The End of Economic Man: An Introduction to Humanistic Economics

Front Cover
W. W. Norton & Company, 2001 - Business & Economics - 479 pages
When Adam Smith pioneered modern economics in the eighteenth century, it was a branch of philosophy. By the close of the nineteenth century, economists had discovered the usefulness of mathematical tools from classical mechanics, and by the end of the twentieth visions of clicking pool balls reigned supreme. Except for one insightful critic: George Brockway. First writing for The New Leader and then in this seminal text, Brockway skewered mainstream economists who assumed away the free will of participants in the economy.This book establishes an economics in which men and women are not ceramic spheres subject only to cold, mathematical forecasts, but free human beings who are responsible for their actions and can find in this critical supposition the foundations of mores, morals, and morale. Now thoroughly revised, it is for anyone who has suspected that the economy is too important to be left to economists.
 

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Contents

Preface
9
Prologue Life Is Unfair Why Should We Care?
15
PART III
16
In the Beginning Is the Act
21
Why Economics Is Value Bound
29
Responsibility and Greed
42
PRINCIPLES OF ANY FUTURE ECONOMICS
63
1o Marginal Utility
203
Productivity vs Profitability
355
The Real Interest Fallacy and the Feds COLA
362
Inflation and Recession
375
The Death of NAIRU
392
PROSPECT
405
A Few Notes on the New Economy
407
A Few Notes on the New Finance
413
Why the Trade Deficit Wont Go Away
421

Saving and Investing
218
Micro Macro and Society
239
Money and Bankers
251
Speculation
278
International Trade
294
The Law of Comparative Advantage
329
General Equilibrium
337
On Being Fully Human
427
Epilogue We Are All Ends in Ourselves
441
References
443
Appendix Some Propositions Old and New
453
Index
455
Copyright

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About the author (2001)

George P. Brockway writes a monthly column, "The Dismal Science," for the New Leader.

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