Social Costs Today: Institutional Analyses of the Present Crises

1st Edition

Wolfram Elsner, Pietro Frigato, Paolo Ramazzotti

Routledge
Published December 5, 2016
Reference
ISBN 9781138243477 - CAT# Y312267
Series: Routledge Frontiers of Political Economy

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Summary

 

This book deals with the current crises from a somewhat different the usual perspectives. It claims that causes and policy implications of these crises cannot be properly assessed by focusing on allocative efficiency or income growth alone; it requires a more general approach, based on social costs. It does not deal with social costs according to the Pigouvian or the Coasian traditions. It draws on the work of Original Institutional Economics (OIE) such as Thorstein Veblen, Karl William Kapp, and Karl Polanyi, on Post-Keynesians such as Hyman Minsky and, in general, on authors who have provided insights beyond the conventional wisdom of economic thought.

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