Economics: A New Introduction

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‘Stretton provides a brilliant, critical and fresh look at the whole of economics. He points to the contradictions and the lack of realism in its current approaches. I cannot recommend this book too strongly.’ Paul Streeten, Boston University, founder of World Development journal. ‘Introduces the reader to the many different skills required in economics: analysis, a knowledge of history and institutions, philosophical concepts, quantitative precision, judgement, relevance and a sense of time and place.’ G.C. Harcourt, Cambridge University. "The publication of this book is one of the most important events of the last ten years in economics. It is not a flimsy response to the stagnating orthodoxy, but a substantial quality alternative building upon solid philosophical foundations."-Michael Keaney, Glasgow Caledonian University. Economics: A New Introduction provides a fresh introduction to real economics. Highlighting the complex and changing nature of economic activity, this wide-ranging text employs a pragmatic mix of old and new methods to examine the role of values and theoretical beliefs in economic life and in economists’ understanding of it. It attends to the problems which have come with high productivity, rapidly changing technology and skills, changing proportions of earning and non-earning years in most people’s lives, and a faltering revolution in childhood and parenting which has brought stress and over-work for many women. It addresses such issues as rising poverty, inequality, insecurity and the slow progress of environmental reform. In focusing on such abuses of affluence the text draws on institutional, Keynesian, green and feminist theories, while emphasising all approaches to understanding economic life.

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Hugh Stretton studied law and classics at Melbourne University, history at Oxford University, and economics as a visiting fellow at Princeton University. He has been a Fellow and Dean of Balliol College, Oxford and taught at Smith College, Massachusetts, Professor of History and Research Fellow in Economics at the University of Adelaide. He is a Fellow of the Australian Academies of the Humanities and the Social Sciences. His most recent book is Public Goods, Public Enterprise, Public Choice: Theoretical Foundations of the Contemporary Attack on Government (coauthored with Lionel Orchard). Table Of Contents Studying Economics Economic Growth and change New Directions Demands for Goods and Services The Productive Institutions Households Private enterprises Public enterprises The distributive Institutions wealth and income Economic Strategy National Strategies