Market Economies And Natural Laws / Edition 1

Hardcover (Print)
Buy New
Buy New from BN.com
$95.46
Used and New from Other Sellers
Used and New from Other Sellers
from $104.45
Usually ships in 1-2 business days
Other sellers (Hardcover)
  • All (1) from $104.45   
  • New (1) from $104.45   

Overview

The forefathers of neoclassical or conventional economics, beginning with Walras, wanted to build a psycho-mathematical science similar to celestial mechanics. However, during the first half of the last century, they succumbed to the charm of axiomatization: Hence, economics remains a stillborn science. Its theory is plagued with incongruities, generating misleading notions and policies that are detrimental to human welfare and environmental equilibrium. Its truths have significantly low half-lives, and its confused pronouncements have become an open ground in which false consciousness rumble unchallenged. This state of affairs calls for a fundamental revision.

After reviewing the evolution of economics from Antiquity to the present and pointing to its inadequacies, Dominique proposes an alternative formulation which not only sheds light on the enduring features of market economics but also makes economics consistent with physics, the mother of all sciences. This is a challenging revision for scholars, students, and others involved with economic theory.

Read More Show Less

Editorial Reviews

Booknews
In this small volume, economist Dominique sets out to turn his field on its head. Why, he wonders, can't economics move to a higher level of generality and become a genuine scientific disciple? The poverty of economic explanations, their incongruities and paradoxes, and the commitment to excessive axiomatization are described as the field's main weaknesses. To overcome these problems, Dominique sets forth his proposal for an alternative formulation for the whole field based in the law of nature. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Read More Show Less

Product Details

  • ISBN-13: 9780275972561
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 6/30/2001
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 138
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.44 (d)

Meet the Author

C-RENE DOMINIQUE, formerly Professor of Economics at Canada's Laval University, has worked in the private and public sectors and at the Office of Technical Cooperation of the United Nations. Among Professor Dominique's earlier publications is Unfettered Globalization (Praeger, 1999).

Read More Show Less

Table of Contents

Preface
1 The Scientificity of Economics: A Stillborn Project 1
The Evolution of Conventional Economics 2
Ephemeral Truths 8
Truths and Consequences 10
2 An Economy Without a Rudder 13
Conditions for the Emergence of Scientific Theories 14
Modern Science: A Formal Definition 20
What About Economic Theory? 21
3 On the Maturity of Scientific Theories: Physics Versus Economics 25
The Conditions for Growth 25
The Growth of Economic Science 35
4 What Else Is Blocking Progress in Economics? 39
Theoretical Incongruities 40
Misleading Notions 42
Misleading Policies 45
The Costs of Divorcing Physics 48
App. A4.1 On the Optimal Application of a Technology 53
App. A4.2 The Minimization of Unrealized Gains 55
App. A4.3 The Theory of Special Relativity: A Primer 56
App. A4.4 The Quantum and Other World Views 62
5 Persistent Growth and Fluctuations 67
The Growth Process 68
Cyclical Movements and Fluctuations 70
6 An Alternative Subtheory of Human Choice 77
The Beginning 78
Decision According to Expected-Utility 79
A Proposed Alternative 81
App. A6.1 The Brain as a Dynamo 87
7 An Alternative Model of the Economy 91
The Need for Alternatives 92
The Search for Gratification 94
The Economy as a Collective Mental Replica 98
App. A7.1 Exotic Particles and Forces 103
App. A7.2 A Formal Model of Economy [zeta] 105
Summary and Conclusions 109
Bibliography 113
Index 119
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)