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The Quality of Society, 1st ed. 2019 Essays on the Unified Theory of Capitalism

Langue : Anglais

Auteur :

Couverture de l’ouvrage The Quality of Society

This book explores the policy implications of the unified theory of capitalism?how economic growth has led to a new epoch, the Anthropocene, and it presents a new set of economic principles that are needed in this new age. The unified theory of capitalism has been published as a new scientific endeavor, attempting to present new economics for the Anthropocene age that are empirically verifiable and fully consistent with the physical sciences.

 

This book elaborates on the implications of the unified theory for both the science of economics and for public policies. In particular, this book develops in more detail the policy implications, discussing the fundamental economic and societal policy issues of our time?employment, inequality, the environment, and quality of life?in empirical terms.


Chapter 1. Introduction
Chapter 2. The Unified Theory of Capitalism: An Overview
The facts to be explained
Seeking scientific explanations
Unified theory of capitalism: Foundations
The evolutionary model
Quality of society
Science-based public policies
Comparisons with standard economics
Chapter 3. Science is Epistemology
The alpha-beta method
Causality in mechanical processes
Causality in the evolutionary process
On alternatives to the alpha-beta method
Against deductivism and inductivism
The complexity of accepting/rejecting economic theories
Conclusions
Chapter 4. Path Dependence and the Economic Process
Some analytical distinctions
Economic theory of colonialism: An outline
Colonial legacy in the unified theory of capitalism
Endurance of colonial institutions under capitalism
Explaining the origin of Western economic supremacy
Path dependence and institutions
Conclusions
Chapter 5. Population and the Quality of Society
A dynamic model with exogenous population
Dynamic model with endogenous population
Economic growth as entropic process
Population density effect
Conclusions
Chapter 6. Unified Theory of Capitalism and Bio-Economics
Foundations of bio-economics
Capitalist model of bio-economics
The workings of the model
Beta propositions
Comparing the unified theory of capitalism and bio-economics
Conclusions
Chapter 7. Individualism in the Anthropocene Age
The nature of economic growth under capitalism
Human behavior evolution
The myth of competition
The freedom discourse
Individual freedom and social responsibility
Corporate social responsibility (CSR)
Crime responsibility
Individualism question in the Anthropocene Age
Individualism and quality of society
Conclusions
Chapter 8. Science-Based Public Policies
Positive and normative propositions
The case of neoclassical economics
The case of unified theory of capitalism
Poverty vs inequality
Income redistribution effect vs economic growth effect
Conclusions
Chapter 9. Redistribution through Labor Markets
A short run sigma model of the labor market
Introducing legal minimum wage
Empirical consistency
The legal minimum wage effect
Endogenous three-tier labor incomes
Unemployment insurance policy
Introducing a guaranteed minimum income (gmi)
Conclusions
Chapter 10. Epilogue: New and Old Economics

Adolfo Figueroa is Professor Emeritus of Economics at Pontifical Catholic University of Peru. He is the author of three previous books with Palgrave Macmillan: Growth, Employment, Inequality, and the Environment (2015); Rules for Scientific Research in Economics (2016); and Economics of the Anthropocene Age (2017).

Constructs a general economic theory of contemporary world capitalism that goes beyond mainstream neoclassical and Keynesian theory by insisting that economic theory should be fully scientific

Directly addresses the pressing issues of our day and offers policies based on scientific theory to remedy them

Examines the links between economic growth, income inequality, democracy, and degradation of the environment

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14.8x21 cm

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