Inclusive Economic Theory

Steven Rosefielde and Ralph W Pfouts
Additional contact information
Steven Rosefielde: The University of North Carolina, Chapel Hill, USA
Ralph W Pfouts: The University of North Carolina, Chapel Hill, USA

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: The goal of “Inclusive Economics” is to tie together various authoritative strands of contemporary economic theory into an easily comprehensible whole that illuminates the need for a broader approach to contemporary economic policymaking undistorted by obsolete 18th century rationalist assumptions about utility, ethics, worthiness and traditional culture. This is accomplished by elaborating the rationalist competitive ideal along the optimizing lines pioneered by Paul Samuelson (neoclassical economics); plumbing modifications necessitated by Herbert Simon's realist concepts of “bounded rationality” and “satisficing”; refined further by applying a pragmatist outlook to probe the consequences of relaxing Enlightenment teleological, ethical, spiritual and cultural taboos. The exercise will explain why competitive market economies guided by rational utility-seeking invariably are less productive, efficient, just and beneficent than most theorists concede, and will illuminate the full range of interventions needed to achieve better outcomes. We call this program in its entirety “Inclusive Economics”, including the integration of micro and macroeconomics.

Keywords: Inclusive Economic Theory; Satisficing; Systems; Culture (search for similar items in EconPapers)
Date: 2014
ISBN: 9789814566643
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Citations: View citations in EconPapers (3)

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https://www.worldscientific.com/worldscibooks/10.1142/8978 (text/html)
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Chapters in this book:

Ch 1 Introduction , pp 1-3

Steven Rosefielde and Ralph W. Pfouts

Ch 2 Rational Utilitarianism , pp 7-16

Steven Rosefielde and Ralph W. Pfouts

Ch 3 Competitive Ideal , pp 17-32

Steven Rosefielde and Ralph W. Pfouts

Ch 4 Bounded Rationality , pp 33-36

Steven Rosefielde and Ralph W. Pfouts

Ch 5 Core Consumer Behavior Theory: Ideal and Realist , pp 37-59

Steven Rosefielde and Ralph W. Pfouts

Ch 6 Production and Costs , pp 61-77

Steven Rosefielde and Ralph W. Pfouts

Ch 7 Institutions , pp 79-86

Steven Rosefielde and Ralph W. Pfouts

Ch 8 Macroeconomics , pp 87-92

Steven Rosefielde and Ralph W. Pfouts

Ch 9 Governance , pp 93-97

Steven Rosefielde and Ralph W. Pfouts

Ch 10 Democracy , pp 99-103

Steven Rosefielde and Ralph W. Pfouts

Ch 11 When Reason Fails , pp 107-110

Steven Rosefielde and Ralph W. Pfouts

Ch 12 Why Reason Seldom Prevails , pp 111-116

Steven Rosefielde and Ralph W. Pfouts

Ch 13 Dangers , pp 117-129

Steven Rosefielde and Ralph W. Pfouts

Ch 14 Opportunities , pp 131-136

Steven Rosefielde and Ralph W. Pfouts

Ch 15 Umbrella of Complementary Paradigms , pp 139-141

Steven Rosefielde and Ralph W. Pfouts

Ch 16 Truth , pp 143-149

Steven Rosefielde and Ralph W. Pfouts

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