Reclaiming Pluralism in Economics

Front Cover
Jerry Courvisanos, James Doughney, Alex Millmow
Routledge, Mar 31, 2016 - Business & Economics - 346 pages

Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered ‘heterodox’.

This book is in honour of John Edward King who has an impressive publication record in the area of economic theory with specific interest in how economic thought in the past shapes current economic theory and enforces certain paths of economic policy and economic development. This book is divided into five themes based on King’s interests. The first theme looks at the challenge in trying to reclaim pluralism in economics. The second faces head-on the direct collision of mainstream economics with history of economic thought and heterodox economics. The third addresses classical economic ideas, their central influence in the past and how they can still primarily guide modern pluralist economics. The fourth examines Post Keynesian and Kaleckian economics with a view to providing a more coherent and extensive branch of heterodox economics. The final theme critiques the policy of neoliberalism that has entrenched itself in capitalist economies which have led to financial, industrial, labour, and behavioural/consumerist crises.

This text aims to provide a clear path for pluralism to serve the economics discipline as its standard bearer, and to no longer be merely a heterodox challenge to the mainstream. This book is of interest to those who study history of economic thought, political economy and heterodox economics.

 

Contents

Preface
Pluralism in economics Challenges by and for heterodoxy
Consistency in pluralism and the role of microfoundations
The role of history of economic thought in the path to pluralism
The history of economics down under Repulsing the barbarians at
The influence of the history of economic thought on pluralism
Pluralism begins classical ideas yesterday and today
Problems in Marxs theory of the declining profit rate
The Ricardian theory of rent A case study in multiple discovery and
On Ricardo and Cambridge
Pluralism develops twentiethcentury alternatives
Keynes Kalecki Sraffa Coherence within pluralism?
Post Keynesian price theory with a Schumpeterian twist
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About the author (2016)

Jerry Courvisanos is Associate Professor of Innovation and Entrepreneurship at Federation University Australia, Ballarat, Australia.

James Doughney is Professorial Fellow at the Victoria Institute of Strategic Economic Studies, Victoria University, Australia.

Alex Millmow is Associate Professor of Economics at Federation University Australia, Ballarat, Australia.

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