Post-Crash Economics Plurality and Heterodox Ideas in Teaching and R

This book demonstrates the continuing relevance of economics for understanding the world, through a restatement of the importance of plurality and heterodox ideas for teaching and research. The Great Financial Crash of 2007–8 gave rise to a widespread cri

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POST-CRASH ECONOMICS Plurality and Heterodox Ideas in Teaching and Research

Post-Crash Economics

Omar Feraboli  •  Carlo J. Morelli Editors

Post-Crash Economics Plurality and Heterodox Ideas in Teaching and Research

Editors Omar Feraboli Department of Economic Studies University of Dundee Dundee, UK

Carlo J. Morelli Department of Economic Studies University of Dundee Dundee, UK

ISBN 978-3-319-65854-4    ISBN 978-3-319-65855-1 (eBook) DOI 10.1007/978-3-319-65855-1 Library of Congress Control Number: 2017954390 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: Paul Gisby Photography / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Acknowledgement

Omar Feraboli and Carlo Morelli would like to thank all the contributors to the individual chapters contained in this book and attendees of the Post-Crash Teaching Economics in the 21st Century conference held at the University of Dundee in 2016. In addition, no small thanks goes to the very very many students, undergraduate and postgraduate, who have contributed no matter how unwittingly to the ideas developed in this volume. We would also like to thank the Palgrave Publishers, in particular Kirsty Reade, Laura Pacey and James Safford, for their farsightedness in identifying the need for this volume. We hope they will not be disappointed. Above all else we dedicate this book to our parents and families.

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Contents

1 Introduction: The Financial Crash and Post-Crash Economics   1 Omar Feraboli and Carlo J. Morelli Economic Policy   7 Inequality  12 Ethics   14 Conclusion  17 References  18 2 Student Refl