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Macro-economic thinking and the Market Economy
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In our day the market economy is under relentless and heavy
criticism. Some of these criticisms are due to ignorance.
Some show a remarkably high degree of skill and sophistication.
This Paper is devoted to a critical evaluation of some of the
more sophisticated ideas deployed in this debate.
' A multitude of perspectives'
Nobody can claim, of course, that the market economy can
be viewed only in one kind of perspective superior to all others,
that it requires for its full understanding an analytical scheme
of its own, or that any particular body of thought can be said to
'represent' it. In the study of the social world there is a good
deal to be said for a multitude of perspectives and styles of
thought, each of them illuminating one aspect of the problem
under investigation. It remains true none the less that some of
these perspectives are apt to blur essential features of the object
of study and to distort our vision. In such cases we are entitled
to state that some styles of thought are inadequate to their
subject matter.
In what follows we shall endeavour to show that such
inadequate styles of thought are prominent in a contemporary
debate among economists in which the nature of the market
economy, the way it works and the results it achieves, are at
issue.
L. M. LACHMANN - Personal Name
1st Edition
255 36043-6
NONE
Macro-economic thinking and the Market Economy
Economics
English
1973
1-57
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