Social fairness and economics : economic essays in the spirit of Duncan Foley

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Title:

Author:

Taylor, Lance, 1940-, editor.

ISBN:

9780415538190

9780203109502

Publication Information:

Abingdon, oxon ; New york : Routledge, 2013.

Physical Description:

xxii, 410 pages : illustrations ; 24cm.

Series:

Routledge frontiers of political economy ; 169

Routledge frontiers of political economy ; 169.

General Note:

Formerly CIP.

Contents:

Machine generated contents note: pt. I Socio-economic ideology and methodology -- 1.Keynes and Marx, Duncan and me / Michael J. Piore -- 2.The sophisticated Legislator meets Adam's fallacy: a cultura--institutional market failure / Samuel Bowles -- 3.The complex evolution of Duncan K. Foley as a complexity economist / J. Barkley Rosser, Jr. -- 4.Applications of statistical mechanics to economics: entropic origin of the probability distributions of money, income, and energy consumption / Victor M. Yakovenko -- pt. II Neoclassical economics: dispersed and decentralized exchange -- 5.Class in catallaxy / A. J. Julius -- 6.Positional goods, climate change and the social returns to investment / Peter Skott -- 7.Markets with Black Swans / Graciela Chichilnisky -- 8.Equilibrium vs. market efficiency / Joseph L. Mccauley -- 9.Foley's Thesis, Negishi's method, existence proofs and computation / K. Vela Velupillai -- pt. III Classical political economy: growth and distribution --

Contents note continued: 10.Rate of profit and crisis in the US economy: a class perspective / Simon Mohun -- 11.The sources of profitability / Roberto Veneziani -- 12.On the "vexata questio of value": Ricardo, Marx and Sraffa / Neri Salvadori -- 13.Duncan Foley's circuit of capital model for an open economy / Martin Abeles -- 14.Production, circuits of capital, and flows and stocks in national accounts / Anwar Shaikh -- 15.Endogenous technological change in Classical--Marxian models of growth and distribution / Amitava Krishna Dutt -- 16.Macroeconomics of Keynesian and Marxian inspirations: toward a synthesis / Dominique Levy -- 17.A model of fiscal and monetary policy / Thomas Michl -- 18.Consequences of downsizing in U.S. manufacturing, 1967 to 1997 / Edward N. Wolff -- pt. IV Complexity: barriers and bounds to rationality -- 19.Market ecology and the economics of crisis / Rajiv Sethi -- 20.Market complexity and the nature of crises in financial markets / Philip Mirowski --

Contents note continued: 21.The inherent hierarchy of money / Perry Mehrling.

Personal Subject:

Foley, Duncan K.

Subject Term:

Economics -- Moral and ethical aspects.

Equilibrium (Economics)

Added Author:

Taylor, Lance, 1940-,

Rezai, Armon,

Michl, Thomas R.,

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025594298	330.15 T243S 2013	1	Searching... Unknown

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Summary

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley's work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers.

Some of the chapters are intellectual biographies that contextualize and identify Foley's contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises.

The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.