Overview

This book articulates a unified theory of capitalism as an attempt to provide a comprehensive scientific theory of this social system. A unified theory of capitalism is not the combination of the predominant economic theories—neoclassical, classical, and Keynesian—so as to make them compatible. It is not a composite economic theory. It is a new economic theory. Predictions of the theory’s models were consistent with eight basic empirical regularities of capitalism dealing with economic growth, income inequality, employment level, and environment degradation. Therefore, the unified theory can be accepted as a good approximation of the real capitalist world. But the models were constructed at a high level of abstraction. Also problematic  was the need to work out more fully the public policy implications of the theory. It is, therefore, no wonder that essays on the unified theory to answer these questions are a natural outcome of a new scientific endeavor attempting to reach aunity of knowledge in economics.

Full Product Details

Author:   Adolfo Figueroa
Publisher:   Springer Nature Switzerland AG
Imprint:   Springer Nature Switzerland AG
Edition:   1st ed. 2021
Weight:   0.336kg
ISBN:  

9783030795672

ISBN 10:   3030795675
Pages:   230
Publication Date:   17 September 2022
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
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Table of Contents

Preface Acknowledgements Contents 1. Introduction To Unified Theory Of Capitalism Foundations And Findings Unified Theory Of Capitalism Vs Prevailing Economic Theories References 2. Scientific Economic Laws Of Capitalism Science Is Epistemology Beta-Propositions As Economic Laws Equilibrium Laws Causality Laws Internalizing Physics And Biology Into Economic Process On The “Law Of Supply And Demand” The Nature Of Scientific Laws In Economics Unified Theory Of Capitalism Vs Standard Economics The Engineering Of Economics Conclusions References 3. European Colonialism And Capitalist Development The Old World And The New World A Brief History Of European Colonialism Colonialism And The Capitalist Divide Some Regional Differences The Collapse Of European Colonialism Conclusions Appendix: European Colonial Legacy In Third World Countries References 4. Hobsbawm’s Question On Peasantry Andean Peasant Economy: The Geographical And Social Context Peasant Farming Vs Capitalist Farming In The Andean Highlands A Static Sigma Model Of The Andean Peasant Economy A Dynamic Model An Evolutionary Model: From Peasant To Wage Labor From Peasant To Part-Time Peasant The Effect Of Climate Change The Effect Of Growth In Illegal Activities Answering Hobsbawm and Amending The Standard Theories Conclusions References 5. On Economic Behavior of Workers Standard Theories of Consumer Behavior Human Drives in Workers Behavior A Static Model A Dynamic Model Confronting Predictions with Facts Conclusions References 6. Market Prices In The Anthropocene Age Markets Under Neoclassical Theory Pricing of Exhaustible Natural Resources: Its Refutation Pricing of Exhaustible Natural Resources under Unified Theory of Capitalism Extraction Costs vs Degradation Costs Markets Under Unified Theory of Capitalism Market System as Institution of Capitalism Conclusions References 7. Inequality, Power Relations, And Democracy Unified Theory of Capitalism: How It Explains The Real World Economic Growth as Evolutionary Process Why Inequality Under Capitalism is Not Self-Regulating The Global Capitalist System as a Sigma Society Theory and Facts Confrontations Lessons from History Conclusions Appendix: Income Inequality is Higher in Sigma than in Epsilon Societies References 8. Toughest Challenge Of Economics: Human Society Isn’t Immortal Risks of Human Society Collapse Economic Growth Process is Evolutionary, Not Mechanical Economic Growth in The Global Capitalist System A Collapse Model of Unified Theory Deriving New Public Policies Technological Innovations Endosomatic vs Exosomatic Ways of Life Meta-Policies to Change Public Policies Workers Democracy: Its Requirements Covid-19 Pandemic as First Warning of Collapse Conclusions References List of Tables                                                                                      Author Index Countries Index Subjetc Index

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Author Information

 Adolfo Figueroa holds a Ph.D. degree in economics from Vanderbilt University, USA. He is a Professor Emeritus of Economics at the Catholic University of Peru. He has published several books with Palgrave: The Quality of Society, Economics of the Anthropocene Age, Rules for Scientific Research in Economics, and Growth, Employment, Inequality, and the Environment. During his distinguished academic career, Figueroa served as a visiting professor at American, European, and Latin American universities. And he participated in several international collaborative research projects (at the University of Oxford, University of Wisconsin-Madison, and other institutions). As a professional economist, he worked as consultant to several international organizations (including the World Bank, ILO, UNDP, FAO, and IFAD), doing fieldwork in Africa, Asia, and Latin America.

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