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Economics in a Changed Universe
Joseph E. Stiglitz, Globalization, and the Death of 'Free Enterprise'
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2008
Summary
A revolution in economics, politics, and international affairs has been shaped by the new economics of information. For the first time, we are able to look at our world through a lens illuminated by a much more precise understanding of how economies work and how individuals, groups, and corporations react to them. All of the disciplines of the social sciences are affected by this development but the greatest impact we can expect will be upon public policy-making. Joseph E. Stiglitz and his fellow Nobel Prize-winners have demonstrated, with the precision and force of logic, reason, and mathematics, that the folklore of what has been regarded as 'political economy' for the past two hundred and thirty years has misled us with ideological and mystical but useless ideas such as 'free enterprise' and the immutability of market 'givens.' Houseman describes and demonstrates the new resonance, liveliness, and optimism which characterize the economics of information, calling upon his own experience with 'Third World' issues and problems. He also looks at this new (but often ignored) economics as a challenge to the existing literature of the social sciences and to the practices and assumptions of policy-makers, interest groups such as environmentalists, labor, and multinational corporations, 'think tanks,' international organizations such as the IMF and World Bank, and political activists. Effectively arguing that the changed universe of economics requires any of us concerned with world affairs to re-think and adjust our assumptions, Houseman provides us with the necessary insight to apply this new paradigm to real-world problems.
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Bibliographic data
Copyright year
2008
ISBN-Print
978-0-7391-2714-8
ISBN-Online
978-0-7391-4079-6
Publisher
Lexington, Lanham
Language
English
Pages
158
Product type
Book Titles
Table of contents
ChapterPages
Table of Contents No access
Preface No access
Introduction No access
Chapter 01. A Notable Nobel No access Pages 1 - 12
Chapter 02. The Economics of Information: A Model of Scientific Performance and Promise No access Pages 13 - 20
Chapter 03. The Death of “Free Enterprise” and the Power of Information Economics No access Pages 21 - 48
Chapter 04. Globalization: The Pressing Economic Issue No access Pages 49 - 80
Chapter 05. Challenging the International Economic Order and the Panaceas of Privatization and Deregulation No access Pages 81 - 96
Chapter 06. Multinational Corporations: The Major Movers in the World Economy No access Pages 97 - 112
Conclusion: Accepting and Working Within the New Universe of Economics No access Pages 113 - 116
Notes No access Pages 117 - 128
Appendix A: Landmarks in the Evolution of the Economics of Information No access Pages 129 - 130
Appendix B: Research Contributions of George Akerlof, Michael Spence, and Bruce C. N. Greenwald No access Pages 131 - 134
Appendix C: Organizations Now Without Purpose as a Result of the Findings of the Economics of Information No access Pages 135 - 140
Appendix D: The Altered Literature of Economics Within the Changed Universe No access Pages 141 - 144
