Overview
- Presents an integrated jurisprudential critique of neoclassical economic theory
- Focusses on conceptual mistakes in the neoclassical microeconomic theory
- Separates the science from the ideology
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Table of contents (10 chapters)
Keywords
- Property and contract
- Neoclassical microeconomic theory
- Economic realities
- Employment system
- Invisible hand
- Property mechanism
- Property theory
- Arrow-Debreu Model
- Capital theory
- Appropriation fallacy
- Marginal Productivity Theory
- Arbitrage Theory
- Market economy
- Theory of Inalienable Rights
- John Stuart Mill
- Price system
- Private property rights
- Rights-based normative economics
- Corporate Finance Theory
About this book
The book follows the tradition of John Stuart Mill as the last major political economist who considered the study of property rights as an integral part of economic theory. The conceptual criticisms presented in this book focus on the descriptive and normative misconceptions about property and contracts that are deeply embedded ideology in neoclassical economics, not to mention in the broader society. The book recognizes that the idealized microeconomic theory is not descriptive of reality and focuses its criticism on conceptual mistakes in the theory, which are even clearer due to the idealized nature of the theory.
Therefore, the book is a must-read for scholars, researchers, and students interested in a better understanding of jurisprudence in economics, neoclassical microeconomic theory, and political economy in general.
Authors and Affiliations
About the author
Bibliographic Information
Book Title: Putting Jurisprudence Back Into Economics
Book Subtitle: What is Really Wrong With Today's Neoclassical Theory
Authors: David Ellerman
DOI: https://doi.org/10.1007/978-3-030-76096-0
Publisher: Springer Cham
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 Switzerland AG 2021
Hardcover ISBN: 978-3-030-76095-3Published: 25 June 2021
Softcover ISBN: 978-3-030-76098-4Published: 26 June 2022
eBook ISBN: 978-3-030-76096-0Published: 24 June 2021
Edition Number: 1
Number of Pages: XII, 186
Number of Illustrations: 39 b/w illustrations
Topics: Political Economy/Economic Systems, Law and Economics, Heterodox Economics, Political Theory, Microeconomics