Beyond invisible hand : groundwork for a new economics (Record no. 62073)

000 -LEADER
fixed length control field 01858nam a2200157 4500
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
ISBN 9780143415756
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 915.4
Item number KAU/B
100 ## - MAIN ENTRY--AUTHOR NAME
Personal name Kaushik Basu
245 ## - TITLE STATEMENT
Title Beyond invisible hand : groundwork for a new economics
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication New Delhi
Name of publisher Penguin
Year of publication 2010
300 ## - PHYSICAL DESCRIPTION
Number of Pages 273 p.
520 ## - SUMMARY, ETC.
Summary, etc One of the central tenets of economics is that, given certain conditions, selfinterested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. However, over the past two centuries, this proposition first put forth by Adam Smith has been taken out of context, contorted, and used as the cornerstone of free-market orthodoxy. In Beyond the Invisible Hand, Kaushik Basu lays bare the implications of this gross misrepresentation of Smith’s theory which, he argues, has resulted in hampering our understanding of how economies function, why some economies fail and some succeed, and what the nature and role of state intervention might be. Comparing this view of the invisible hand to the vision described by Kafka—in which individuals pursuing their atomistic interests, devoid of moral compunction, end up creating a world that is mean and miserable—Basu calls for collective action and the need to shift our focus from the efficient society to one that is also fair. As Basu pointedly reminds us, by ignoring the role of culture and custom, traditional economics promotes the view that the current system is the only viable one, thereby only serving the interests of those who do well by this system. Beyond the Invisible Hand challenges readers to fundamentally rethink the assumptions underlying modern economic thought and proves that a more equitable society is both possible and sustainable, and hence worth striving for.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Economic policy
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Free enterprise
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type BK
952 ## - LOCATION AND ITEM INFORMATION (KOHA)
Withdrawn status
Lost status
Damaged status
Holdings
Home library Shelving location Date acquired Cost, normal purchase price Full call number Accession Number Koha item type
Kannur University Central Library Stack 10/09/2021 399.00 915.4 KAU/B 53991 BK

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