Economics In The Future/h

Economics has been in crisis since its separation from social philosophy, with the marginalist schools emerging in the late 18th century and the Great Depression in the 1930s leading to the new macroeconomics pioneered by Keynes. This book brings together responses from leading economists to pressing problems like mass poverty, unbalanced affluence, increasing regional economic disparities, imbalances in population development, irrational disposition of non-renewable resources, and production and consumption processes ill-adjusted to the limited carrying capacity of the environment.

Format: Paperback / softback
Length: 132 pages
Publication date: 30 June 2022
Publisher: Taylor & Francis Ltd

Economics has faced ongoing crises since its separation from social philosophy in the late eighteenth century. However, these crises have been particularly acute at certain times. One such instance was at the turn of the last century, when classical predictions began to lose their accuracy, leading to the emergence of marginalist schools as a response. Another critical period was at the beginning of the 1930s, when the Great Depression challenged the established harmony of Keynesian theory, giving rise to the new macroeconomics pioneered by Keynes. Undoubtedly, contemporary economics is grappling with a crisis, particularly when crisis is defined as the inability to address the pressing challenges of our time. These challenges encompass a wide range of issues, including mass poverty, unequal wealth distribution, growing regional economic disparities, imbalances in population development, irrational utilization of non-renewable resources, and production and consumption processes that are out of sync with the finite carrying capacity of the environment.

To address these complex problems, this book seeks to compile responses from renowned economists. Given the vast scope of the subject matter, it is natural for the specific emphasis given to various approaches to vary among the authors. However, the collective insights and perspectives offered by these experts provide valuable insights into the challenges and potential solutions facing economics today.

In conclusion, the crisis in contemporary economics is a reflection of the complex and interconnected nature of the global economy. By bringing together responses from leading economists, this book aims to contribute to the ongoing dialogue and efforts to address these pressing issues and build a more sustainable and equitable future.

ISBN-13: 9780367171322