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Rediscovering Social Economics

Beyond the Neoclassical Paradigm

  • Book
  • © 2017

Overview

Authors:
  1. Roger D. Johnson

    1. Mechanicsburg, USA

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  • Explores how alternative approaches to social economics influence mainstream discourse
  • Critically analyzes normative and behavioral assumptions underpinning labor and financial markets
  • Provides a fresh treatment of the neoclassical idea of market equilibrium

Part of the book series: Perspectives from Social Economics (PSE)

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About this book

This book argues that economists need to reengage with societal issues, such as justice and fairness in distribution, that inevitably arise when discussing the basic economic problem of unlimited human wants and finite resources. Approaching the problem through a history of economic thought, Johnson reexamines Adam Smith’s contributions to show how they reach beyond neoclassical models that are too simplistic to reflect the growing interdependencies of market economies. He breaks down supposedly value-free neoclassical postulates to expose normative assumptions about economics and justice, demonstrating, for example, that the concept of market equilibrium is problematic because need-based behavior can produce involuntary unemployment even when a competitive labor market achieves equilibrium.

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xv
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  2. Humans, Society and Markets

    1. Front Matter

      Pages 1-1
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    2. The Foundations of Economics

      • Roger D. Johnson
      Pages 3-15

    3. The Political and Moral Dimensions of Economics

      • Roger D. Johnson
      Pages 17-30

    4. The Moral and Social Problem of Scarcity

      • Roger D. Johnson
      Pages 31-40

    5. Social Welfare, Markets and Efficiency

      • Roger D. Johnson
      Pages 41-56

    6. Understanding Human Choice

      • Roger D. Johnson
      Pages 57-67

    7. Challenges to Homo Economicus

      • Roger D. Johnson
      Pages 69-86

    8. Understanding Markets

      • Roger D. Johnson
      Pages 87-101

  3. Income Distribution: Labor and Financial Markets

    1. Front Matter

      Pages 103-103
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    2. The Supply of Labor

      • Roger D. Johnson
      Pages 105-120

    3. The Demand for Labor

      • Roger D. Johnson
      Pages 121-131

    4. Labor Market Equilibrium?

      • Roger D. Johnson
      Pages 133-144

    5. The Mondragón Alternative

      • Roger D. Johnson
      Pages 145-152

    6. Financial Markets and the Growth of Plutonomies

      • Roger D. Johnson
      Pages 153-164

    7. The Evolving Dialogue

      • Roger D. Johnson
      Pages 165-173

  4. Back Matter

    Pages 175-191
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Authors and Affiliations

  • Mechanicsburg, USA

    Roger D. Johnson

About the author

Roger D. Johnson is a retired Professor of Economics from Messiah College, USA. He earned the Helen Potter Award from the Association for Social Economics for best article appearing in the Review of Social Economics in 1990.

Bibliographic Information

  • Book Title: Rediscovering Social Economics

  • Book Subtitle: Beyond the Neoclassical Paradigm

  • Authors: Roger D. Johnson

  • Series Title: Perspectives from Social Economics

  • DOI: https://doi.org/10.1007/978-3-319-51265-5

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017

  • Hardcover ISBN: 978-3-319-51264-8Published: 02 March 2017

  • Softcover ISBN: 978-3-319-84606-4Published: 13 July 2018

  • eBook ISBN: 978-3-319-51265-5Published: 23 February 2017

  • Series ISSN: 2662-396X

  • Series E-ISSN: 2662-3978

  • Edition Number: 1

  • Number of Pages: XV, 191

  • Number of Illustrations: 7 b/w illustrations, 25 illustrations in colour

  • Topics: Social Choice/Welfare Economics/Public Choice/Political Economy, Labor Economics

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