Economics: Unfit for Purpose

This paper is a shortened and revised version of the Closing Plenary given to the World Congress of the Association of Social Economics, and Cairncross Lecture, University of Glasgow, June 2012. Mainstream economics is seen as unfit for purpose because of deficiencies that have long been criticised...

Full description

Saved in:

Bibliographic Details
Published in:	Review of social economy 2013-09, Vol.71 (3), p.373-389
Main Author:	Fine, Ben
Format:	Article
Language:	eng
Subjects:	Architecture Associations Collectives Cultural Capital Economics economics and ethics economics imperialism Ethics Glasgow, Scotland Legislative Bodies purpose of economics Social Capital Socioeconomic factors Sociology Studies Universities Values
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

Description
Summary:	This paper is a shortened and revised version of the Closing Plenary given to the World Congress of the Association of Social Economics, and Cairncross Lecture, University of Glasgow, June 2012. Mainstream economics is seen as unfit for purpose because of deficiencies that have long been criticised by a marginalised heterodoxy. These include the taking out of the historical and social even if bringing them back in on the basis of a technical apparatus and architecture that is sorely inappropriate. These observations are illustrated in passing reference to social capital but are particularly appropriate for understanding the weakness of ethics within mainstream economics. An alternative is offered through taking various "entanglements" (such as facts and values) as critical point of departure, leading to the suggestion that ethical systems are subject to the 10 Cs-Constructed, Construed, Conforming, Commodified, Contextual, Contradictory, Closed, Contested, Collective and Chaotic.
ISSN:	0034-6764 1470-1162