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Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism PDF ebook

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Buy Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism PDF ebook by author David Colander; Craig Freedman published by Princeton University Press in 2019 and save up to 80%  compared to the print version of this textbook. With PDF version of this textbook, not only save you money, you can also highlight, add text, underline…

SKU: 9780691179209
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Buy Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism PDF ebook by author David Colander; Craig Freedman published by Princeton University Press in 2019 and save up to 80%  compared to the print version of this textbook. With PDF version of this textbook, not only save you money, you can also highlight, add text, underline add post-it notes, bookmarks to pages, instantly search for the major terms or chapter titles, etc.
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eBook Details:

Full title: Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism
Edition:
Copyright year: 2019
Publisher: Princeton University Press
Author: David Colander; Craig Freedman
ISBN: 9780691179209, 9781351599344
Format: PDF

Description of Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism:
How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago-one of the last bastions of classical liberal economics-as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong. Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists.

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