Redeeming Economics: Rediscovering The Missing Element
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- Synopsis
- The thesis of this book is straightforward. The most important element in economics is missing, and its rediscovery is priming a revolution the likes of which has occurred only three times in more than 750 years. The Scholastic economics of Thomas Aquinas was comprised of four key elements: the theory of production, or how much gets produced; the theory of justice in exchange, or how one is compensated through the sale of goods for contributing to production; the theory of final distribution, or who gets to consume goods; and the theory of consumption (utility), or which goods people prefer to consume, according to Mueller (director of the Economics and Ethics Program at the Ethics and Public Policy Center, self-described as "Washington, D. C. 's premier institute dedicated to applying the Judeo-Christian moral tradition to critical issues of public policy," and president of a firm specializing in economic forecasting and policy analysis). His central argument in this text is that the oversimplification of Scholastic economics that began with Adam Smith's limiting economics to merely production and exchange and then partially corrected by the neoclassicists reincorporation of the theory of utility needs to be brought full circle by reintroducing the theory of final distribution. His goal then in this wide-ranging work is to describe for the general reader what bringing the theory of final distribution back into consideration would mean for economic theory and particularly for its practical applications. Annotation ©2011 Book News, Inc. , Portland, OR (booknews. com)
- Copyright:
- 2010
Book Details
- Book Quality:
- Excellent
- Book Size:
- 470 Pages
- ISBN-13:
- 9781932236941
- Publisher:
- ISI Books
- Date of Addition:
- 12/11/12
- Copyrighted By:
- John D. Mueller
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Daproim Africa
- Proofread By:
- Daproim Africa
- Usage Restrictions:
- This is a copyrighted book.