A New Principles of Economics: The Science of Markets

This book defines new principles of economics and seeks to establish economics as the science of markets, integrating recent developments and research in both economics and neighboring social sciences. It introduces new perspectives, such as approaching the economy as part of the Earth system, connecting production with technology, treating markets as social networks, and reinstating distribution in political economy analysis.

Format: Paperback / softback
Length: 506 pages
Publication date: 30 December 2022
Publisher: Taylor & Francis Ltd

Despite the dynamic development of the discipline of economics, the ways in which economics is taught and how it defines its basic principles have hardly changed, resulting in economics being criticized for its inability to provide relevant insights on global challenges. In response, this book defines new principles of economics and seeks to establish economics as the science of markets.

A New Principles of Economics provides an alternative conceptual framework for the study of economics, integrating recent developments and research in both economics and neighboring social sciences. Adopting the structure of a standard principles text, it separates the study of markets as mechanisms and markets in their wider contexts. In doing so, a number of new perspectives are introduced, including approaching the economy as part and parcel of the Earth system; directly connecting the analysis of production with an analysis of technology and thermodynamic principles; explicitly treating markets as forms of social networks mediated by the institution of money; and reinstating the central role of distribution in political economy analysis.

Drawing on the latest theories and research on the economy, and including both the natural and social sciences, this text provides a holistic introduction suitable for postgraduates and other advanced students.

Weight: 957g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367557195