The Crisis of Vision in Modern Economic Thought / Edition 1

The Crisis of Vision in Modern Economic Thought / Edition 1

by Robert L. Heilbroner, William S. Milberg
     
 

ISBN-10: 0521497744

ISBN-13: 9780521497749

Pub. Date: 06/28/2002

Publisher: Cambridge University Press

A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a "vision"—a set of widely shared political and social preconceptions—on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 through the early 1970s,

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Overview

A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a "vision"—a set of widely shared political and social preconceptions—on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 through the early 1970s, comparable to earlier visions provided by Smith, Ricardo, Mill, and Marshall. The "unraveling" of Keynesianism has been followed by a division into discordant and ineffective camps whose common denominator seems to be their shared analytical refinement and lack of practical applicability. This provocative analysis attempts both to describe this state of affairs, and to suggest the direction in which economic thinking must move if it is to regain the relevance and remedial power it now pointedly lacks.

Product Details

ISBN-13:
9780521497749
Publisher:
Cambridge University Press
Publication date:
06/28/2002
Edition description:
New Edition
Pages:
144
Product dimensions:
5.43(w) x 8.50(h) x 0.35(d)

Related Subjects

Table of Contents

1. What is at stake; 2. Classical situations; 3. The Keynesian consensus; 4. The great unraveling; 5. The crisis of vision; 6. The nature of society; 7. The science of capitalism.

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