The Puzzle of Modern Economics: Science or Ideology?

The Puzzle of Modern Economics Science or Ideology Does economics hold the key to everything or does the recent financial crisis show that it has failed This book provides an assessment of modern economics that cuts through the confusion and controver

  • Title: The Puzzle of Modern Economics: Science or Ideology?
  • Author: Roger E. Backhouse
  • ISBN: 9780521532617
  • Page: 214
  • Format: Paperback
  • Does economics hold the key to everything or does the recent financial crisis show that it has failed This book provides an assessment of modern economics that cuts through the confusion and controversy on this question Case studies of the creation of new markets, the Russian transition to capitalism, globalization, and money and finance establish that economics has beenDoes economics hold the key to everything or does the recent financial crisis show that it has failed This book provides an assessment of modern economics that cuts through the confusion and controversy on this question Case studies of the creation of new markets, the Russian transition to capitalism, globalization, and money and finance establish that economics has been very successful where problems have been well defined and where the world can be changed to fit the theory, but that it has been less successful in tackling bigger problems The book then offers a historical perspective on how economists have, since the Second World War, tried to make their subject scientific It explores the evolving relationship between science and ideology and investigates the place of heterodoxy and dissent within the discipline It is argued that, though there are problems with the discipline, economics is needed to combat the myths that abound concerning economic problems.

    • Unlimited [Philosophy Book] ☆ The Puzzle of Modern Economics: Science or Ideology? - by Roger E. Backhouse ✓
      214 Roger E. Backhouse
    • thumbnail Title: Unlimited [Philosophy Book] ☆ The Puzzle of Modern Economics: Science or Ideology? - by Roger E. Backhouse ✓
      Posted by:Roger E. Backhouse
      Published :2018-08-20T00:17:27+00:00

    1 thought on “The Puzzle of Modern Economics: Science or Ideology?”

    1. For sure, Roger Backhouse covers old ground in this short survey but as an explanation of the state of economics today and the conditions that have led to this, it will be a hard book to beat. The author’s typically moderate, unhistrionic take on the subject will suit newcomers to economics of any persuasion; yet he never ceases to tackle controversial issues and never denies the role ideology has had in shaping the discipline.Topics that I have struggled with before including the nuts and bol [...]

    2. This is one of the best books on economics I have read. The combination of case studies in the first half of the book and history/theory in the second half of the book sheds an amazing amount of light on the mysteries of modern economics for an ill-informed reader like myself. The book's central aim is to work out what modern economics is for and whether it achieves the aims it sets for itself. As one might expect of an academic treatment of this issue the results are mixed. Backhouse claims tha [...]

    3. Is economics a science or an ideology? When economics predicts the behavior of professionals in restricted situations, such as trading in permits for acid rain-causing pollution, or auctioning the 3G frequency spectrum, it is a science that makes falsifiable predictions. When you have broader situations involving a wider group of people, such as Russia's transition to capitalism, or the globalization of Third World countries, or the recent world financial crisis, economics loses its predictive p [...]

    4. Roger Backhouse made the most important conclusion in this well-written book; economists must embrace that none of us have full information, that some people know more than others, that people are influenced by fashions, that one person's action may have a direct effect one someone else, and that it is not always possible to charge for a good.

    Leave a Reply

    Your email address will not be published. Required fields are marked *