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Contending Perspectives in Economics: A Guide to Contemporary Schools of Thought
' This wise and lucid guide to pluralism in economics embodies the values of its cause. Generous, open-minded, fair, accurate and John Harvey's new book is a fine achievement that every economics major should read. '
- James K. Galbraith, The University of Texas at Austin, US ' Fifty years ago I used Robert L. Heilbroner's The Worldly Philosophers to get students excited about economics. Today I would use John T. Harvey's Contending Perspectives in Economics . The book is beautifully written and full of insights into who economists are and why they think the way they do. '
-Paul D. Bush, California State University, US ' Economics is a mess. Oppositional clans ('schools'), pseudo-science, corruption of various kinds and relentless disdain for the real-world predominate. If you are thinking of entering this war-zone, then reading John Harvey's Contending Perspectives in Economics is your best bet for retaining your intellectual health. '
- Edward Fullbrook, University of the West of England, UK ' I just finished reading the book! I feel like I learned so much from it, and not just in terms of the information itself. As I read, it stimulated so much thought I found myself writing many pages on things I'd never even thought about! '
- Marcus Schiebold, Economics Undergraduate Student, University of North Texas, US John Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers' minds and lead them in new and productive directions. In his exploration of Neoclassical, Marxist, Austrian, Post Keynesian, Institutionalist, New Institutionalist and Feminist schools of thought, unique features of each approach are highlighted, complemented by discussions of methodology, world views, popular themes, and current activities. Accurate and impartial, every chapter covering a heterodox school of thought has been vetted by an acknowledged expert in that field. Though written for use in undergraduate courses, this guide will no doubt offer a great deal to any scholar wishing to gain a fresh perspective and greater understanding of the variety and breadth of current economic thinking. Contents : 1. Introduction 2. Economics as a Scientific Discipline 3. Neoclassical Economics 4. Marxism 5. Austrian Economics 6. Post Keynesian Economics 7. Institutionalism 8. New Institutionalism 9. Feminist Economics 10. Conclusions Index
- James K. Galbraith, The University of Texas at Austin, US ' Fifty years ago I used Robert L. Heilbroner's The Worldly Philosophers to get students excited about economics. Today I would use John T. Harvey's Contending Perspectives in Economics . The book is beautifully written and full of insights into who economists are and why they think the way they do. '
-Paul D. Bush, California State University, US ' Economics is a mess. Oppositional clans ('schools'), pseudo-science, corruption of various kinds and relentless disdain for the real-world predominate. If you are thinking of entering this war-zone, then reading John Harvey's Contending Perspectives in Economics is your best bet for retaining your intellectual health. '
- Edward Fullbrook, University of the West of England, UK ' I just finished reading the book! I feel like I learned so much from it, and not just in terms of the information itself. As I read, it stimulated so much thought I found myself writing many pages on things I'd never even thought about! '
- Marcus Schiebold, Economics Undergraduate Student, University of North Texas, US John Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers' minds and lead them in new and productive directions. In his exploration of Neoclassical, Marxist, Austrian, Post Keynesian, Institutionalist, New Institutionalist and Feminist schools of thought, unique features of each approach are highlighted, complemented by discussions of methodology, world views, popular themes, and current activities. Accurate and impartial, every chapter covering a heterodox school of thought has been vetted by an acknowledged expert in that field. Though written for use in undergraduate courses, this guide will no doubt offer a great deal to any scholar wishing to gain a fresh perspective and greater understanding of the variety and breadth of current economic thinking. Contents : 1. Introduction 2. Economics as a Scientific Discipline 3. Neoclassical Economics 4. Marxism 5. Austrian Economics 6. Post Keynesian Economics 7. Institutionalism 8. New Institutionalism 9. Feminist Economics 10. Conclusions Index
- GenresEconomics
168 pages, Hardcover
Published March 30, 2015
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Displaying 1 - 2 of 2 reviews
January 23, 2023
This thin volume provides an excellent introduction to contemporary schools of economic thought that should have wide-spread appeal to any student of economics, or indeed, any economist interested in going beyond the neo-classical mainstream. While there are several volumes of a similar ilk, see for example Rethinking Economics: An Introduction to Pluralist Economics, Harvey's uniqueness lies in how he provides a framework for comparison among the various perspectives elucidated that allows for a 'conversation' among them.
