A thorough introduction and questinos for considerations accompany the full text of Louis Brandeis's 1914 work.

    It limps along with one foot in untested hypotheses and the other in untestable slogans. Here our task is to sort out as best we may this mixture of ideology and science.- With these provocative words, Joan Robinson introduces this lively and iconoclastic book. -In what follows, - she says, -this theme is illustrated by reference to one or two of the leading ideas of the economists from Adam Smith onwards, not in a learned manner, tracing the development of thought, nor historically, to show how ideas arose out of the problems of each age, but rather an attempt to puzzle out the mysterious way that metaphysical propositions, without any logical content, can yet be a powerful influence on thought and action.- Robinson is responsible for some of the most austerely professional contributions to economic theory, but here in effect she takes the reader behind the scenes and cheerfully exposes the dogmatic content of economic orthodoxy. In its place, she offers the possibility that with obsolete metaphysics cleared out of the way economics can make a substantial advance toward science. .

    Is this phenomenon the end of neoliberalism or its monstrous offspring?In the Ruins of Neoliberalism casts the hard-right turn as animated by socioeconomically aggrieved white working- and middle-class populations but contoured by neoliberalism’s multipronged assault on democratic values. From its inception, neoliberalism flirted with authoritarian liberalism as it warred against robust democracy. It repelled social-justice claims through appeals to market freedom and morality. It sought to de-democratize the state, economy, and society and re-secure the patriarchal family. In key works of the founding neoliberal intellectuals, Wendy Brown traces the ambition to replace democratic orders with ones disciplined by markets and traditional morality and democratic states with technocratic ones.Yet plutocracy, white supremacy, politicized mass affect, indifference to truth, and extreme social disinhibition were no part of the neoliberal vision. Brown theorizes their unintentional spurring by neoliberal reason, from its attack on the value of society and its fetish of individual freedom to its legitimation of inequality. Above all, she argues, neoliberalism’s intensification of nihilism coupled with its accidental wounding of white male supremacy generates an apocalyptic populism willing to destroy the world rather than endure a future in which this supremacy disappears.

    If Mises's Human Action was the culmination of the School from Menger's time, Rothbard's treatise takes Austrian thought even further in the areas of utility and welfare economics, antitrust, labor, taxation, public goods, and social insurance schemes. Inconsistencies are ironed out and the system of thought, in all its logical rigor, is unbroken. More than any book, Man, Economy, and State taught economics to the post-Mises generation. It refutes still-common errors among the mainstream and grapples with the post-war Keynesian literature point by point. The impact of this work was also enhanced by its breathtaking logic and clarity, even in the most difficult subject areas. Special insights along the way include a full critique of government statistics and the Fed's definitions of the money supply. Nearly twenty-five years after it first appeared in print, it remains the standard bearer for the Austrian School.

    Although he was throughout his life interested in the philosophy of history and in various theoretical formulations, he concerned himself with these mainly in private reading and private discussion. Why then did he write this essay? He had read the works of Louis Althusser and found very little in them to affect his work. When Althusser appeared on the scene he made little impact on practising historians. For some reason however, he suddenly became a major force among graduate students and some young historians and literary scholars. Most historians would have been prepared to wait for the new influence to demonstrate its validity in the production of innovative work in history; not only did this not happen, but Althusser's followers - even some of the historians among them - began to declare that history was a non-discipline and that its study was of no value. It was the influence that Althusser's writings were having on scholarship that made Edward take on the uncongenial task of putting the case for history against his closed system.'The result is a major critique of Althusserian Marxism, or 'theoretical practice', entering closely into questions of epistemology and of the theory and practice of the historian. Around this detailed polemic, Thompson develops a constructive view of an alternative, socialist tradition, empirical and self-critical in method, and fully open to the creative practice evidenced by history - a tradition sharply opposed to much that now passes as 'Marxism'. In converging shafts of close analysis and Swiftian irony, the author defoliates Althusser's arcane, rationalist rhetoric and reinstates 'historicism', 'empiricism', 'moralism' and 'socialist humanism' in a different Marxist inheritance.The title of this essay echoes The Poverty of Philosophy, Marx's annihiliating attack on Proudhon, which, like Engels' Anti-Duhring, is a work read long after its subject has been consigned to oblivion.

    Now revised and updated to include expanded coverage of monetary policy, this volume traces the history of macroeconomics and the evolution of macroeconomic thought and the resulting theory and policy.

    The discoveries made, however, are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macro economic spectrum of possibilities that conventional theorists have overlooked. In particular, Japan's Great Recession showed that when faced with a massive fall in asset prices, companies typically jettison the conventional goal of profit maximization and move to minimize debt in order to restore their credit ratings. This shift in corporate priority, however, has huge theoretical as well as practical implications and opens up a whole new field of study. For example, the new insight can explain fully the precise mechanism of prolonged depression and liquidity trap which conventional economics - based on corporate profit maximization - has so far failed to offer as a convincing explanation. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory, i.e., the Holy Grail of macro economics The policy implication of this new discovery is immense in that the conventional aversion to fiscal policy in favor of monetary policy will have to be completely reversed when the economy is in the yin phase. The theoretical implications are also immense in the sense that the economics profession will no longer have to rely so much on various rigidities to explain recessions that have become the standard practice within the so-called New Keynesian economics of the last twenty years.

