This book could be called "The Intelligent Person's Guide to Economics." The title expresses Duncan Foley's belief that economics at its most abstract and interesting level is a speculative philosophical discourse, not a deductive or inductive science. Adam's fallacy is the attempt to separate the economic sphere of life, in which the pursuit of self-interest is led by the invisible hand of the market to a socially beneficial outcome, from the rest of social life, in which the pursuit of self-interest is morally problematic and has to be weighed against other ends.
This book could be called “The Intelligent Person’s Guide to Economics.” Like Robert Heilbroner’s The Worldly Philosophers, it attempts to explain the core ideas of the great economists, beginning with Adam Smith and ending with Joseph Schumpeter. In between are chapters on Thomas Malthus, David Ricardo, Karl Marx, the marginalists, John Maynard Keynes, Friedrich Hayek, and Thorstein Veblen. The title expresses Duncan Foley’s belief that economics at its most abstract and interesting level is a speculative philosophical discourse, not a deductive or inductive science. Adam’s fallacy is the attempt to separate the economic sphere of life, in which the pursuit of self-interest is led by the invisible hand of the market to a socially beneficial outcome, from the rest of social life, in which the pursuit of self-interest is morally problematic and has to be weighed against other ends. Smith and his successors argued that the market and the division of labor that is fostered by it result in tremendous gains in productivity, which lead to a higher standard of living. Yet the market does not address the problem of distribution—that is, how is the gain in wealth to be divided among the classes and members of society? Nor does it address such problems as the long-run well-being of the planet. Adam’s Fallacy is beautifully written and contains interesting observations and insights on almost every page. It will engage the reader’s thoughts and feelings on the deepest level.
Climate change is broadly recognized as a key environmental issue affecting social and ecological systems worldwide. At the Cancun summit of the United Nations Framework Convention on Climate Change’s 16th Conference, the parties jointly agreed that the vulnerable groups particularly in developing countries and whose livelihood is based on land use practices are the most common victims as in most cases their activities are shaped by the climate. Therefore, solving the climate dilemma through mitigation processes and scientific research is an ethical concern. Thus combining the knowledge systems of the societies and scientific evidences can greatly assist in the creation of coping mechanisms for sustainable development in a situation of changing climate. International Humboldt Kolleg focusing on “knowledge systems of societies and Climate Change” was organized at ISEC. This event was of unique importance, as the year 2011-12 was celebrated as the 60th Anniversary of Diplomatic Relations between India and Germany with the motto "Germany and India - Infinite Opportunities." This volume is the outcome of the papers presented during the IHK 2011 at ISEC, India.
A timely examination of social policy through a social constructivist and economic lens, Social Policy and Social Change illuminates the root causes of common social problems and how policy has attempted to ameliorate them. In so doing, the book focuses on how social policies in the United States can be transformed to promote social justice for all groups. The book uniquely offers both an historical analysis of social problems and social policies, and an economic analysis of how capitalism and the market economy have contributed to social problems and impacted social policies. The book goes beyond the U.S. borders to examine the impact of globalization in the United States and in the Global South. It considers the meaning and impact of the election of Barack Obama as President of the United States and explores the policy solutions his administration has proposed to deal with the economic recession of 2008-2009. The book also discusses social workers as agents of social change and advocates of social and economic justice. It examines five key realms: Poverty in families and the welfare system, poverty among the elderly and social security, child maltreatment and child welfare policy, health and mental health policy, and housing policy. Social Policy and Social Change is a primary text for social policy/social welfare policy courses in MSW programs and possibly some higher level BSW programs. It will be supplemented with a comprehensive ancillary program, including a test bank, instructor's manual, and student website.
Includes refereed articles on topics in economic methodology and the history of economics, including Austrian economic methodology and Wesley Mitchell. This collection covers such topics as Adam Smith, John Kenneth Galbraith, Friedrich Nietzsche, Joseph Schumpeter, Janos Kornai, the Chicago School, French econometrics, and financial economics.