The book provides an extensive overview of modern microeconomic theories, encompassing both mainstream and alternative perspectives. It aims to equip readers with a solid foundation in microeconomic principles while addressing various economic problems. Through its inclusive approach, the text encourages critical thinking about different economic models and their applications in real-world scenarios.
Focusing on the key concepts from various heterodox schools of thought, this text provides an in-depth introduction to macroeconomics, the financial system, and economic policy. It addresses significant economic challenges faced by modern society, making it a valuable resource for understanding diverse perspectives and solutions in economic discourse.
In order to fully understand the evolution and future growth of economic systems, we must draw on the lessons of economic history. The 2008 Financial Crisis, for example, mirrored past economic meltdowns with uncanny accuracy. Just like the Great Depression of the 1930s and the Savings and Loan Crisis of the 1980s, it featured deregulated lenders taking incredible risks with other people's money. Historical analysis is crucial to understanding trends and patterns that can help us predict the future. This text presents a ground-breaking, pluralistic introduction to economic history and the history of economic thought. Tracing the development of economic systems and economic thought, the text introduces students to the story from ancient times to contemporary capitalism, and also its critics. Focusing in particular on Smith, Marx, Veblen, and Keynes, the text encourages students to consider which ideas and systems are still relevant in the modern world. This book can be used as a standalone text for relevant classes or as a supplement in any principles course.