By Ron P. Baiman
This booklet is in equivalent components a treatise on morality and economics, a critique of neoclassical orthodoxy, a short for exchanging mainstream economics with an intensive political economics, and a controversy for the abandonment of neoliberal capitalism in prefer of democratic socialism. It encompasses a certain idea for a "demand and price" replacement to "supply and insist" research and an in-depth technical critique of either neoclassical "high conception" and "applied microeconomic research" demonstrating that those usually are not in basic terms infeasible or immoral, yet have without delay contributed to public coverage failures. additional, the publication means that just a ethical economics within the kind of radical political economic climate can tackle the looming financial and environmental crises of today’s world.
Baiman starts with an creation to morality and ethics in either common sciences and in economics particularly. He then publications readers via proof of the way neoclassical economics has not just did not stay goal and value-free, yet has develop into an ideology of apologetics retaining an immoral procedure. as well as breaking down real-world examples to illustrate his assertions, Baiman analyzes a theoretical Utopia layout workout. He concludes through arguing that the one type of economics that helps generally shared human values—such as social fairness, democracy, and solidarity—is so-called "radical economics", and that each one precise economics technology can be directed towards reaching extra socially efficient fiscal task. a useful consultant to morality and economics, this ebook will entice researchers and academics seeking to swap the way in which we expect approximately economics, coverage, and society.
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Additional info for The Morality of Radical Economics: Ghost Curve Ideology and the Value Neutral Aspect of Neoclassical Economics
See also Susan Ehler Interview on Thom Hartmann’s “Big Picture” RT TV 8/8/2014. THE PHILOSOPHY AND SCIENCE OF MORALITY 35 half the population is arbitrarily limited. Again, an alternative economics, a radical economics that demonstrates how discrimination in employment often serves profit motives, why social policy measures are necessary to address institutionalized gender, race, and class oppression in market economies, is necessary (Arrow and Bowles 2000). Finally, among wealthy countries, the USA stands out as being one of the weakest supporters of measures to curb global warming.
A key goal of this book is thus to provide support for position (c) above, held by a large number of radical economists, that the problem with mainstream or NC economics is not that it is based on a particular set of values, even though it clearly is, but rather that these are the wrong 33 This is abundantly clear from the very critical stance taken by heterodox texts toward NC economics. See for example (Bowles et al. 2005; Keen 2011). 34 Keen (2011) and Lee (1998), for example, appear to have this view.
Additional examples are the Amish prohibition against college education on pain of being banished from the community and Christian Science 40 THE MORALITY OF RADICAL ECONOMICS prohibitions against medical treatment. The former expressly limits the exposure of youth to alternative ideas and views of the world and thus limits their ability to draw on human wisdom at large to make decisions about their own lives, and the latter leads to unnecessary suffering from illness and sometimes early death directly causing current suffering and sometimes affecting any chance of future well-being.