Foundations of Economics: A Beginner's Companion
Foundations of Economics breathes life into the discipline by linking key economic concepts with wider debates and issues. By bringing to light delightful mind-teasers, philosophical questions and intriguing politics in mainstream economics, it promises to enliven an otherwise dry course whilst inspiring students to do well.
The book covers all the main economic concepts an
Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. While I may have a PhD in Economics, I do not believe I have ever attended more than a few lectures on economics! But let's take things one at a time.
I was born in Athens back in the mists of 1961. Greece was, at the time, struggling to shed the post-civil war veil of totalitar ...more
Thus economics is back into the mire courtesy of Arrow’s third theorem, which dispels any hopes of a Rational Society springing from some form of advanced utility maximisation. Economics can no longer escape the political, philosophical debates which resonate across the humanities—from literature to sociology and from politics to moral philosophy. This is a good thing. At last, economics can become interesting again after a century of continuous pedantry.”
So, if freedom is more than just desire-fulfilment what does it mean to be free? No one has the definitive answer but here is a suggestion: individual freedom may be the capacity to act freely, not only in order to satisfy the preferences that are there already (the utility machine can do this admirably), but in order to create new and better preferences—in order to improve one’s self. We can do this only if we care about more than the indulgence of our current desires.”