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Economics Confronts the Economy.

Publication: Journal of Economic Issues
Publication Date: 01-MAR-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Economics Confronts the Economy.(Book review)

Article Excerpt
Economics Confronts the Economy, by Philip A. Klein. Cheltenham, UK and Northampton, MA: Edward Elgar. 2006. Cloth: ISBN 1 84064 650 0. 75.00. [pounds sterling] 396 pages.

Over the past few years arguments have been made claiming that mainstream economics has fractured and that what is now the frontier of mainstream economics is quite different from neoclassical economics. This position is advanced with a conviction of truth that is normally associated with true believers; and heterodox economists who argued otherwise are dismissed, their submission to heterodox journals rejected, and their voices silenced. Philip Klein openly challenges this argument by boldly stating that the neoclassical conception of economics, with the invisible hand, markets analyzed in terms of supply and...

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