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Chicago Fundamentalism
"Cold war ideology infected the development of economics in ways its practitioners were often not fully aware. The Chicago counter-revolution against the dominant post-war triumph of Keynesian analysis had an essential subtext, a perceived struggle between freedom and collective slavery, ideological objectives subsequently influenced methodological concerns, pushing economists to adopt the zero-sum tactics of the courtroom rather than the mutually beneficial manners of the senior common room. In these ideologically charged times, economists stopped reading opposing views carefully, seeking instead to dismiss, out of hand uncongenial ideas." "In this collection of previously published and new material, Craig Freedman examines the problem of ideology through the reflection cast by the architects of the Chicago counter-revolution, George Stigler and Milton Friedman. The second half of the volume demonstrates the legacy of these ideological fires, namely a profession where the methodology of careless reading and zero-sum exchanges have persisted and come to dominate."--BOOK JACKET.
Chicago Fundamentalism
Cold-war ideology infected the development of economics in ways its practitioners were often not fully aware. The Chicago counter-revolution against the dominant post-war triumph of Keynesian analysis had an essential subtext, a perceived struggle between freedom and collective slavery. Ideological objectives subsequently influenced methodological concerns, pushing economists to adopt the zero-sum tactics of the courtroom rather than the mutually beneficial manners of the senior common room. In these ideologically charged times, economists stopped reading opposing views carefully, seeking instead to dismiss, out of hand, uncongenial ideas.In this collection of previously published and new material, Craig Freedman examines the problem of ideology through the reflection cast by the architects of the Chicago counter-revolution, George Stigler and Milton Friedman. The second half of the volume demonstrates the legacy of these ideological fires, namely a profession where the methodology of careless reading and zero-sum exchanges have persisted and come to dominate.
In Search of the Two-Handed Economist
For the economics profession, issues of marketing and ideology have often been reduced to the status of 'the love that dare not speak its name'. This volume brings these issues out of the closet and examines what effect, if any, these factors have in shaping the contours of the discipline. The way in which economists face policy issues is in part driven, even if only subconsciously, by unacknowledged ideological concerns and the increasing need to sell one's theories, views and policies in a frustratingly competitive academic market. In seven carefully and provocatively granulated chapters, the volume raises possible implications of these marketing and ideological imperatives by approaching the problem from a number of surprising and irreverent directions. Though unfortunately, in its irrevocable denouement the text proves incapable of creating anything resembling a life changing experience let alone coming to any definite and irrefutable conclusions. Like life itself, economics is full of uncertainties and uncontrollable difficulties.
Where Economics Went Wrong
How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully dis...
George Stigler
George Stigler (1911-1991) was unquestionably one of the post-war giants of the economics profession. Along with such compatriots as Milton Friedman, Aaron Director, Gary Becker and others at Chicago, he would manage to radically reshape the contours of the discipline, engineering a virtual counter-revolution against the previous post-war consensus. Stigler essentially pioneered the fields of industrial organisation and regulatory economics while contributing landmark studies to the history of economic thought. George Stigler was awarded a much-deserved Nobel Prize in 1982. At heart always a shy boy from the provinces, defending himself and his beliefs against the demands of a more wicked an...
Tales of Narcissus
The Greek myth of Narcissus, like any other moral tale, warns its readers against the dangers of self absorption. In their new edited volume, Craig Freedman and Rick Szostak gather together a collection of fables and tales to warn the economics profession against parallel pitfalls in their own activities. Academics in this field have all too often been seduced by the dazzling reflection produced by their own theoretical constructs. This collection is meant to serve as required bedside reading for all economists, a serious if light-hearted look at the foibles currently plaguing the profession. Rather than committing the venial sin of didactic lecturing, the editors let economists speak for themselves in a series of reprinted articles. Intentionally or not, these articles illustrate the intractable blemishes currently disfiguring the face of economics. The reprints are by such noted economists as Blinder, Bronfenbrenner, Fair, Katzner, Learner, Leijonhufvud, and others. This thought-provoking range of ideas is further supplemented by the editors who tease out the underlying issues by means of their own original contributions.
The Japanese Economy
This textbook offers an accessible guide to the Japanese economy. Japan developed from a defeated country following World War II into a dominant economic power in the 1980s. But much to the surprise of the World, the country collapsed into a persistently troubled economic reality beginning in the 1990s. This textbook provides students with an understanding of how the Japanese economy works, while exploring the way in which economic reasoning can be employed to analyse the specifics of any economy. Part Iexplains how economies can be fruitfully analysed while outlining what is different about the Japanese economy in terms of structure and institutions. Part IIlooks at the supply side of the J...