    This second edition, newly introduced by Marcuse scholar Douglas Kellner, presents Marcuse's best-selling work to another generation of readers in the context of contemporary events.

    These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes.Paraphrasing Milton Friedman, MacKenzie says that economic models are an engine of inquiry rather than a camera to reproduce empirical facts. More than that, the emergence of an authoritative theory of financial markets altered those markets fundamentally. For example, in 1970, there was almost no trading in financial derivatives such as "futures." By June of 2004, derivatives contracts totaling $273 trillion were outstanding worldwide. MacKenzie suggests that this growth could never have happened without the development of theories that gave derivatives legitimacy and explained their complexities.MacKenzie examines the role played by finance theory in the two most serious crises to hit the world's financial markets in recent years: the stock market crash of 1987 and the market turmoil that engulfed the hedge fund Long-Term Capital Management in 1998. He also looks at finance theory that is somewhat beyond the mainstream -- chaos theorist Benoit Mandelbrot's model of "wild" randomness. MacKenzie's pioneering work in the social studies of finance will interest anyone who wants to understand how America's financial markets have grown into their current form.

    It shouldn't take a worldwide pandemic and nationwide protests to bring economic and racial inequality to the forefront of problems we desperately need to solve. But now that the opportunity is here, what should we do? How can we create more equality, opportunity, and growth for everyone? Not someday, but what can government and the private sector do right now to disrupt a status quo that almost everyone wants to change?In Common Sense, the New York Times best-selling author Joel Greenblatt offers an investor's perspective on building an economy that truly works for everyone. With dry wit and engaging storytelling, he makes a lively and provocative case for disruptive new approaches--some drawn from personal experience, some from the outside looking in. How can leading corporations immediately disrupt our education establishment while creating high-paying job opportunities for those currently left behind? If we want a living wage for everyone, how can we afford it while using an existing program to get it done now? If we subsidize banks, what simple changes can we make to the way we capitalize and regulate them to help grow the economy, increase access, and create more jobs (while keeping the risks and benefits where they belong)? Greenblatt also explains how dramatically increasing immigration would be like giving every American a giant bonus and the reason Australia might be the best place to learn about saving for retirement.Not everyone will agree with what Greenblatt has to say--but all of us can benefit from the conversations he aims to start.

    He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes.""The achievement of The Fatal Conceit is that it freshly shows why socialism must be refuted rather than merely dismissed—then refutes it again."—David R. Henderson, Fortune."Fascinating. . . . The energy and precision with which Mr. Hayek sweeps away his opposition is impressive."—Edward H. Crane, Wall Street JournalF. A. Hayek is considered a pioneer in monetary theory, the preeminent proponent of the libertarian philosophy, and the ideological mentor of the Reagan and Thatcher "revolutions."

    In this highly praised new work, destined to attract worldwide attention and support, Michael Albert provides an answer: Participatory Economics, ‘Parecon’ for short, a new economy, an alternative to capitalism, built on familiar values including solidarity, equity, diversity and people democratically controlling their own lives, but utilizing original institutions fully described and defended in the book.

    Andrej Grubacic is an anarchist from the Balkans. Staughton Lynd is a lifelong pacifist, influenced by Marxism. They meet in dialogue in an effort to bring together the anarchist and Marxist traditions, to discuss the writing of history by those who make it, and to remind us of the idea that "my country is the world." Encompassing a Left libertarian perspective and an emphatically activist standpoint, these conversations are meant to be read in the clubs and affinity groups of the new Movement. The authors accompany us on a journey through modern revolutions, direct actions, anti-globalist counter summits, Freedom Schools, Zapatista cooperatives, Haymarket and Petrograd, Hanoi and Belgrade,  "intentional" communities, wildcat strikes, early Protestant communities, Native American democratic practices, the Workers' Solidarity Club of Youngstown, occupied factories, self-organized councils and soviets, the lives of forgotten revolutionaries, Quaker meetings, antiwar movements, and prison rebellions. Neglected and forgotten moments of interracial self-activity are brought to light. The book invites the attention of readers who believe that a better world, on the other side of capitalism and state bureaucracy, may indeed be possible.

    economy has become dependent on financial activities has been made abundantly clear. In "Capitalizing on Crisis," Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation.Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state's attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979.Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.

    In addition to new information provided throughout this classic study, the new Part Six, "Deng Xiaoping and the Origins of Chinese Capitalism: 1976-1998," analyzes the country's uneasy relationships with democracy, socialism, and capitalism. Meisner incisively displays the contrasts between China's speech and actions regarding these subjects. Retaining the elegance, lucidity, fairness, insightfulness, and comprehensiveness he is known for, Meisner moves far beyond his previous work to paint a never-before-seen portrait of the political and social realities of China on the brink of the millennium, and the global implications of its rise to economic and political power.