The Heterodox Theory of Social Costs

By K. William Kapp

By:

K.William Kapp

Format:

Paperback / softback

Series:

Routledge Advances in Heterodox Economics

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Description

K. William Kapp’s heterodox theory of social costs proposes precautionary planning to pre-empt social costs and provide social benefits via socio-ecological safety standards that guarantee the gratification of basic human needs. Based on arguments from Thorstein Veblen, Karl Marx, and Max Weber, social costs are conceptualized as systemic and large-scale damages caused by markets. Kapp refutes neoclassical solutions, such as bargaining, taxation, and tort law, unmasking them as ineffective, inefficient, inconsistent, and too market-obedient. The chapters of this book present the social costs of markets and neoclassical economics, the social benefits of environmental controls, development planning, and the governance of science and technological standards. This book demonstrates the fruitfulness of the heterodox theory of social costs as a coherent framework to develop effective remedies for today’s urgent socio-ecological crises. This volume is suitable for readers at all levels who are interested in the theory of social costs, heterodox economics, and the history of economic thought.

Author Biography:

K. William Kapp (1910-1976) was a German-American economist, one of the founders of Ecological Economics, a leading contributor to the institutional economics movement, and author of "The Social Costs of Business Enterprise." Sebastian Berger is a Senior Lecturer of Economics at the University of the West of England, winner of the 2009 Helen Potter Award (Association for Social Economics), and trustee of the Kapp Foundation.

Release date NZ

June 16th, 2017

Author

K.William Kapp

Audience

Tertiary Education (US: College)

Contributor

Edited by Sebastian Berger

Illustrations

1 Line drawings, black and white; 1 Illustrations, black and white

Pages

180

Series

Routledge Advances in Heterodox Economics

ISBN-13

9781138299351

Product ID

26814157

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