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" The ABCs of political economy : "
Robin Hahnel.
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BL
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| Record Number
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633167
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dltt
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| Main Entry
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Hahnel, Robin
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| Title & Author
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The ABCs of political economy : : a modern approach /\ Robin Hahnel.
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| Edition Statement
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Revised and expanded edition.
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| Page. NO
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xiv, 334 pages :: illustrations ;; 21 cm
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| ISBN
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9780745334981
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: 0745334989
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: 9780745334974
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: 0745334970
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9781783712069
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1783712066
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9781783712083
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1783712082
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9781783712076
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1783712074
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Economics and Liberating Theory -- People and Society -- The Human Center -- Natural, Species, and Derived Needs and Potentials -- Human Consciousness -- Human Sociability -- Human Character Structures -- The Relation of Consciousness to Activity -- The Possibility of Detrimental Character Structures -- The Institutional Boundary -- Why Must There Be Social Institutions? -- Complementary Holism -- Four Spheres of Social Life -- Relations between Center, Boundary, and Spheres -- Social Stability and Social Change -- Agents of History -- Applications -- 2. What Should We Demand from Our Economy? -- Economic Justice -- Increasing Inequality of Wealth and Income -- Different Conceptions of Economic Justice -- Efficiency -- The Pareto Principle -- The Efficiency Criterion -- Seven Deadly Sins of Inefficiency -- Endogenous Preferences -- Self-management -- Solidarity -- Variety -- Sustainability -- Weak versus Strong versus Environmental Sustainability -- A Workable Definition of Sustainable Development -- Growth -- Conclusion -- 3. Efficiency and Economic Justice: A Simple Corn Model -- Model 3.1 A Domestic Corn Economy -- Situation 1 Inegalitarian Distribution of Scarce Seed Corn -- Autarky -- Labor Market -- Credit Market -- Situation 2 Egalitarian Distribution of Scarce Seed Corn -- Autarky -- Labor Market -- Credit Market -- Conclusions from the Domestic Corn Model -- Generalizing Conclusions -- Economic Justice in the Corn Model -- Economic Justice, Exploitation, and Alienation -- Occupy Wall Street -- Model 3.2 A Global Corn Economy -- 4. Markets: Guided by an Invisible Hand or Foot? -- How Do Markets Work? -- What Is a Market? -- The "Law" of Supply -- The "Law" of Demand -- The "Law" of Uniform Price -- The Micro "Law" of Supply and Demand -- Elasticity of Supply and Demand -- The Dream of a Beneficent Invisible Hand -- The Nightmare of a Malevolent Invisible Foot -- Externalities: The Auto Industry -- Public Goods: Pollution Reduction -- Green Consumerism -- The Prevalence of External Effects -- Snowballing Inefficiency -- Market Disequilibria -- Conclusion: Market Failure Is Significant -- Markets Undermine the Ties That Bind Us -- 5. Microeconomic Models -- Model 5.1 The Public Good Game -- Model 5.2 The Price of Power Game -- The Price of Patriarchy -- Conflict Theory of the Firm -- Model 5.3 Climate Control Treaties -- Model 5.4 The Sraffa Model of Income Distribution and Prices -- The Sraffa Model -- Technical Change in the Sraffa Model -- Technical Change and the Rate of Profit -- A Note of Caution -- Producers and Parasites -- 6. Macroeconomics: Aggregate Demand as Leading Lady -- The Macro "Law" of Supply and Demand -- Aggregate Demand -- Consumption Demand -- Investment Demand -- Government Spending -- The Pie Principle -- The Simple Keynesian Closed Economy Macro Model -- Fiscal Policy -- The Fallacy of Say's Law -- Income Expenditure Multipliers -- Other Causes of Unemployment and Inflation -- Myths about Inflation -- Myths about Deficits and the National Debt -- The Balanced Budget Ploy -- Wage-Led Growth -- 7. Money, Banks, and Finance -- Money: A Problematic Convenience -- Banks: Bigamy Not a Proper Marriage -- Monetary Policy: Another Way to Skin the Cat -- The Relationship between the Financial and "Real" Economies -- The Financial Crisis of 2008: A Perfect Storm -- 8. International Economics: Mutual Benefit or Imperialism? -- Why Trade Can Increase Global Efficiency -- Comparative, Not Absolute, Advantage Drives Trade -- Why Trade Can Decrease Global Efficiency -- Inaccurate Prices Can Misidentify Comparative Advantage -- Unstable International Markets Can Cause Macro Inefficiencies -- Adjustment Costs Are Not Always Insignificant -- Dynamic Inefficiency -- Why Trade Usually Aggravates Global Inequality -- Unfair Distribution of the Benefits of Trade between Countries -- Unfair Distribution of the Costs and Benefits of Trade within Countries -- Why International Investment Could Increase Global Efficiency -- Why International Investment Often Decreases Global Efficiency -- Why International Investment Usually Aggravates Global Inequality -- Open Economy Macroeconomics -- International Currency Markets -- Aggregate Supply and Demand in the Open Economy Model -- Income Expenditure Multipliers in the Open Economy Model -- Capital Flows in the Open Economy Model -- Monetary Unions and the Eurozone -- 9. Macroeconomic Models -- Model 9.1 Finance -- Bank Runs -- International Financial Crises -- Conclusion -- Model 9.2 Finance in Real Corn Economies -- Banks in a Domestic Corn Model -- Autarky -- Imperfect Lending without Banks -- Lending with Banks When All Goes Well -- Lending with Banks When All Does Not Go Well -- International Finance in a Global Corn Economy Revisited -- Model 9.3 Macroeconomic Policy in a Closed Economy -- Model 9.4 Macroeconomic Policy in an Open Economy -- An IMF Conditionality Agreement with Brazil -- EC Austerity Policy and Greece -- Model 9.5 A Political Economy Growth Model -- The General Framework -- A Keynesian Theory of Investment -- A Marxian Theory of Wage Determination -- Solving the Model -- An Increase in Capitalists' Propensity to Save -- An Increase in Capitalists' Propensity to Invest -- An Increase in Workers' Bargaining Power -- Wage-Led Growth -- 10. What Is to Be Undone? The Economics of Competition and Greed -- Myth 1 Free Enterprise Equals Economic Freedom -- Myth 2 Free Enterprise Promotes Political Freedom -- Myth 3 Free Enterprise Is Efficient -- Biased Price Signals -- Conflict Theory of the Firm -- Myth 4 Free Enterprise Reduces Discrimination -- Myth 5 Free Enterprise Is Fair -- Myth 6 Markets Equal Economic Freedom -- Myth 7 Markets Are Fair -- Myth 8 Markets Are Efficient -- What Went Wrong? -- Neoliberal Capitalism in Crisis -- 11. What Is to Be Done? The Economics of Equitable Cooperation -- Not All Capitalisms Are Created Equal -- Keynesian Reforms -- Taming Finance -- Reducing Economic Injustice -- Beyond Capitalism -- Worker and Consumer Empowerment -- Worker-Owned Cooperatives -- Market Socialism -- Democratic Planning -- Participatory Economics -- From Here to There -- The Future Economy -- Conclusion -- A Green New Deal.
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| Subject
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Economics.
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| Subject
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Economics-- Political aspects.
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Business and politics.
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Capitalism.
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| LC Classification
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HB74.P65H34 2014
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| Parallel Title
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Political economy
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