Who Runs the Economy?

The Role of Power in Economics

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, Business & Finance, Economics
Cover of the book Who Runs the Economy? by , Palgrave Macmillan UK
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Author: ISBN: 9781137580177
Publisher: Palgrave Macmillan UK Publication: August 30, 2016
Imprint: Palgrave Macmillan Language: English
Author:
ISBN: 9781137580177
Publisher: Palgrave Macmillan UK
Publication: August 30, 2016
Imprint: Palgrave Macmillan
Language: English

Since the financial crisis of 2008 and the following Great Recession, there has been surprisingly little change in the systems of ideas, institutions and policies which preceded the crash and helped bring it about. 'Mainstream' economics carries on much as it did before. Despite much discussion of what went wrong, very little has substantially changed. Perhaps the answer has something to do with power; a subject on which economics is unusually quiet. Whilst economics may be able to discuss bargaining power and market power, it fails to explore the reciprocal connections between economic ideas and politics: the political power of economic ideas on the one side, and the influence of power structures on economic thought on the other. This book explores how the supposedly neutral discipline of economics does not simply describe human behaviour, but in fact shapes it.

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Since the financial crisis of 2008 and the following Great Recession, there has been surprisingly little change in the systems of ideas, institutions and policies which preceded the crash and helped bring it about. 'Mainstream' economics carries on much as it did before. Despite much discussion of what went wrong, very little has substantially changed. Perhaps the answer has something to do with power; a subject on which economics is unusually quiet. Whilst economics may be able to discuss bargaining power and market power, it fails to explore the reciprocal connections between economic ideas and politics: the political power of economic ideas on the one side, and the influence of power structures on economic thought on the other. This book explores how the supposedly neutral discipline of economics does not simply describe human behaviour, but in fact shapes it.

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