The first chapter introduces the volume, but also gives a thoughtful rationale for why people need to be aware of different ways of making sense of the economy; not just to allow for a more nuanced understanding of economic activity, but at minimum to promote critical and cognitive thinking skills. The second chapter outlines precisely the rationale behind the dominance of neo-classical economics and why it does not reside with this school's explanatory and/or predictive power. I loved/hated this chapter as Harvey takes us through the career path of an economics student, graduate school, obtaining tenure and so forth to introduce the institutional background of why neoclassical economics became dominant today and remains so.
Following these two chapters, Harvey basically gives 'in a nut shell' eight different schools of economic thought (neoclassical, marxian, Austrian, post-keynesian, institutional, new institutional, feminist and ecological) along with a basis to compare them. This basis consists first of the overall world view of the school, e.g., the ideological and philosophical lens through which members see the real world, the unquestioned 'axioms' or assumptions that undergird each perspective, a primer on their methodology and finally, on how they employ theories and models. He also gives a few pages on what each school embraces as 'social justice' (e.g., a 'good economic outcome') and why, some critiques of the school, and a 'final rejoinder' where members of these schools of thought were allowed to address their critics.
Members of these various schools will all probably have some complaints as Harvey tried to present the most 'common' features of each school as simply as possible, removing some of the complexity and depth from the perspectives. Also, treating some of these schools as 'a' school of thought is inherently problematic; for example, marxian economists come in several flavors replete with mutual antagonism among them. Nonetheless, Harvey provides a useful starting point to any of these schools and several links at the end of each chapter were you can find out more about the perspective, from each schools leading journals, associations, blogs and whatnot.
Contenting Perspectives is more, therefore, than a collection of essays from various proponents of schools of thought depicting them briefly as Harvey provides a common framework to compare them. I should also note that this is not technical and very little math/equations litter the pages, making it assessible to non-grad students and so forth. The philosophy employed is also assessible, being at an upper level undergraduate level. Finally, Harvey also manages to give each school a fair shake, continually explaining that each school has their own strengths and weaknesses and how they can and often do complement each other when used to explain economic events. Kudos for this this excellent little volume Harvey! 5 stars!!
The first chapter introduces the volume, but also gives a thoughtful rationale for why people need to be aware of different ways of making sense of the economy; not just to allow for a more nuanced understanding of economic activity, but at minimum to promote critical and cognitive thinking skills. The second chapter outlines precisely the rationale behind the dominance of neo-classical economics and why it does not reside with this school's explanatory and/or predictive power. I loved/hated this chapter as Harvey takes us through the career path of an economics student, graduate school, obtaining tenure and so forth to introduce the institutional background of why neoclassical economics became dominant today and remains so.
Following these two chapters, Harvey basically gives 'in a nut shell' eight different schools of economic thought (neoclassical, marxian, Austrian, post-keynesian, institutional, new institutional, feminist and ecological) along with a basis to compare them. This basis consists first of the overall world view of the school, e.g., the ideological and philosophical lens through which members see the real world, the unquestioned 'axioms' or assumptions that undergird each perspective, a primer on their methodology and finally, on how they employ theories and models. He also gives a few pages on what each school embraces as 'social justice' (e.g., a 'good economic outcome') and why, some critiques of the school, and a 'final rejoinder' where members of these schools of thought were allowed to address their critics.
Members of these various schools will all probably have some complaints as Harvey tried to present the most 'common' features of each school as simply as possible, removing some of the complexity and depth from the perspectives. Also, treating some of these schools as 'a' school of thought is inherently problematic; for example, marxian economists come in several flavors replete with mutual antagonism among them. Nonetheless, Harvey provides a useful starting point to any of these schools and several links at the end of each chapter were you can find out more about the perspective, from each schools leading journals, associations, blogs and whatnot.
Contenting Perspectives is more, therefore, than a collection of essays from various proponents of schools of thought depicting them briefly as Harvey provides a common framework to compare them. I should also note that this is not technical and very little math/equations litter the pages, making it assessible to non-grad students and so forth. The philosophy employed is also assessible, being at an upper level undergraduate level. Finally, Harvey also manages to give each school a fair shake, continually explaining that each school has their own strengths and weaknesses and how they can and often do complement each other when used to explain economic events. Kudos for this this excellent little volume Harvey! 5 stars!!
December 26, 2020
Very comprehensive and elaborately written.
Displaying 1 - 2 of 2 reviews