Johnson Rediscovering Social Economics

Beyond the Neoclassical Paradigm
1. Auflage 2017
ISBN: 978-3-319-51265-5
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 198 Seiten

Reihe: Perspectives from Social Economics

This book argues that economists need to reengage with societal issues, such as justice and fairness in distribution, that inevitably arise when discussing the basic economic problem of unlimited human wants and finite resources. Approaching the problem through a history of economic thought, Johnson reexamines Adam Smith's contributions to show how they reach beyond neoclassical models that are too simplistic to reflect the growing interdependencies of market economies. He breaks down supposedly value-free neoclassical postulates to expose normative assumptions about economics and justice, demonstrating, for example, that the concept of market equilibrium is problematic because need-based behavior can produce involuntary unemployment even when a competitive labor market achieves equilibrium.


Roger D. Johnson is a retired Professor of Economics from Messiah College, USA. He earned the Helen Potter Award from the Association for Social Economics for best article appearing in the Review of Social Economics in 1990.

Autoren/Hrsg.

Johnson, Roger D.

Inhaltsverzeichnis

1;Preface;7
2;Contents;10
3;List of Figures;12
4;List of Tables;14
5;Part I: Humans, Society and Markets;15
5.1;Chapter 1: The Foundations of Economics;16
5.1.1;Notes;27
5.2;2: The Political and Moral Dimensions of Economics;29
5.2.1;Notes;41
5.3;Chapter 3: The Moral and Social Problem of Scarcity;43
5.3.1;Robinson Crusoe as an Economic Allegory;45
5.3.2;Notes;52
5.4;4: Social Welfare, Markets and Efficiency;53
5.4.1;Notes;68
5.5;5: Understanding Human Choice;69
5.5.1;Marginal Utility Analysis;72
5.5.2;Notes;79
5.6;6: Challenges to Homo Economicus;80
5.6.1;Game Theory;81
5.6.2;The Behavioralists;85
5.6.3;Notes;96
5.7;7: Understanding Markets;98
5.7.1;Notes;111
6;Part II: Income Distribution: Labor and Financial Markets;113
6.1;8: The Supply of Labor;114
6.1.1;Shifting the Supply of Labor and Market Segmentation;121
6.1.1.1;Population;121
6.1.1.2;Human Capital;121
6.1.1.3;Wealth and Non-wage Income;122
6.1.1.4;Social Wealth;123
6.1.1.5;Preference for Market Goods;124
6.1.1.6;Non-market Efficiency;125
6.1.1.7;Risk;125
6.1.1.8;Labor Mobility;126
6.1.1.9;Employee Preferences;127
6.1.2;Notes;128
6.2;9: The Demand for Labor;130
6.2.1;Notes;139
6.3;10: Labor Market Equilibrium?;141
6.3.1;Notes;151
6.4;11: The Mondragón Alternative;153
6.4.1;Notes;159
6.5;12: Financial Markets and the Growth of Plutonomies;161
6.5.1;Notes;171
6.6;13: The Evolving Dialogue;173
6.6.1;Notes;181
7;Bibliography;182
8;Index;190