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Economics Unmasked: From Power and Greed to Compassion and the Common Goodby Philip B. Smith
Synopses & Reviews
The economic system under which we live not only forces the great majority of humankind to live their lives in indignity and poverty but also threatens all forms of life on Earth. Economics Unmasked presents a cogent critique of the dominant economic system, showing that the theoretical constructions of mainstream economics work mainly to bring about injustice. The merciless onslaught on the global ecosystem of recent decades, brought about by the massive increase in the production of goods and the consequent depletion of nature's reserves, is not a change property of the economic system. It is a direct result of neoliberal economic thinking, which recognizes value only in material things. The growth obsession is not a mistaken conception that mainstream economists can unlearn, it is inherent in their view of life. But a socioeconomic system based on the growth obsession can never be sustained. This book outlines the foundations of new economics, where justice, human dignity, compassion, and reverence for life are the guiding values. Contrary to the assumption of mainstream economists that economics is a value-free science, new economics must make its values explicit.
The economic system under which we live not only forces the great majority of humankind to live their lives in indignity and poverty; it also threatens all forms of life - indeed life itself. Economics Unmasked presents a cogent critique of the dominant economic system in order to help transform our society into one in which all forms of life will be protected. The first part of this book is devoted to showing that the theoretical constructions that have been selected, work mainly to bring about injustice. The second part is concerned with what should be the foundations of a new economics where justice, human dignity, compassion and reverence for life must be the guiding values.
About the Author
Manfred Max-Neef is a Chilean-German economist and environmentalist. He is Professor of Ecological Economics in the Southern University of Chile, and Director of the Economics Institute. His book "Human Scale Development" has been recognized by Cambridge University as one of the fifty most important texts in Sustainability. Philip Bartlett Smith (1923-2005) was a Dutch-American experimental physicist who after his retirement devoted himself to studying economics and economic theories. He was co-author with S.E. Okoya, J. de Wilde and P. Deshingkar of "The World at the Crossroads: Towards a sustainable, equitable and livable world; A Report to the Pugwash Council" (Earthscan 1994).
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