Against Utility-Based Economics: On a Life-Based Approach - Brossura

Libro 145 di 379: Routledge Frontiers of Political Economy

Korkotsides, Anastasios

 
9781138686137: Against Utility-Based Economics: On a Life-Based Approach
Brossura
ISBN 10: 1138686131 ISBN 13: 9781138686137
Casa editrice: Routledge, 2016

Sinossi

Utility-based theory and the fallback choice-theoretic framework are shown to be biased, irremediably flawed and misleading. A radically different theory of value and of consumer behaviour is proposed based on existential interpretations of scarcity, value and self-interest. For self-conscious mortals, only time is scarce. All other is derivative scarcity. Value is in the life, as a knowledge extract of time, which goes into commodities as direct human labour and depreciated capital, through their production. By structuring their preferences, consumers try to confiscate more of such value per unit of expended income, extending their social presence, soothing their angst and gaining power over each other. This raises output and makes gains cancel out. Negative psychological externalities preclude any well-being or social-welfare type conclusion.

These resolve a number of long-standing issues: endogenously generated growth, the micro-macro connection, the price mechanism, crises, unemployment, etc. Equilibrium is of a low-potential kind, not of a force-balancing one, and it is unique, reachable and stable. The relevant analytics involve purely economic, non-psychological entities. Consumer behaviour is grounded on a well-defined, structure-based decision criterion and on observably measurable magnitudes, only. The social ramifications of the two juxtaposed perspectives are discussed at length.

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Informazioni sull'autore


Anastasios S. Korkotsides

is Assistant Professor, Faculty of Economics, University of Athens, Greece.

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Editore
Routledge
Data di pubblicazione
2016
Lingua
Inglese
ISBN 10 
1138686131
ISBN 13 
9781138686137
Rilegatura
Copertina flessibile
Numero edizione
1
Numero di pagine
296
Contatto del produttore
non disponibile
Persona responsabile
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Altre edizioni note dello stesso titolo

9780415829632: Against Utility-Based Economics: On a Life-Based Approach

Edizione in evidenza

ISBN 10:  0415829631 ISBN 13:  9780415829632
Casa editrice: Routledge, 2013
Rilegato