Humanization of Economics: Origin and Development: Origin and Development

Author: Mark A. Lutz
Publisher:
Publish Date: 2003-04-01
Features: This book includes two parts: microeconomic theory and macroeconomic theory. At the micro level, it questions the logical basis of the assumptions about human behavior: the assumption of rational economic man pursuing utility maximization. It also explains and critiques the costs of human competition that mainstream economics fails to see, and points out the misleading aspects of the classic doctrine of comparative advantage. Regarding macroeconomics, it emphasizes the possibility of a crisis caused by insufficient consumption due to increasing economic inequality. Moreover, it examines the belief of mainstream economics that the economy can grow infinitely under limited natural resources, and finds that this phenomenon does not exist at all. Without a doubt, all the macro and micro issues discussed are closely related to students, policy analysts, and civil servants in the global economic system.