SOAS Research Online

Abstract

Like the others in this volume, this chapter consists of three sections. But it is not able to follow the common pattern entirely because of the weakness of economics’ treatment of consumption. In the first section, this is demonstrated, and it is suggested that innovation in the analysis of consumption has mainly been based upon increasingly sophisticated technical and statistical developments but within a continuing conceptual content that is outrageously narrow. In addition, orthodox economics has been isolated from other disciplines so that the scope for interdisciplinary progress has been precluded. Section I concludes by examining the contribution made by political economy. It finds that the social significance of consumption is acknowledged but that it is insufficiently developed in relation to production. Accordingly, whether for orthodox economics or political economy, innovation in the analysis of consumption remains limited.