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Beyond the Invisible Hand: Groundwork for a New Economics by Kaushik Basu (Hardcover, 2010)

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One of the central tenets of mainstream economics is Adam Smith's proposition that, given certain conditions, self-interested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. This deep insight has, over the past two centuries, been taken out of context, contorted, and used as the cornerstone of free-market orthodoxy. In Beyond the Invisible Hand, Kaushik Basu argues that mainstream economics and its conservative popularizers have misrepresented Smith's insight and hampered our understanding of how economies function, why some economies fail and some succeed, and what the nature and role of state intervention might be. Comparing this view of the invisible hand with the vision described by Kafka--in which individuals pursuing their atomistic interests, devoid of moral compunction, end up creating a world that is mean and miserable--Basu argues for collective action and the need to shift our focus from the efficient society to one that is also fair. Using analytic tools from mainstream economics, the book challenges some of the precepts and propositions of mainstream economics. It maintains that, by ignoring the role of culture and custom, traditional economics promotes the view that the current system is the only viable one, thereby serving the interests of those who do well by this system. Beyond the Invisible Hand challenges readers to fundamentally rethink the assumptions underlying modern economic thought and proves that a more equitable society is both possible and sustainable, and hence worth striving for. By scrutinizing Adam Smith's theory, this impassioned critique of contemporary mainstream economics debunks traditional beliefs regarding best economic practices, self-interest, and the social good.

Product Identifiers

Publisher
Princeton University Press
ISBN-13
9780691137162
eBay Product ID (ePID)
93022728

Product Key Features

Author
Kaushik Basu
Publication Name
Beyond the Invisible Hand: Groundwork for a New Economics
Format
Hardcover
Language
English
Subject
Economics
Publication Year
2010
Type
Textbook
Number of Pages
312 Pages

Dimensions

Item Height
235mm
Item Width
152mm
Item Weight
539g

Additional Product Features

Title_Author
Kaushik Basu
Country/Region of Manufacture
United States

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Beyond the Invisible Hand: Groundwork for a New Economics by Kaushik Basu (Hardcover, 2010)

Best-selling in Adult Learning & University

Secrets Of Mental Math: The Mathemagician's Guide to Lightening Calculation and Amazing Maths Tricks by Arthur Benjamin, Michael Shermer (Paperback, 2006)

The Manipulated Man by Esther Vilar (Paperback, 2008)

Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss, Tahl Raz (Paperback, 2017)

The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel (Paperback, 2020)

Die with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (Paperback, 2021)

Adult Children of Emotionally Immature Parents: How to Heal from Distant, Rejecting, or Self-Involved Parents by Lindsay C Gibson (Paperback, 2015)

Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude by Mark Douglas (Hardcover, 2001)

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