political science, public policy, and urban planning.