Sustainability and economics

 

1. Examine and discuss criticisms levelled at the feet of orthodox economics of being ‘autistic’? 2. Explain why ‘trickle down economics’, whilst widely seen as discredited, still enjoys much support by western governments. 3. Using contemporary examples, show how assumptions in ort​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​hodox economic theory (realistic or otherwise) are shaping government policies, business practices and human behaviour. 4. Critically discuss the treatment of non-economic values in orthodox (neoclassical) economics? 5. Discuss the relationship between neoclassical economics and neoliberalism.

Sample Solution

Apart from poststructuralism, Saussure’s theory also shown in the work of post-Marxist theorist and how they rethink and analyze social and political affairs. Post-Marxism is an ideology in which derives from a traditional Marxism and aims to elaborate and to remodify an outdated conventional though through an alternative perspective. Regardless, the conventional Marxism offers a particular record of the part of thoughts, cognizance, and language in political science as well as society. Not exclusively does it relate ideas and portrayals to procedures of economic productivity, yet it additionally expresses a prominent hypothesis of ideology in which convictions are disclosed regarding the uneven conveyance of autonomy and assets in the class-division community. Thus, the Marxist explanation of ideology gives basic scenery to the development of Laclau and Mouffe’s origination of talk, which rise out of a deconstructive perusing of Marxist custom. Additionally, Poststructuralist Marxism, or post-Marxism, is a hypothetical perspective that expounds and updates crafted by Louis Althusser and Michel Foucault. Dissimilar to conventional Marxism, which stresses the need of class division and the basic humankind of the oppressed and the oppressors, post-Marxism uncovers the sexual, racial, class, and ethnic groups of present-day Western culture (Goldstein, 2005). David Howarth (2010) provides a basic background of traditional Marxism in his publication ‘Discourse’ that, Marxism is mainly highlights about the manner by which individuals associate with nature to deliver and recreate their material state of presence. It accentuates how social and political inquiries can be clarified by understanding the manners by which material creation is socially sorted out. To put it plainly, political inquiries in traditional Marxism concern the role of the state and philosophy or superstructures in keeping up class control, in which the state is seen primarily as an operator of pressure, and belief system as the teaching of false consciousness. Later on, this thought has been passed down to later Marxist theorists, for example, Gramsci and Althusser to clear up further and better clarification of ideology and discourse, which does not decrease it to more determinant social procedures, but rather holds a basic edge (Howarth, 2010, pp. 85-98). At the same time, the classical Marxism illustrate a distinctive explanation to two major ways. On the one hand, it heavily emphasizes on the aspect of the economic productivity and reproduction, on the other hand, on the less fundamental ideological and political processes. Basically, “while the former set of processes forms a legitimate object of research and can be explained objectively and scientifically, the latter are either reflections of underlying economic logics or contingent and accidental phenomena, which are not governed by the more essential logics that determine social and historical change” (Howarth, 2010). This binary thus enc

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