<i>‘At a time of deep doubt about economic orthodoxies, this is a powerful call to reclaim economics as a moral and institutional discipline—one grounded in justice, not dogma, and attuned to the lived realities of a fractured world.’</i>

- Carlos Lopes, University of Cape Town, South Africa,

<i>‘Brimming with original insights, this book helps us grapple with complex economic challenges of our times. It does not just critique the deficiencies of neoliberal economics, but elegantly lays solid foundations for a new economics grounded in ethics, social context, and real world institutions. Its new definition of economics is human-centric rather than one narrowly fixated on quantitative frames that lack context. This is an essential reading for public policy experts and development practitioners.’</i>

- Mzukisi Qobo, South Africa’s Ambassador to the World Trade Organisation, Switzerland,

<i>‘Daniel Bell announced the end of ideology, Francis Fukuyama announced the end of history - the triumph of neoliberalism and the absence of alternatives as to how a modern economy is managed. George Kararach disagrees and implores us to think beyond neoliberalism and construct a humane society. This book asks of us for the minimum: have a proper debate about the economy. It is thought provoking, questioning conventional economic wisdom and puts human development at the centre.’</i>

- Riad Sultan, University of Mauritius, Mauritius,

This perceptive book challenges orthodox and neoliberal approaches to economics, emphasizing the importance of institutions in shaping socio-economic outcomes. George Kararach underscores the need to rethink dominant paradigms in the field of economics and enhance its relevance to public policy.



Exploring the societal impact of economics, Kararach sheds light on the limitations of neoliberalism and examines the effects of ethics on the evolution of alternative economic perspectives and policies. Chapters draw on detailed global case studies to present alternative proposals for a humane economy that promotes social inclusion, grounds economic theory in the social context, and integrates perspectives from the Global South. Considering how the economy can better serve society, Kararach applies heterodox methods to practical policy issues, highlighting the influence of institutional differences alongside powerful interest groups.



Interdisciplinary in scope, this book is a valuable resource for students and academics in economics, development studies, public policy, governance, philosophy and political science. Its insights will also greatly benefit policymakers and practitioners working in multilateral institutions, NGOs, UN agencies, and regional economic organizations.

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This perceptive book challenges orthodox and neoliberal approaches to economics, emphasizing the importance of institutions in shaping socio-economic outcomes. George Kararach underscores the need to rethink dominant paradigms in the field of economics and enhance its relevance to public policy.
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Contents Introduction to Liberating Economics from Ideologies and Dystopia 1 PART I ECONOMICS’ DOMINANCE IN SOCIAL SCIENCE AND ITS SOCIETAL IMPACT 17 1 Economics, the hegemony of the social science and society 18 2 Neoliberal economics and the consumer promise: the welfarist individual 32 3 Unemployment: the failed promise for jobs 42 4 Education, skills and upward immobility: the limits in self- actualisation 52 5 Health: the false promise for longevity and well-being 62 6 Climate change, resource depletion and the limits of nature 75 7 On the incentives and rewards: motivation and economic activity 88 8 Inclusion and marginalisation: economics on social inequalities and minorities 98 9 Trade and the promise of global welfare: economics and nationalist gimmicks 105 10 Aid and the failure of multilateral cooperation: greed as good intention 115 11 Modern economics and the failure of development 123 PART II ALTERNATIVE PROPOSITIONS AND THE HUMANE ECONOMY Introduction to Part II 144 12 Economics, society and ethics in a humane context 149 13 Rethinking economic theory, political economy, and the new social contract 162 14 Disruptions and the new promise of reconfigured economy 177 15 Governance, economics and the prosperous society 191 16 On methods, history and reimagining the future of humanity 200 PART III POLICY CONSIDERATIONS AND THE CONTRAST OF CONTESTATIONS Introduction to Part III 214 17 Macroeconomic policy and the importance of (in)stability 219 18 Markets, the state and the efficacy of competition policy 238 19 Labour market policies and the productive life 257 20 Institutions, regulatory regimes and policy 273 21 Growth and sustainable development policy 284 22 On industrial policy and economic renewal 300 23 Social policy and the humane economy 314 References
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Produktdetaljer

ISBN
9781035316175
Publisert
2025-10-24
Utgiver
Edward Elgar Publishing Ltd
Høyde
234 mm
Bredde
156 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
410

Forfatter

Biografisk notat

George Kararach, Visiting Professor in Practice, Firoz Lalji Institute for Africa, The London School of Economics and Political Science, UK and Lead Economist, African Development Bank Group, Abidjan, Cote d'Ivoire