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Fine, Ben (2013) Economics – Unfit for Purpose: The Director’s Cut. SOAS Department of Economics Working Paper Series, 176.

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Abstract

This paper is a lengthier 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.

Item Type: Monographs and Working Papers (Working Paper)
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > Department of Economics
ISSN: 17535816
Date Deposited: 08 Jul 2013 09:56
URI: https://eprints.soas.ac.uk/id/eprint/16706

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