skip to content
Economics versus reality : how to be effective in the real world in spite of economic theory Preview this item
ClosePreview this item
Checking...

Economics versus reality : how to be effective in the real world in spite of economic theory

Author: John M Legge
Publisher: New Brunswick, New Jersey : Transaction Publishers, [2016] ©2016
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
John M. Legge shows the many ways in which the real world diverges from economics textbooks. He argues that mainstream economic theory took a disastrous turn 140 years ago, when it attempted to use calculus to explain human behavior. A real economy involves people who are not variables in equations. This error led to a second, mainstream economics becoming obsessed with equilibrium. However, constant change is the  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Document Type: Book
All Authors / Contributors: John M Legge
ISBN: 9781412857161 1412857163 9781412861946 1412861942 9781412862516 1412862515
OCLC Number: 911073536
Description: xvii, 318 pages ; 24 cm
Contents: Uses and abuses of economics --
Names to recon with the classical economists --
Competition: Real or perfect? --
Money and banking --
Macroeconomics --
Inflation --
The great recession and the Eurozone crisis --
The labor market --
The engine of growth --
Investment --
Externalities and public goods --
Intervention and laissez-faire --
Corporations --
After neoliberalism.
Responsibility: John M. Legge.

Abstract:

John M. Legge shows the many ways in which the real world diverges from economics textbooks. He argues that mainstream economic theory took a disastrous turn 140 years ago, when it attempted to use calculus to explain human behavior. A real economy involves people who are not variables in equations. This error led to a second, mainstream economics becoming obsessed with equilibrium. However, constant change is the reality and one cannot explain the present without understanding the path taken to get here. This book presents economics in historical context. It includes a short account of the contributions by some of the key figures in economic theory, starting with Adam Smith. Smith placed great weight on morality: he believed that economic activity took place in a society and could not be justified except insofar as it advanced the interests of that society. Too many economists have come to believe that the interests of society can be measured by a number: that if a policy change raises the GDP it is justified, whatever its impact on people. Legge places the economy within society, and society within the environment, explaining that every significant decision has a social and environmental impact, as well as an economic dimension. Seeking to provide answers to students, professional business managers, and those interested in the political process, this work addresses the gap between theory and reality. -- Back cover.

Reviews

Editorial reviews

Publisher Synopsis

-John's book challenges ubiquitous textbook 'truths' about the invisible mechanisms ruling the real world. Historical narrative and practical examples clearly demonstrate that businesses turning to Read more...

 
User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/911073536> # Economics versus reality : how to be effective in the real world in spite of economic theory
    a schema:Book, schema:CreativeWork ;
    library:oclcnum "911073536" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/nju> ;
    schema:about <http://dewey.info/class/330/e23/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/wirtschaftstheorie> ; # Wirtschaftstheorie
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/wirtschaftspolitik> ; # Wirtschaftspolitik
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/entscheidungstheorie> ; # Entscheidungstheorie
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/economics> ; # Economics
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/economic_history> ; # Economic history
    schema:about <http://experiment.worldcat.org/entity/work/data/2875710713#Topic/gleichgewichtstheorie> ; # Gleichgewichtstheorie
    schema:bookFormat bgn:PrintBook ;
    schema:creator <http://experiment.worldcat.org/entity/work/data/2875710713#Person/legge_john_m_1942> ; # John M. Legge
    schema:datePublished "2016" ;
    schema:description "John M. Legge shows the many ways in which the real world diverges from economics textbooks. He argues that mainstream economic theory took a disastrous turn 140 years ago, when it attempted to use calculus to explain human behavior. A real economy involves people who are not variables in equations. This error led to a second, mainstream economics becoming obsessed with equilibrium. However, constant change is the reality and one cannot explain the present without understanding the path taken to get here. This book presents economics in historical context. It includes a short account of the contributions by some of the key figures in economic theory, starting with Adam Smith. Smith placed great weight on morality: he believed that economic activity took place in a society and could not be justified except insofar as it advanced the interests of that society. Too many economists have come to believe that the interests of society can be measured by a number: that if a policy change raises the GDP it is justified, whatever its impact on people. Legge places the economy within society, and society within the environment, explaining that every significant decision has a social and environmental impact, as well as an economic dimension. Seeking to provide answers to students, professional business managers, and those interested in the political process, this work addresses the gap between theory and reality. -- Back cover."@en ;
    schema:description "Uses and abuses of economics -- Names to recon with the classical economists -- Competition: Real or perfect? -- Money and banking -- Macroeconomics -- Inflation -- The great recession and the Eurozone crisis -- The labor market -- The engine of growth -- Investment -- Externalities and public goods -- Intervention and laissez-faire -- Corporations -- After neoliberalism."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/2875710713> ;
    schema:inLanguage "en" ;
    schema:name "Economics versus reality : how to be effective in the real world in spite of economic theory"@en ;
    schema:productID "911073536" ;
    schema:workExample <http://worldcat.org/isbn/9781412857161> ;
    schema:workExample <http://worldcat.org/isbn/9781412861946> ;
    schema:workExample <http://worldcat.org/isbn/9781412862516> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/911073536> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/2875710713#Person/legge_john_m_1942> # John M. Legge
    a schema:Person ;
    schema:birthDate "1942" ;
    schema:familyName "Legge" ;
    schema:givenName "John M." ;
    schema:name "John M. Legge" ;
    .

<http://experiment.worldcat.org/entity/work/data/2875710713#Topic/entscheidungstheorie> # Entscheidungstheorie
    a schema:Intangible ;
    schema:name "Entscheidungstheorie"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/2875710713#Topic/gleichgewichtstheorie> # Gleichgewichtstheorie
    a schema:Intangible ;
    schema:name "Gleichgewichtstheorie"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/2875710713#Topic/wirtschaftspolitik> # Wirtschaftspolitik
    a schema:Intangible ;
    schema:name "Wirtschaftspolitik"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/2875710713#Topic/wirtschaftstheorie> # Wirtschaftstheorie
    a schema:Intangible ;
    schema:name "Wirtschaftstheorie"@en ;
    .

<http://worldcat.org/isbn/9781412857161>
    a schema:ProductModel ;
    schema:isbn "1412857163" ;
    schema:isbn "9781412857161" ;
    .

<http://worldcat.org/isbn/9781412861946>
    a schema:ProductModel ;
    schema:isbn "1412861942" ;
    schema:isbn "9781412861946" ;
    .

<http://worldcat.org/isbn/9781412862516>
    a schema:ProductModel ;
    schema:isbn "1412862515" ;
    schema:isbn "9781412862516" ;
    .

<http://www.worldcat.org/title/-/oclc/911073536>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/911073536> ; # Economics versus reality : how to be effective in the real world in spite of economic theory
    schema:dateModified "2018-04-13" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.