Overview
- Compares the vision of neoclassical economics of capitalism to that of Marxian economics
- Assesses neoclassical economics and Marxian economics in the light of the recent experiences of capitalist and socialist countries
- Introduces the readers to both neoclassical economics and Marxian economics
- Explains why neoclassical economics may be regarded as economics that seeks to further the interest of the rich
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Table of contents (7 chapters)
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Front Matter
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Back Matter
Keywords
About this book
The book compares neoclassical and Marxian economics and points out that both the schools of thought seek to analyze how a capitalist society functions. The authors show that the neoclassical economics vindicates capitalism and prescribes policies that further the interest of the rich (giant capitalists), who own most of the non-human productive resources of the economy, whereas Marxian analysis yields the result that a capitalist society is exploitative and crisis-prone. Marxian economics also suggests that the class struggle inherent in a capitalist society will eventually transform it into an equal, just and humane socialist society
The book also presents Keynesian theory, which suggests measures that can counter at least some of the crises that Marx said a capitalist country is subject to. It discusses the current state of the capitalist world, the recent crises it was subject to and assesses the three theories in the light of these experiences. It recounts the current states of two important socialist states, namely, China and Cuba. It discusses the economic performance of Soviet Union since its birth and explains the reasons for its disintegration. It compares economic performances of the capitalist and the socialist states and assesses in the light of the experiences of these two blocs of countries which school of thought is more acceptable and closer to the truth.
Authors and Affiliations
About the authors
Chandana Ghosh, Assistant Professor, Economic Research Unit, Indian statistical Institute, Kolkata,
India. Dr. Ghosh has written three books (co-authored with Ambar Nath Ghosh), titled, ‘Economics of the Public Sector’ (2008), ‘Public Finance’ (2nd Edition), ‘Macroeconomics’ (2011) and ‘Indian Economy: A Macro-Theoretic Analysis’ (2016).
Bibliographic Information
Book Title: An Introduction to Economics
Book Subtitle: Economic Theory and Society
Authors: Chandana Ghosh, Ambar Nath Ghosh
DOI: https://doi.org/10.1007/978-981-15-1056-4
Publisher: Palgrave Pivot Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2019
Hardcover ISBN: 978-981-15-1055-7Published: 15 January 2020
eBook ISBN: 978-981-15-1056-4Published: 14 January 2020
Edition Number: 1
Number of Pages: XVI, 191
Number of Illustrations: 14 b/w illustrations
Topics: Public Economics, Development Economics, Social Choice/Welfare Economics/Public Choice/Political Economy, Asian Economics