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The Heterodox Theory of Social Costs

2015-07-30 Business & Economics
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Release : 2015-07-30
Genre : Business & Economics
Kind : eBook
Book Rating : 378/5 ( reviews)

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Book Synopsis The Heterodox Theory of Social Costs by : K. William Kapp

Download or read book The Heterodox Theory of Social Costs written by K. William Kapp. This book was released on 2015-07-30. Available in PDF, EPUB and Kindle. Book excerpt: K. William Kapp’s heterodox theory of social costs proposes precautionary planning to pre-empt social costs and provide social benefits via socio-ecological safety standards that guarantee the gratification of basic human needs. Based on arguments from Thorstein Veblen, Karl Marx, and Max Weber, social costs are conceptualized as systemic and large-scale damages caused by markets. Kapp refutes neoclassical solutions, such as bargaining, taxation, and tort law, unmasking them as ineffective, inefficient, inconsistent, and too market-obedient. The chapters of this book present the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technological standards. This book demonstrates the fruitfulness of the heterodox theory of social costs as a coherent framework to develop effective remedies for today’s urgent socio-ecological crises. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.

The Heterodox Theory of Social Costs

2016 Business & Economics
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Release : 2016
Genre : Business & Economics
Kind : eBook
Book Rating : 759/5 ( reviews)

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Book Synopsis The Heterodox Theory of Social Costs by : Karl William Kapp

Download or read book The Heterodox Theory of Social Costs written by Karl William Kapp. This book was released on 2016. Available in PDF, EPUB and Kindle. Book excerpt: In K. William Kapp's most important work, Social Costs and Social Benefits, he argued that social controls are necessary to both reduce the social costs and increase the social benefits of the economy - aspects which are neglected under a system of free enterprise. Merging arguments from Thorstein Veblen, Karl Marx and Max Weber, Kapp develops a genuinely heterodox theory that analyzes social costs as large-scale damages that are caused by markets and require systemic solutions. The core of this book are the chapters on the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technology. These chapters convincingly argue for socio-ecological safety standards that yield social benefits and sustainable development. In this, Kapp refutes conventional solutions, such as bargaining, taxation, and tort law as ineffective, inefficient, inconsistent, and too market-obedient. This book demonstrates the fruitfulness of the heterodox theory on social costs. The latter is a coherent alternative to neoclassical economics and an effective remedy for urgent socio-economic and ecological problems. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.

Social Costs of Markets and Economic Theory

2014-01-07 Political Science
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Release : 2014-01-07
Genre : Political Science
Kind : eBook
Book Rating : 383/5 ( reviews)

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Book Synopsis Social Costs of Markets and Economic Theory by : Frederic S. Lee

Download or read book Social Costs of Markets and Economic Theory written by Frederic S. Lee. This book was released on 2014-01-07. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the social costs of markets from a heterodox perspective. It deals with the degrading of work, decline of community, and rising income inequality in the United States as markets and especially financial markets come to dominate society. Of course, if there is an attempt to point out the social costs of markets, the response of mainstream economists is to silence the critics or even in Orwellian fashion redefine their critiques so as to eliminate any negative comments about markets. While critique is necessary, there also needs to be a constructive agenda, that is, the developing of an alternative, heterodox economic theory. So overall the book presents a critique of the social costs markets and the beginning of a heterodox economic theory of how the capitalist market system actually works.

Contemporary Issues in Heterodox Economics

2020-10-07 Business & Economics
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Release : 2020-10-07
Genre : Business & Economics
Kind : eBook
Book Rating : 495/5 ( reviews)

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Book Synopsis Contemporary Issues in Heterodox Economics by : Arturo Hermann

Download or read book Contemporary Issues in Heterodox Economics written by Arturo Hermann. This book was released on 2020-10-07. Available in PDF, EPUB and Kindle. Book excerpt: Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory. The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment, and the regularity of economic/financial crises. The authors examine potential policy responses such as modern monetary theory, models of public ownership, and the need to move beyond standard concepts of growth. They also explore the deficiencies of orthodox economics, and contend that a more pluralist approach to economics is required in the public sphere, in academia, and in the classroom in order to help face the challenges of the twenty-first century. This book is invaluable reading for students and scholars across the social sciences who are interested in alternatives to mainstream economic thinking.

The Social Costs of Business Enterprise

1978 Externalities (Economics)
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Release : 1978
Genre : Externalities (Economics)
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis The Social Costs of Business Enterprise by : Karl William Kapp

Download or read book The Social Costs of Business Enterprise written by Karl William Kapp. This book was released on 1978. Available in PDF, EPUB and Kindle. Book excerpt:

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