A shocking account of how economics became known as the dismal science

See "Stephen Marglin on the Future of Capitalism" at FORA.tv. Economists celebrate the market as a device for regulating human interaction without acknowledging that their enthusiasm depends on a set of half-truths: that individuals are autonomous, self-interested, and rational calculators with unlimited wants and that the only community that matters is the nation-state. However, as Stephen Marglin argues, market relationships erode community. In the past, for example, when a farm family experienced a setback--say the barn burned down--neighbors pitched in. Now a farmer whose barn burns down turns, not to his neighbors, but to his insurance company. Insurance may be a more efficient way to organize resources than a community barn raising, but the deep social and human ties that are constitutive of community are weakened by the shift from reciprocity to market relations. Marglin dissects the ways in which the foundational assumptions of economics justify a world in which individuals are isolated from one another and social connections are impoverished as people define themselves in terms of how much they can afford to consume. Over the last four centuries, this economic ideology has become the dominant ideology in much of the world. Marglin presents an account of how this happened and an argument for righting the imbalance in our lives that this ideology has fostered.

Noneconomists often think that economists' approach to race is almost exclusively one of laissez-faire. Racism, Liberalism, and Economics argues that economists' ideas are more complicated. The book considers economists' support of markets in relation to the challenge of race and race relations and argues that their support of laissez-faire has traditionally been based upon a broader philosophical foundation of liberalism and history: what markets have and have not achieved in the past, and how that past relates to the future. The book discusses the concepts of liberalism and racism, the history and use of these terms, and how that history relates to policy issues. It argues that liberalism is consistent with a wide variety of policies and that the broader philosophical issues are central in choosing policies. The contributors show how the evolution of racist ideas has been a subtle process that is woven into larger movements in the development of scientific thought; economic thinking is embedded in a larger social milieu. Previous discussions of policies toward race have been constrained by that social milieu, and, since World War II, have largely focused on ending legislated and state-sanctioned discrimination. In the past decade, the broader policy debate has moved on to questions about the existence and relative importance of intangible sources of inequality, including market structure, information asymmetries, cumulative processes, and cultural and/or social capital. This book is a product of, and a contribution to, this modern discussion. It is uniquely transdisciplinary, with contributions by and discussions among economists, philosophers, anthropologists, and literature scholars. The volume first examines the early history of work on race by economists and social scientists more generally. It continues by surveying American economists on race and featuring contributions that embody more modern approaches to race within economics. Finally it explores several important policy issues that follow from the discussion. ". . . adds new insights that contribute significantly to the debate on racial economic inequality in the U.S. The differing opinions of the contributors provide the broad perspective needed to examine this extremely complex issue." --James Peoples, University of Wisconsin-Milwaukee "There is an immense economic literature on racial discrimination, employing a variety of models and decomposition methods. This volume makes a unique contribution by focusing on the philosophical assumptions at the root of this analysis and by presenting many sides of the very vigorous debate surrounding these controversial issues." --Thomas Maloney, University of Utah "By focusing upon the progress of analytical technique, historians of economic thought have grossly neglected the symbiotic relation of economics to public policy and ideology. This collection of essays offers a most welcome breach of disciplinary apartheid. Seizing upon recent research in the almost forgotten writings about race of Classical economists and their contemporaries, it relates nineteenth-century ideas to current debates about economic discrimination and other manifestations of racism. As the writing is both learned and lively, the book should appeal both to the generally educated reader and to teachers of courses in multiculturalism." --Melvin Reder, Isidore Brown and Gladys J. Brown Professor Emeritus of Urban and Labor Economics, University of Chicago

Seeks to provide an engaging and comprehensive primer to economics that explains key concepts without technical jargon and using common-sense examples.

Attempts to explain the shift from egalitarian Classical economic thought to the difference and hierarchy of post-Classical economic thinking

The best classes have a life of their own, powered by student-led conversations that explore texts, ideas, and essential questions. In these classes, the teacher’s role shifts from star player to observer and coach as the students ▪ Think critically, ▪ Work collaboratively, ▪ Participate fully, ▪ Behave ethically, ▪ Ask and answer high-level questions, ▪ Support their ideas with evidence, and ▪ Evaluate and assess their own work. The Spider Web Discussion is a simple technique that puts this kind of class within every teacher’s reach. The name comes from the weblike diagram the observer makes to record interactions as students actively participate in the discussion, lead and support one another’s learning, and build community. It’s proven to work across all subject areas and with all ages, and you only need a little know-how, a rubric, and paper and pencil to get started. As students practice Spider Web Discussion, they become stronger communicators, more empathetic teammates, better problem solvers, and more independent learners—college and career ready skills that serve them well in the classroom and beyond. Educator Alexis Wiggins provides a step-by-step guide for the implementation of Spider Web Discussion, covering everything from introducing the technique to creating rubrics for discussion self-assessment to the nuts-and-bolts of charting the conversations and using the data collected for formative assessment. She also shares troubleshooting tips, ideas for assessment and group grading, and the experiences of real teachers and students who use the technique to develop and share content knowledge in a way that’s both revolutionary and truly inspiring.