Economic Theory and Reality: Selected Essays on Their Disparities and Reconciliation - Couverture rigide

Scitovsky, Tibor

Couverture rigide

ISBN 10 : 1858981395 ISBN 13 : 9781858981390

Editeur : Edward Elgar Publishing Ltd, 1995

Synopsis

Economic Theory and Reality presents Tibor Scitovsky's latest thinking on the relationship between economic theory and economic reality. This volume features discussion of many of the important theoretical contributions made to economics over the last 40 years including the Keynesian revolution and the ideas of Lerner, Steindl, Hirsch, Frank and many others who extended and enhanced the economist's toolbox.

Professor Scitovsky's attempt to make economic theory more realistic and thereby more useful is the subject of the first part of the volume which includes his work on the necessity of asymmetric markets, some market power and righteous behaviour as conditions of a progressive and properly functioning market economy. The second major theme is the shortcomings of the real-world economy and, in particular, its failure to maintain macroequilibrium, price stability and full employment. This part includes examinations of inflexible wages and prices, excessive claims, positional goods, and the impact of second-hand markets on the macroeconomy.

Economic Theory and Reality improves access to Professor Scitovsky's most important recent work, much of which was originally published either in foreign languages or outside the mainstream literature. As well as improving our understanding of his approach to economics and the contributions which he has made to scholarship, this book addresses key questions about the relevance of economic theory and its future direction.

A propos du livre

À propos de l'auteur

The late Tibor Scitovsky, formerly Emeritus Professor of Economics, Stanford University, US, Professor Emeritus, London School of Economics, UK and Professor Emeritus University of California, Santa Cruz, US

Détails de l'édition

• Éditeur: Edward Elgar Publishing Ltd
• Date d'édition: 1995
• Langue: anglais
• ISBN 10: 1858981395
• ISBN 13: 9781858981390
• Reliure: Relié
• Nombre de pages: 264
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible