Description
Book SynopsisA second, updated edition of this accessible and myth-dispelling introduction to our current economic system
Trade Review'Lucidly written, comprehensive in coverage, based on expert understanding and insight' -- Noam Chomsky
'Most economists worship the market, describing it as a fair, impersonal arbiter of efficiency. Robin Hahnel brilliantly debunks this religion, providing powerful explanations of market failures on both micro- and macroeconomic levels. He combines clear exposition and mathematical illustration with a compelling passion for progressive social change' -- Nancy Folbre, Professor of Economics, University of Massachusetts
'Must our economic lives be dominated by greed and competition? Free market economists have long answered 'yes'. The ABCs of Political Economy shows that what they 'know' is not so. Robin Hahnel writes with clarity, originality, verve and a relentless moral passion' -- Robert Pollin, Professor of Economics and Co-Director, Political Economy Research Institute, University of Massachusetts, Amherst
'A visionary book ahead of its time. In this second edition Robin Hahnel has done a masterful job analysing the momentous economic, social, political, and environmental events of the past decade and integrating his findings into the work. A stimulating, creative and important contribution to help us all answer the question: 'What is to be done?' in a bold, yet actionable way' -- Gar Alperovitz, author of What Then Must We Do? and America Beyond Capitalism is Lionel R. Bauman Professor of Political Economy at the University of Maryland and Co-founder of the Democracy Collaborative
Table of ContentsList of Illustrations
Preface to the Revised and Expanded Edition
1. Economics and Liberating Theory
2. What Should We Demand from Our Economy?
3. Efficiency and Economic Justice: A Simple Corn Model
4. Markets: Guided by an Invisible Hand or Foot?
5. Microeconomic Models
6. Macroeconomics: Aggregate Demand as Leading Lady
7. Money, Banks and Finance
8. International Economics: Mutual Benefit or Imperialism?
9. Macroeconomic Models
10. What Is to Be Undone? The Economics of Competition and Greed
11. What Is to Be Done? The Economics of Equitable Cooperation
Index
