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Power and Neoclassical Economics = A Return to Political Economy in the Teaching of Economics /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Power and Neoclassical Economics/ by A. Ozanne.
Reminder of title:	A Return to Political Economy in the Teaching of Economics /
Author:	Ozanne, A.
Description:	VIII, 101 p.online resource. :
Contained By:	Springer Nature eBook
Subject:	Microeconomics. -
Online resource:	https://doi.org/10.1057/9781137553737
ISBN:	9781137553737

Power and Neoclassical Economics = A Return to Political Economy in the Teaching of Economics /
Ozanne, A.

Power and Neoclassical EconomicsA Return to Political Economy in the Teaching of Economics /[electronic resource] :by A. Ozanne. - 1st ed. 2016. - VIII, 101 p.online resource.

Mainstream economics almost completely ignores the role power plays in determining economic outcomes, which means it can only provide partial explanations of the distribution of wealth and income, and of the problems associated with inequality and poverty. For many, this is a fundamental failing that severely limits its relevance to the real world and is the source of much dissatisfaction with, and cynicism about, economics and economists. Ozanne explains how this neglect of power has come about over the past 150 years and why it is important. He reviews various definitions and theories of power from across the social sciences and proposes a new approach that could bring considerations of power back into standard economic theory and economics teaching. The approach is simple and intuitive, involving little more than re-envisioning the social welfare function as a 'political economy function'. However, if adopted in economics teaching, it could radically change the way young economists are taught to think about economic problems and lead to a 'return to political economy'.

ISBN: 9781137553737

Standard No.: 10.1057/9781137553737doiSubjects--Topical Terms:

565210
Microeconomics.

LC Class. No.: HB172

Dewey Class. No.: 338.5

Power and Neoclassical Economics = A Return to Political Economy in the Teaching of Economics /
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520 $a Mainstream economics almost completely ignores the role power plays in determining economic outcomes, which means it can only provide partial explanations of the distribution of wealth and income, and of the problems associated with inequality and poverty. For many, this is a fundamental failing that severely limits its relevance to the real world and is the source of much dissatisfaction with, and cynicism about, economics and economists. Ozanne explains how this neglect of power has come about over the past 150 years and why it is important. He reviews various definitions and theories of power from across the social sciences and proposes a new approach that could bring considerations of power back into standard economic theory and economics teaching. The approach is simple and intuitive, involving little more than re-envisioning the social welfare function as a 'political economy function'. However, if adopted in economics teaching, it could radically change the way young economists are taught to think about economic problems and lead to a 'return to political economy'.
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