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

Language: English

Published by Taylor & Francis Ltd Jun 2013, 2013

0415829631 / 9780415829632

Series: Book 142 of 375 - Routledge Frontiers of Political Economy

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Neuware - 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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Title
Against Utility-Based Economics : On a Life-Based Approach
Author
Anastasios Korkotsides
Publisher
Taylor & Francis Ltd Jun 2013
Publication year
2013
Condition
Neu
Binding
Buch
Language
English
ISBN 10
0415829631
ISBN 13
9780415829632
Item weight
595 grams
Dimensions
234x156x18 mm
Series
Book 142 of 375: Routledge Frontiers of Political Economy

AHA-BUCH GmbH

Einbeck, Germany

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AbeBooks seller since August 14, 2006

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