What are Alternative Views in Economics?

Eli P Cox

Chapter 10 in Seeking Adam Smith:Finding The Shadow Curriculum of Business, 2017, pp 173-193 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The economics discipline is broad, diverse, and dynamic, and many of its premises, theories, and findings are inconsistent. Research within the mainstream and its growing eddies has enabled me to see the shortcomings of mainstream economics. Four examples follow. First, I discuss the use of games as a metaphor for commerce, employed by both Adam Smith and Milton Friedman. Second, Friedman’s concept of the natural history of government regulation reveals the importance of trust to the success of free markets. Third, the disagreement concerning whether the most essential trait of free market capitalism is competition or cooperation is considered. Finally, I argue that monopolistic competition is far superior to perfect competition as the primary theoretical foundation of business school curricula.

Keywords: Financial Crises; United States; Corporations; Moral and Ethical Aspects; Business Education; Business Ethics; Economics-Moral and Ethical Aspects; Adam Smith (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789813206748_0010 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789813206748_0010 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813206748_0010

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().